The Chief Government Officer of Gambia Chamber of Commerce and Trade (GCCI), Mr. Alieu Secka has disclosed that 54 African nations have dedicated to affix the Africa Continental Free Commerce Settlement (AFCFTA).
Mr. Secka revealed this whereas presiding over the official opening of a sooner or later Info sharing discussion board just lately organised by the Community of Monetary and Tax Reporters (NFTR) – Gambia Chapter.
The discussion board was held at GCCI convention corridor in Bijilo.
In line with him 33countries have ratified the settlement “up to now many lack the customs procedures and infrastructure to facilitate tariff-free commerce.”
Mr Secka stated the views of the enterprise which function within the area, and are enthusiastic about how the Africa Continental Free Commerce Settlement (ACFTA) will assist obtain the dream of 1.2billion folks all throughout the continent, with a mixed GDP of USD 2.5 trillion.
He said additional that this, successfully, is the World largest free-trade space since the world Commerce Group was fashioned in 1995, and doubtlessly opening intra-African commerce by over 52 p.c in accordance with UN Financial Fee for Africa.
For The Gambia, he stated it offers super financial of scale particularly as a buying and selling nation which re-exports some 80% of her complete imports.
“Nonetheless, we should endeavour so as to add worth to our agricultural produce, enhance our requirements in processing and packaging, in addition to prepare our youth higher and extra, if we’re to completely profit from this CFTA,” Mr. Secka inspired members
He disclosed that in West Africa, “since 1979 we already tried ETLS-ECOWAS Commerce Liberalization Scheme, which aimed on the operationalization of a free Commerce Space.
“The ETLS-ECOWAS mechanism was supposed to make sure the free motion of originating merchandise with out the cost of customs duties and taxes of equal impact on importation into ECOWAS member states.”
He disclosed additional that the chambers of commerce can also be accountable and guarantors of one other nice ECOWAS Protocol on Inter-State Transit Commerce and it aimed to advertise transport by highway of a given Member state to a different Member state, and likewise of products in suspension of duties and taxes below the quilt of a single doc.
In conclusion Mr. Secka emphasised on the necessity for members to grab the possibility of 2021 and (CFTA) to make a long-lasting distinction to all. “Let’s change mindsets of our officers, and inform them any longer, that they’re Africans, not Gambians, Senegalese or Guineans.