Applications For Exports Under Afcfta Began On January 18, 2021
The application process for exports under the AfCFTA through the Ghanaian Integrated Customs Management System began on January 18, 2021. The Ghanaian Government has designated the Customs Division of the Ghana Revenue Authority as the appropriate body to issue Rules of Origin Certificates under the AfCFTA.
AfCFTA is poised to progressively remove tariff and non-tariff barriers in the hopes of boosting intra-African trade. Specifically, in Ghana, AfCFTA is expected to boost intra-African exports and imports. To effectively take advantage of these economic progressions, Ghana has made improvements to its physical infrastructure and has taken significant steps to improve the business climate. These improvements include, but are not limited to, the expansion of the Tema and Takoradi Ports, the construction of a floating dry dock, and a Tema-Ouagadougou 690 km freight and passenger railway line.
The Ministers of Trade of the respective Member States of the AfCFTA are expected to meet in Accra by the end of January 2021 to discuss a timeline for the trade protocols in the agreement with a focus on the Women-In-Trade. In support of the trade protocols AfCFTA alongside the African Export-Import Bank (Afreximbank) will introduce mechanisms, including the Pan-African Payment and Settlement Platform, to find solutions to multi-currency trading in Africa.