Chairman of McDan Group, Daniel Mackorley has hinted of plans to establish a research Centre for African Trade at the University for Professional Studies Law School.
The Centre which is subject to approval will among other things serve as an institute to lead a charge on trade research, capacity building and coordination of initiatives under the Africa Continental Free Trade Area.
Dr. McKorley made the closure during a lecture in his honor on the topic, “the AfCFTA and the new age of African enterprise”.
He used the occasion to donate a Nissan mini bus to the Law Faculty as his support to the activities of the school.
The lecture by the Secretary General of the African Continental Free Trade Area Secretariat, Wamkele Mene was under the theme: creating the next generation of entrepreneurs through AfCFTA.
Dr. Mckorley believes that the current business entrepreneurs have the best potential to make Intra-African trade a great deal for Africa.
Wamkele Mene in his address expressed confidence that all outstanding negotiations on the Africa Continental Free Trade Area will be concluded by next year.
“Phase I of the AfCFTA aims to significantly reduce tariffs and non-tariff barriers to goods and advance in the liberalization of trade in services. Phase II, involves agreements on investment, competition policy and intellectual property (IP) rights, while Phase III will involve provisions on e-commerce.”
“The expectation is that negotiations on all these phases will be completed by the end of 2021” he noted.
He has also assured that Africa can achieve its transformational agenda with greater focus on industrialization.
“Promoting industrialisation is back on Africa’s economic policy agenda, with renewed impetus and vigour.”
The AfCFTA which is meant to create a tariff-free continent if fully implemented, could result in increased trade and investment which would be a significant boost to the continent’s efforts at industrialization.
The implementation of the AfCFTA would also help to develop essential regional value chains, where two or more regional member states are jointly involved in producing for some other country or for themselves, which could accelerate Africa’s integration into the global economy”.
Chairman of the McDan Group is hopeful that the governing council will consider the idea and begin the establishment before