African Chambers of Commerce Discuss Private Sectors' Engagement and Opportunities in the CFTA

2 September 2017
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United Nations Economic Commission for Africa (Addis Ababa)

Accra — The African Trade Policy Centre (ATPC) in partnership with the Pan African Chamber of Commerce organized the 2017 African Prosperity Conference under the theme: The Continental Free Trade Area (CFTA)- Exploring Possibilities for Business Engagement across Africa in Accra, Ghana from September 12 to 13, 2017. The main purpose of the meeting was to facilitate private sector input to the CFTA negotiating process which is currently in progress.

Nana Appiagyei Dankawoso, President of the Pan African Chamber of Commerce (PACCI), in his opening remarks said, "We all know that the role of the private sector in the CFTA negotiations has been modest and hope such meetings will help stimulate the process of private sector engagement at the national, regional and international levels on issues of trade policy".

Alan Kyerematen, Minister of Trade and Industry of Ghana stressed the need for Africa to promote industralization and produce its own goods and services in order for Africa to generate trade in a greater diversified range of goods.

For his part, the Commissioner of the Department of Trade and Industry, Albert Muchanga said the end of the bargain is for the private sector, with appropriate incentives from governments, to create decent jobs for our youth. "If we all fail in this bargain, our youth will continue trekking to other parts of the world and in their search for the mirage of a better future, become victims of human trafficking and other dangers,' he cautioned.

Mr. David Luke, Coordinator of ATPC said, "the CFTA provides the African continent with an opportunity to increase trade flows among its member states, create decent jobs and lift its people out of poverty. The private sector is at the very heart of that effort ... we must also ensure that women and youth are better placed to participate and gainfully benefit from the CFTA. Women must be provided better protection along the trade transport corridors".

The conference brought together high level business personalities, chambers of commerce, regional business associations, business councils and financial institutions to discuss the enhancement of private sectors involvement in the CFTA to come up with recommendations.

Read the original article on UNECA.

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