Ex-president of Sierra Leone, Ernest Bai Koroma has arrived in Accra, Ghana as part of ongoing efforts to deepen the efforts of AFCFTA of the African Union.
Koroma took to his Twitter page to update the public about his engagements in Ghana saying, “Among other things, we shall share experiences on how to foster agricultural productivity through viable markets. We’re committed to making our @African Union & it’s a great initiative work for Africa.”
The AfCFTA is an ambitious trade pact to form the world’s largest free trade area by creating a single market for goods and services of almost 1.3bn people across Africa and deepening the economic integration of Africa. The trade area could have a combined gross domestic product of around $3.4 trillion, but achieving its full potential depends on significant policy reforms and trade facilitation measures across African signatory nations.
The AfCFTA aims to reduce tariffs among members and covers policy areas such as trade facilitation and services, as well as regulatory measures such as sanitary standards and technical barriers to trade.
The agreement was brokered by the African Union (AU) and was signed by 44 of its 55 member states in Kigali, Rwanda on March 21, 2018. The only country still not to sign the agreement is Eritrea, which has a largely closed economy.
As of May 2022, 46 of the 54 signatories had deposited their instruments of ratification with the chair of the African Union Commission, making them state parties to the agreement
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