- David Ofosu-Dorte, a legal practitioner, has called for immediate steps from African leaders to implement the AfCFTA initiative
- The initiative was set to be outdoored in July but has been postponed due to the outbreak of the coronavirus
- Plans are in place to ensure its implementation in the first quarter of 2021
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A legal practitioner, David Ofosu-Dorte, has called on African leaders to take immediate steps to ensure the implementation of the Africa Continental Free Trade Area (AfCFTA) initiative.
According to him, countries that are ready to get started with it should take the lead and others will follow in due time.
He explained that, at present, 28 out of the 55 countries on the continent are ready to translate the vision into reality.
YEN.com.gh understands that the start date was postponed from July to the first quarter of next year (2021) following the outbreak of the coronavirus.
Per a report by citibusinessnews.com, the AfCFTA could potentially unite 1.3 billion people in a $2.5 trillion economic bloc.
It is also expected to create a continent-wide market for goods and services, coupled with the free movement of people and capital.
In the long-term, it is anticipated that the system will grow into one that harmonises and liberalizes trade across the continent.
The AfCFTA secretariat is expected to be located in Accra, Ghana.
In other news, the Director of the Institute of Social, Statistical and Economic Research at the University of Ghana, Professor Peter Quartey, has called for a careful reopening of Ghana’s borders.
According to him, the process must be done slowly and cautiously so that the coronavirus does not pose a threat to health and life.
He added that he agrees it is necessary to reopen the borders in order to revive economic activities, but it is essential that safety protocols are adhered to.
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