Harmonise dispute resolution mechanisms – GITFIC

Ghana International Trade And Finance Conference Gitfic
Ghana International Trade And Finance Conference Gitfic

Participants at the just-ended 6th conference of the Ghana International Trade and Finance Conference (GITFIC) have called for the institution and promotion of stronger collaboration on research and development among association of African countries.

They have also agreed that identified challenges should be addressed and given a sustained strategic priority.
A communique signed by Mr Selassi Koffi Ackom, Chief Executive Officer of GITFIC and copied to the Ghana News Agency in Accra also called on African countries to ensure the harmonisation of the dispute resolution mechanisms of the regional economic communities and the AfCFTA.

“ Leverage existing technologies to promote digital literacy, particularly, in the informal sector and encourage African start-ups and fintech to build a system that enhances cyber security intelligence and reduces identity theft.”

Participants also called for the building of institutional capacity among stakeholders and businesses in the formal and informal sectors in the implementation of the Pan African Payment and Settlement System (PAPSS).

The two-day conference brought together industry players from most African countries to synergize ideas on trade, commence and integration.

The communique also called for the harmonisation of the rules on the conduct of business and risk profiling and to evelop a model which would ensure seamless interoperability of mobile money systems and the PAPSS.

“Financial institutions should also streamline, improve transparency, and offer competitive charges for cross-border transactions under AfCFTA and State Parties should be given the necessary technical support to urgently establish the National Monitoring Committees and National Focal Points on Non-Tariff Barriers (NTBs).”

Participants also called for the strengthening of education, sensitisation, awareness, and upskilling of national key stakeholders to harness the benefits of AfCFTA.

“Facilitate the negotiation process on the AfCFTA protocol on women to improve gender inclusiveness, and complement existing gender charters.”

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