21.09.2016 Business & Finance

UN: Africa needs fair chance to trade not sympathy - Mahama

By MyJoyOnline
UN: Africa needs fair chance to trade not sympathy - Mahama
LISTEN SEP 21, 2016

President Mahama has made a case for fairer terms of trade to enable Africa to build on the economic and development progress achieved so far.

The President in a speech to the 71st UN General Assembly touted the opportunities for Ghana and Africa with the advent of democracy.

However, the President was emphatic that improved economic conditions and fairer terms of trade are the way to prevent much-frustrated youth from undertaking the perilous journey to Europe through the Mediterranean.

“Some of the young Africans who hazard the desert and Mediterranean Sea to cross to Europe from my country are young poultry farmers or other entrepreneurs who sell their shops and undertake the journey because they can no longer compete with the tons of frozen chicken dumped on African markets annually or the adverse business environment they have to face,” he said.

"Africa does not need your sympathy or Overseas Development Assistance. Africa needs a fair chance to trade with the rest of the world and amongst ourselves. The progress towards the creation of a Continental Free Trade Area (CFTA) is commendable and must be fast-tracked," the President said.

According to him raising intra-African trade alone from the paltry average of 15 percent will create better opportunities for Africa's youth adding "We can achieve a lot in collaboration with the rest of the world and yet we must realize that a lot rests on our own capacity to achieve as Africans."

On Ghana, President Mahama indicated that business confidence in the country is rising citing the recent decision to allow citizens of other African countries travelling to Ghana to obtain visas on arrival.

He believes this would stimulate trade and investment if it were replicated across the continent.

Story by Ghana | | Abubakar Ibrahim | Email: [email protected]

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