Transit-in-AfCFTA: Promote Ghana as a strategic corridor for transit biz’

The National President of Borderless Alliance, Ziad Hamoui says Ghana’s position as a strategic corridor for transit trade could accelerate economic development and intra-regional trade.

The trade and advocacy expert in an interview with TV3’s  Josephine Antwi Adjei, called for the review of policies which will make shipping business attractive.

Since 2012, the Borderless Alliance, a trade advocacy group, has worked to eliminate barriers on trade, with the aim of making the road corridors more competitive.

Mr Hamoui says the AfCFTA is not just a trade agreement, but an opportunity for smaller economies like ghana to unlock the wider markets.

“To the various countries representing in ECOWAS this present an opportunity for representing private sector and economic operators because their goods would be accessible by the entire continent. You are now integrating 1.25 billion persons and estimate economy of 2.7 trillion us dollar that is huge, we can have access to a larger market and potential to enhance the smaller economies in Africa,” he has advised.

The trade expert believed that by giving a boost to intra-regional trade in transit business, there is going to be an increase in employment opportunities for AfCFTA partner countries.

For Intra-African trade, 90 per cent of all goods will become tariff free for all the countries that have deposited their instruments of AfCFTA ratification with the chairperson of the African Union Commission (AUC).

 A total of 41 countries have already completed this procedure.

Ziad hamoui stressed that landlocked countries, could play an important role, both as partners and consumer of these regional value chains.

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By Josephine Antwi Adjei|3news.com|Ghana

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