Kenya, Ghana to present trade hub plan to African Union

Kenya and Ghana plan to present a Pan African Trade hub plan to the African Union (AU) in January 2016 if allocated a slot.

Speaking at the sidelines of the 10^th WTO Ministerial Conference, Cabinet Secretary Amina Mohamed said the plan presents an excellent platform for businesses and technological opportunities in the continent.

“African business and Kenyan business should know about this, it will catapult our trade within and beyond the continent and will make us more competitive,” Amina said.

Ghana’s Minister for trade and Industry Dr. Ekwow Spio- Garbrah added that the plan will improve the movement of goods and people.

“It is one thing to sign agreements among nation states, it is another for businesses to be aware what these agreements mean to them,” he said.

The Ghanaian Minister cited the need to raise the level of intra- African trade in order to eventually increase Africa’s participation in global trade, which currently stands at just 2 percent.

40% of food produced in Africa is lost due to inefficiencies and lack of knowledge and access to existing markets in the continent.

The plan is seen as a way to help Africa achieve goals of the AU 2063 vision and Sustainable Development Goals (SDGs) for growth and poverty elimination.

It is also seen as a way to double intra-African and cross border investments in 10 years.

The plan seeks to achieve a Continental Free Trade Area (CFTA) by 2017.

In the meantime, Dr. Ekwow Spio- Garbrah intends to sell this idea with the help of the Chambers of Commerce.