Specialists praise the rollout of the Guided Trade Program.
Eight nations, comprising Cameroon, Egypt, Ghana, Kenya, Mauritius, Rwanda, Tanzania, and Tunisia, will initiate the Guided Trade Initiative (GTI) to test and implement the provisions of the Africa Continental Free Trade Area (AfCFTA). Launching on October 7, the initiative aims to foster trade within the AfCFTA framework, enhancing its practical implementation.
The GTI is instrumental in establishing a framework for countries to conduct trade under AfCFTA regulations, a crucial step towards realizing the agreement's full potential. By testing trade procedures and simplifying cross-border transactions, this pilot program is expected to increase intra-African trade, reduce costs, and bolster economic growth.
The participating countries have demonstrated readiness through their submission of tariff concessions and advanced preparations on the ground. As an example, Ghana has taken proactive measures such as establishing a National AfCFTA coordination office and readying its Customs in terms of training and capacity.
Trade Consultant and AfCFTA expert Dode Seidu emphasized the initiative's significance, stating it's a clear indication of the African ministers of trade's commitment to fostering trade. He further emphasized that authorities will focus on facilitating trade in qualifying goods under acceptable origin rules.
Despite the AfCFTA's lackluster progress to date, AfCFTA Strategist and Executive Director of the AfCFTA Policy Network (APN) Group, Louis Yaw Afful, expressed the need for some impetus for increased trade. He viewed the GTI as an essential step to test and advance the common objectives of member states. Nevertheless, he expressed disappointment that not all significant players, such as Nigeria and South Africa, have shown greater enthusiasm for the AfCFTA.
The APN Network Executive Director encouraged the private sector to capitalize on this opportunity by seeking new markets, participating in trade fairs, and fostering new connections. He emphasized the need to remain diligent in exploring trade prospects until wider opportunities become available across the continent.
- Dode Seidu, a Trade Consultant and AfCFTA expert, highlighted the Guided Trade Initiative (GTI) as a demonstration of African ministers of trade's commitment to cultivating trade within the AfCFTA framework.
- Lacking substantial progress, AfCFTA Strategist Louis Yaw Afful, the Executive Director of the AfCFTA Policy Network (APN) Group, expressed the need for impetus like the GTI to advance common objectives and stimulate increased trade among member states.
- In order to capitalize on the opportunities brought by the Guided Trade Initiative (GTI), the private sector is encouraged to engage in activities such as seeking new markets, participating in trade fairs, and forging new connections, stressing the importance of persistence in exploiting all available trade prospects across the continent.
