Ghana best placed to drive inter-regional trade — Bagbin

Ghana is strategically positioned to become a significant trade and investment hub, connecting Africa with the Euro-Mediterranean region and the Gulf States, according to Speaker of Parliament Mr. Alban Bagbin.

Bagbin attributed Ghana's advantageous position to its stable political climate, strategic coastal location, and ongoing improvements in transport and port infrastructure. He highlighted these factors as making Ghana an attractive gateway for both regional and international commerce. "Ghana has a strategic advantage which positions the country to boost both intra- and inter-regional trade," he stated, adding that its location on the West African coast serves as a natural gateway to landlocked Sahelian states and global shipping routes.

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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.

Speaking at the Fourth Marrakesh Parliamentary Economic Forum in Morocco, Bagbin emphasized the need for regional economic blocs to look beyond intra-regional integration. He urged them to build robust inter-regional partnerships to enhance trade and broaden 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 advised.

He further explained that Ghana's government has developed a policy framework and action plan for the African Continental Free Trade Area (AfCFTA). This, along with a National Export Development Strategy, aims to revitalize the country's export sector, focusing on Africa's market of over 1.3 billion consumers. The plan provides guidelines for implementing the AfCFTA through value addition, strengthening local capacity, and creating jobs.

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We must move beyond building regional economic silos to constructing formidable relations across regions, especially within the Euro-Mediterranean and Gulf States.