"AfCFTA expert supports one customs union for Africa"

" \n AfCFTA expert supports one customs union for Africa \n \n\n \n Trade practitioner and AfCFTA expert, Louis Yaw Afful has endorsed the call for a single customs union for Africa to support trading efforts within the continent. \n \n\n \n Speaking on Eye on Port, the Executive Director of AfCFTA Policy Network (APN) Group explained that indeed talks are underway to establish that as part of the Single Africa Market masterplan but it is unclear when that will be officially established and the accompanying modalities. \n \n\n \n \u201cIt is part of the holistic One Africa Market. One Africa Market are in stages. The first is the Free Trade Area where we are, then follows with one Customs Union and then one currency,\u201d he indicated. \n \n\n \n According to Mr. Afful, the vision to have one customs union feeds into the preamble that establishes the agreement which says there will be customs management and cooperation. \n \n\n \n He lamented that currently the commitment from party states leaves much to be desired when it comes to enforcing legislation that establishes the free trade in their respective countries. \n \n\n \n \u201cSome don\u2019t have legislative instruments to enforce this customs management and procedures around their ports. They will say they have agreed and goods can be traded, but when you go down to the ground you realize that nothing shows they are ready. A critical example is that you go to certain countries and there is nothing that shows a certificate of origin system is in place. They act like AfCFTA is a Ghana affair.\u201d \n \n\n \n The Executive Director of the APN Group also attributed the slow start to trade to the preparatory arrangements to finalize the rules of origin by various party states. \n \n\n \n He indicated that progress for the finalization of the rules of origin stands at 87.13%. \n \n\n \n Rules of origin are the criteria needed to determine the nationality of a product, to support preferential trade liberalization and deemed the bedrock on which a successful trade agreement lies. \n \n\n \n Mr. Afful nonetheless urged the private sector to commence trading despite AfCFTA is still in its developmental stages with a lot of structures being put in place. \n "

"AfCFTA expert supports one customs union for Africa"

GSE Composite Index Falls Amid Decline in Trade Volume; MTNGH Tops Activity ChartAMP

Government Cancels $1.2bn Bauxite Deal, Eyes Global PartnershipAMP

Ghana’s Attorney General has Recovered 10.6% of the Unibank Liability NOT 60% as he Claims – Bright SimonsAMP