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AfCFTA will promote Industrialization in Africa – Policy Network assures

African Continental Free Trade Area will promote industrialization among African member Countries. AfCFTA policy Network Ghana and Diaspora has assured.
Rev. Dr. Worlanyo Mensah, Director of Trade Research Centre of the AfCFTA Policy Network Ghana has hinted. He is also an economist with the Institute of Chartered Economists of Ghana as well as a lecturer at the Wisconsin International University College.
He indicated that, the Continental free trade will not only focus on buying and selling goods, commodities and service but also support the industrial sector of member countries to take advantage and produce essential goods that are more relevant and of high demand within the member states.
He acknowledge the sacrificial role play by the network’s Executive Director, Mr. Lius Afful and his deputy Emmanuel Bensah as well as the Board chairman Dr. Joe Tackie and Dr. Chris Kpodah for their instrumentation so far.
He indicated that, Member Countries needs a comprehensive active plan for boosting Intra-Africa Trade and also a basic framework for the fast tracking of a Continental Free Trade Area.
He mention that priority program clusters of the action plan must take into account, Trade Policy, Trade facilitation, Productive Capacity, Trade related infrastructure, Trade finance, Trade Information as well as Factor Market Integration.
Also ensure, expand intra Africa trade through better harmonization and Coordination of trade liberalization and facilitation regimes and instruments across Africa.
Value addition to our natural resources is paramount agenda in developing local technologies and infant industries.
Championing African beyond aid must take into consideration developing small and medium scale enterprises to take up the challenge by producing to satisfy various market demands in Africa.
AfCFTA will create financial pool and platform that will see massive manufacturing, productivity of goods and commodities to satisfy basic demands and also improve upon economics of sale.
He therefore call on various local businesses and industries to take advantage of the coming AfCFTA environment and invert in massive technological infrastructure to enable them be very competitive and innovative so as to produce on large commercial scale.
Rev. Dr. Worlanyo Mensah then advice financial and banking institutions to prepare in providing support for both industrial and manufacturing companies come 2021 to ensure effective and efficient maximization of factors of production.

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