News

Improve On Transparency Standards- Professor Abotsi Urges AfCFTA Secretariat

The Dean of the Law School of the University of Professional Studies, Accra, Professor Kofi Abotsi, has called for enhanced transparency in the operations of the African Continental Free Trade Area.

Such a move, he stressed will boost confidence among businesses and encourage intra-trading on the continent.

Advertisement

Speaking to Joy Business at an International lecture under theme “Dispute Settlement under the AfCFTA and the new African Legal Market”, Professor Abotsi said the secretariat should be resolute in strengthening it values of transparency to sustain the trading regime.

He remarked that this will support the structures and systems of the AfCFTA in decisions with respect to dispute settlement.

“In any trading regime what sustains the regime is the sense of transparency and the sense of members gaining equally. AfCFTA should bolster its transparency values for a formidable system”, he said

Advertisement

Chief Executive Officer for the Ghana Chamber of Bulk Oil Distributors, Senyo Hosi explained that the lack of an independent legal system under the AFCFTA will restrain investor confidence.

“It’s quite scary in our highly polarised environment with politics taking over. We need to look at the independence of various structures dealing with trade related issues or else it will inhibit investor confidence”, he revealed.

The dispute settlement mechanism, according to the AfCFTA Secretariat, shall preserve the rights and obligations of state parties under the agreement and clarify the existing provisions of the agreement.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

233shadow

Shadow a.k. Thomas Evans Selah-Ahegbebu is an avid writer of entertainment and life style stories. I love to meet and learn new ways of doing things. Topics of interest are; Medicine, Entertainment & Life Style

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement
Back to top button