Julius Debrah, the Chief of Staff, said the African Continental Free Trade Area (AfCFTA) presents an opportunity for the continent to transform its productive structures, build regional value chains and become a competitive global economic bloc.
Africa’s low level of intra-continental trade remained a major challenge, he said, stressing the need for deliberate efforts to deepen economic integration across the continent.
Mr Debrah was speaking at the Federation of West African Chambers of Commerce and Industry (FEWACCI) Summit on the theme: “Unlocking West Africa’s Economic Potential through Trade, Investment, Logistics, and Youth Development.”
The Summit was organised by Ghana National Chamber of Commerce and Industry (GNCCI) and FEWACCI on Wednesday.
He said the theme aligned strongly with the Government’s policy direction, particularly initiatives led by the Ministry of Trade, Agribusiness and Industry and the 24-hour economy programme, aimed at improving the business environment and industrial competitiveness.
Programmes such as the Export Expansion Programme were supporting Ghanaian SMEs to take advantage of opportunities under AfCFTA and Economic Community of West African States, while investments in value addition were strengthening domestic production, he said.
Mr Debrah noted that regulatory reforms, including the introduction of a one-stop-shop system, and initiatives like the Apprenticeship-to-Entrepreneur Programme, implemented with the Ghana Enterprise Agency, were equipping the youth with practical skills for enterprise development.
“The Ghana Economic Transformation Project has provided training and financial support to thousands of SMEs, demonstrating the government’s commitment to building a resilient private sector,” he added.
The Chief of Staff acknowledged challenges such as inadequate logistics infrastructure, fragmented standards, limited access to finance, and high trade costs, which continued to hinder intra-regional trade.
He called for coordinated action between government, the private sector and development partners, urging bodies such as the Association of Ghana Industries (AGI) and the GNCCl to play a stronger role in advocacy, investment mobilisation and enterprise development.
Mr Debrah emphasised the need to deepen regional integration, invest in productive capacity, empower SMEs and the youth, and strengthen public-private collaboration, reaffirming government’s commitment to building a dynamic and prosperous West African economy.
The objective of the summit include to strengthen regional trade facilitation through harmonised standards and coordinated private-sector advocacy and drive investment in trade, logistics, and productive capacity via partnerships with financial institutions and development partners.
It is also to promote youth empowerment through structured mentorship, the Youth Innovation Challenge, and inclusion in regional value chains, support SME competitiveness in digital trade, access to finance, and logistics solutions.
The rest are to shape actionable public-private policy recommendations for sustainable economic transformation and reinforce FEWACCI’s role as the coordinating body for private-sector-led regional development.
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Source: www.myjoyonline.com