Boosting Trade with Africa
In Africa, trade has not achieved the needed sustainable economic growth and development because member states do not intra-trade. Intra-African trade stands at 13% compared to approximately 60%, 40 % and 30% intra-regional trade achieved by Europe, North America and ASEAN respectively. Africa’s trade is primarily with the outside world a result, making the continent particularly vulnerable to external macroeconomic shocks and protectionist trade policies.
Boosting Intra-African trade and deepening regional market integration are important responses to challenges facing Africa in multilateral trading and fostering competition among African countries; and enhancing the capacity to compete effectively on the global market.
At the strategic level there is a National Steering Committee (NSC) made up of the Chairs of Technical Work Groups (TWGs) set up along the lines of the thematic clusters for boosting Intra African Trade (BIAT). The 8 TWGs are:
- Trade information
- Trade policy
- Trade Facilitation
- Trade Development Finance
- Enhancing productive capacity
- Factor market Integration
- Trade related infrastructure
- Trade in Services
TWGs are drawn from various government Ministries, Departments and Agencies and also from Non-Government Institutions and the Private Sector.
As indicated the Chairs of the TWGs constitute the National Steering Committee for BIAT/AfCFTA. The main aim is to support the countries strategic
readiness in the eight clusters to trade competively when trading starts. The Steering Committee reports to the Minister of Trade and industry.
At the operational level is the National AfCFTA Coordination Office (NCO). The main functions of the NCO are:
- To provide effective liaison between the Ghana government and the AfCFTA secretariat
- To coordinate and support the effective functioning of the national institutional framework for AfCFTA.
- To provide the Ghanaian private sector with trade information to enable effective decision making for trading.