The Speaker of Parliament, Mr Alban Sumana Kingsford Bagbin says Ghana is strategically positioned to become a major trade and investment hub linking Africa, the Euro-Mediterranean region and the Gulf States.
He attributed the country’s advantage to its stable political environment, strategic coastal location and improving transport and port infrastructure, which he said make Ghana an attractive gateway for regional and international commerce.
“Ghana has a strategic advantage which positions the country to boost both intra- and inter-regional trade. Not only is Ghana positioned at the centre of the world, its location on the West African coast also offers a natural gateway to both landlocked Sahelian states and global shipping lines,” he stated.
Mr Bagbin made the remarks at the Fourth Marrakesh Parliamentary Economic Forum held in Morocco on Friday and Saturday.
The event was organised by the Parliamentary Assembly of the Mediterranean and the House of Councillors of the Kingdom of Morocco in partnership with the Parliamentary Network of the World Bank and the International Monetary Fund (IMF).
He added that the deliberate alignment of the country’s industrialisation and export diversification strategies, as well as its transition to a 24-hour economy, would ensure continuous production, trade facilitation and global competitiveness.
Mr Bagbin urged regional economic blocs to move beyond intra-regional integration and build inter-regional partnerships to enhance trade and expand economic opportunities for mutual benefit.
“We must move beyond building regional economic silos to constructing formidable relations across regions, especially within the Euro-Mediterranean and Gulf States,” he said.
Mr Bagbin explained that the Government of Ghana had developed a policy framework and action plan for the African Continental Free Trade Area (AfCFTA), alongside a National Export Development Strategy, to revitalise the country’s export sector with a focus on Africa’s market of more than 1.3 billion consumers.
According to him, the action plan provides guidelines for implementing the AfCFTA through value addition to exports, strengthening local capacity to compete effectively with imports and expanding opportunities for job creation.
BY BENJAMIN ARCTON-TETTEY
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