Government negotiating dispute settlement protocol under AfCFTA
Alan Kyeremanten, Trade and Industry Minister
Minister for Trade and Industry, Alan Kyeremanten, says government is currently negotiating a dispute settlement protocol under the African Continental Free Trade Agreement (AfCFTA) to facilitate free trade movement.
Read full articleThis follows efforts by government to protect traders and activities among countries in order for them not to flout trade barrier laws.
Under the new protocol, the minister says any country that is part of the Continental Free Trade Area (CTFA) can file an action against the country that flouts trade laws when instituted.
“The closure of the Nigerian border can be considered as a trade barrier and we have negotiated under the CFTA a protocol on dispute settlement, so unlike what exits in the current protocol, any country that feels aggrieved by an act or issue by another country that is part of the CFTA can file an action against that particular country or trading group,” he explained to reporters.
“We are also required by the law to resolve to that matter so its not going to be business as usual as it currently exits,” he assured.
The trader’s union, Ghana Union of Traders Association (GUTA), earlier called Nigeria’s stance on the closure of its borders as a breach of ECOWAS protocol and expressed disappointment at the government of Ghana’s silence on Nigeria’s decision to shut its southern borders in contravention on trade and exports of goods and people.
“Several goods destined for the Nigerian market are now stranded at the Togo-Benin border. Most of our Ghanaian traders have had their goods locked up at these borders for months and that doesn’t augur well for the trade and exports of goods,” President of GUTA, Dr. Joseph Obeng earlier said.
Nigeria’s decision to close its borders
Last year, the Nigerian government in its Prohibited and Restricted Imports list banned the importation of some 45 products including rice, cement, textile products cocoa butter and other products it currently manufactures.
Nigerian President Muhammadu Buhari, in August 2019, ordered a partial closure of the Togo-Benin border to check the smuggling of cheap goods into Nigeria.
