Innovation to increase intra-Africa trade
26 February 2019 | Business
There is a need to find innovative ways of increasing intra-Africa trade, the deputy prime minister and minister of international relations and cooperation, Netumbo Nandi-Ndaitwah, said yesterday.
“The subdued global trade could be a major reason, as it has impacted African economies differently. Some through falling commodity prices and others through the shrinking demand for manufactured goods. [Thus] we need to find innovative ways of increasing intra-Africa trade,” Nandi-Ndaitwah said at the opening of the third session of the Namibia-Ghana Joint Permanent Commission of Cooperation (JPCC).
The Namibia-Ghana JPCC has made progress and signed a significant number of agreements and memorandums of understanding (MoUs) to strengthen their economies, she said.
“We have signed six agreements and MoUs and 14 more are set to be negotiated during the third session of our JPCC covering a wide range of sectors.”
Business environment
The minister added that it is a priority to improve the business environment, promote investments and support the development of small and medium enterprises (SMEs).
Speaking at the same event, Ghana’s deputy minister for foreign affairs and regional integration, Charles Owiredu, said the JPCC needs to encourage private investment as well as trade between the two countries.
“We must encourage private sector investment in our respective countries and improve trade between our two countries, taking advantage not only of our bilateral agreements but also the multilateral ones such as the African Continental Free Trade Agreement (CFTA), of which both countries are signatories,” Owiredu said.
He invited the Namibian private sector to take advantage of the incentives being offered in Ghana. - Nampa
“The subdued global trade could be a major reason, as it has impacted African economies differently. Some through falling commodity prices and others through the shrinking demand for manufactured goods. [Thus] we need to find innovative ways of increasing intra-Africa trade,” Nandi-Ndaitwah said at the opening of the third session of the Namibia-Ghana Joint Permanent Commission of Cooperation (JPCC).
The Namibia-Ghana JPCC has made progress and signed a significant number of agreements and memorandums of understanding (MoUs) to strengthen their economies, she said.
“We have signed six agreements and MoUs and 14 more are set to be negotiated during the third session of our JPCC covering a wide range of sectors.”
Business environment
The minister added that it is a priority to improve the business environment, promote investments and support the development of small and medium enterprises (SMEs).
Speaking at the same event, Ghana’s deputy minister for foreign affairs and regional integration, Charles Owiredu, said the JPCC needs to encourage private investment as well as trade between the two countries.
“We must encourage private sector investment in our respective countries and improve trade between our two countries, taking advantage not only of our bilateral agreements but also the multilateral ones such as the African Continental Free Trade Agreement (CFTA), of which both countries are signatories,” Owiredu said.
He invited the Namibian private sector to take advantage of the incentives being offered in Ghana. - Nampa
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