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Egypt, Ghana reach 1st commercial deal under the umbrella of AfCFTA

Minister of Trade and Industry Ahmed Samir said that the initiative to implement the first commercial deal exporting food products from Egypt to Ghana falls within the framework of the African Continental Free Trade Area (AfCFTA).

This came during Samir’s speech in his virtual participation in the 10th ministerial meeting of the AfCFTA, currently in session in the Ghanaian capital, Accra.

Assistant Minister of Trade and Industry for Economic Affairs Ibrahim el-Sajini is leading the Egyptian delegation to the meeting.

The heads of state and government of member states gave directives to expedite the implementation of preferential trade agreement within the framework of the AfCFTA, the minister said.

He also noted that the current ministerial meeting is an important step towards the effective and equal implementation of the agreement, which was ratified by 23 countries and came into force in May of 2019.

Egypt stresses the importance of organising meetings between businessmen to discuss export opportunities in new sectors, the minister said.

He added that the Egyptian trade and industry ministry is preparing to hold introductory seminars to raise awareness among manufacturers and exporters of the importance of the agreement and the benefits from exporting under its umbrella.

AfCFTA launched a Guided Trade Initiative at its 10th African Trade Ministerial Meeting on Friday.

The initiative symbolises the beginning of commercially meaningful trade on a pilot basis between Ghana, Cameroon, Egypt, Kenya, Mauritius, Rwanda, Tanzania, and Tunisia.

These countries were selected to represent the five African Union (AU) regions, namely: Western, Central, Eastern, Southern and Northern Africa, respectively.

The trade initiative directed to the free trade zone aims to send a message to Africa and the rest of the world to start activating trade using the procedures of the African Continental Free Trade Area.