Accra, Ghana
A new report by the Ghana International Trade and Finance Conference (GITFiC) calls for a strengthened trade partnership between Ghana and Morocco to capitalize on the African Continental Free Trade Area (AfCFTA). The report highlights significant untapped potential in sectors like:
- Agriculture: Ghanaian produce, such as fresh fruits, vegetables, and processed agricultural products, can find a ready market in Morocco. Conversely, Moroccan fertilizers, advanced irrigation technologies, and agricultural expertise can significantly enhance Ghanaian agricultural productivity.
- Manufacturing: Moroccan expertise in automotive manufacturing, textiles, and other industries can foster technological transfer and support the development of Ghana’s manufacturing sector.
- Tourism: Morocco, with its well-developed tourism infrastructure, can offer invaluable expertise to Ghana in developing its tourism sector. Exploring joint tourism packages combining the cultural richness of both countries can attract a wider range of international tourists.
- Energy Cooperation: Morocco, a leader in renewable energy development, can share its expertise and technologies with Ghana in harnessing solar and wind power, contributing to Ghana’s energy security and sustainable development. 1
Overcoming Barriers:
The report emphasizes the need to address key challenges, including:
- Non-tariff barriers: Streamlining customs procedures, harmonizing standards and regulations, and improving information access are crucial.
- Infrastructure constraints: Investing in transportation infrastructure, such as upgrading roads, expanding port facilities, and enhancing air and maritime connectivity, is essential.
- Financial barriers: Addressing limited access to finance for SMEs through trade finance facilities, access to credit, and support programs is vital.
Key Recommendations:
- Government Leadership: Governments must champion the partnership, create an enabling environment for trade and investment, and promote policy dialogue under the AfCFTA.
- Private Sector Engagement: Fostering business-to-business collaboration, supporting SME development, and leveraging business associations are crucial.
- Civil Society Involvement: Civil society organizations must play a vital role in raising public awareness, advocating for policy changes, and supporting the development of local businesses.
A Call to Action: Unleashing AfCFTA Potential and Supporting the Global Debt Initiative
The report concludes with a call to action for all stakeholders to actively engage in efforts to strengthen the Ghana-Morocco trade partnership. By capitalizing on their respective strengths and addressing existing challenges, both nations can contribute significantly to the success of African economic integration. Furthermore, the report underscores the critical need to address the global debt crisis. In line with the Global Debt Initiative, GITFiC is calling upon member states to support efforts to address unsustainable debt burdens. This includes advocating for debt relief mechanisms and promoting sustainable debt management practices to ensure that economic growth in Africa is not hindered by excessive debt.
By Isaac Osei Owusu, Lead Research, advocacy and Policy Analyst
For info: visit https://gitfic.com/