Take advantage of AfCFTA to sell more cocoa – Edward Boateng

Former Ambassador to China, Edward Boateng, says Ghana must focus on taking advantage of the African Continental Free Trade Area (AfCFTA) agreement on the sale of its cocoa.

His comments come on the back of reports that China had begun the production of cocoa.

According to him, “I think what we should be looking at is how much more can we do with our cocoa. I still think that we as a nation have more room to develop more products from our cocoa.”

“Even if we take out the Chinese market, AfCFTA itself offers us a huge market. If we get even 20 percent of Africa to consume our cocoa, that itself is a big market,” he added.

Mr. Boateng believes there is no cause for concern and added that Ghana ought to give more attention to processing and exporting its cocoa and gaining market ground on the continent.

The former ambassador’s assertions are because the AfCFTA is a trade agreement between 52 African states that seeks to remove trade barriers amongst the participating countries.

The agreement creates the largest free trade area in the world measured by the number of countries participating. It will connect 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion.

The Asian country is reported to have exported its first batch of cocoa beans weighing 500 kg worth about $3,600 to Belgium.

Organisations like the Ghana Cocobod and the Concerned Farmers Association have expressed worry over the development.

Source: Citi Business News