Where their interest rates are between 2-3 percent, sometimes 1%, our average is around 20%. There would be more activities in November-December than you actually see here at the moment,” Richard Mann said.According to the project co-ordinator, construction of the revetment and breakwater is on-going, entering its final stage and expected to be completed in September 2020.He added that reclamation is 30% complete, with the fabrication of concrete blocks for the erection of the quay wall is set to be completed in November while the construction of the underwater quay wall is set to be completed in January 2021.Although the entire fishing port and landing site is currently 42.01% complete, the project co-ordinator assured the President that the Axim Fishing Port and Landing Site Project will be completed as scheduled by September 2021.The Minister for Transport, Kwaku Ofori-Asiamah, added that additional nine (9) building facilities will be constructed at the site including an administration building, fish market, net mending hall, ice making plant, large workshop, fuel depot, day care, toilet, and a power station.A Chief Revenue Officer of the Customs Technical Services Bureau, Customs Division of the Ghana Revenue Authority, Fechin Akoto has disclosed that African Customs are working towards eliminating substantial amount of tariffs upon commencement of the African Continental Free Trade Area.“7% of the tariff lines fall under sensitive products. Welcome to Tema Port. Tel: +233 (0) 303 219120 Fax +233 (0) 303 204136 Email:tema@ghanaports.gov.gh

It is more about what you have negotiated and you should look at factorial performance of your economy, and you would realise that if you are not careful, what you think you are running away from, which is competition…you cannot be over protectionist for a long time,” he warned.The panellists in turns, debated on the conflicts arising from the GPIC Law that does not allow foreigners to engage in retail business in Ghana, vis-a-vis that of the laws of ECOWAS.“I know there is a reason to grief for some of these traders and I know that the freedom of establishment and the freedom of abode, freedom of movement, are embedded into the ECOWAS treaty, but then, we get into the grey area because the various countries say that their countries’ regulations have to be respected by whichever traders which are trading in their domain. Unfortunately, for the past few weeks, because of the delay in the meetings of the Heads of States, in order for a direction all the countries should go together. The African Continental Free Trade Area has been instituted by member states within the African Union Commission to enable the creation of a single continental market for goods and services as they move freely within the continent.The President of the Republic of Ghana, Nana Addo-Dankwa Akufo Addo on Monday 17th of August 2020 commissioned and handed over the Secretariat of the AfCFTA to the African Union Commission in Accra.Barring any unforeseen circumstances beyond administrative control, the African Continental Free Trade Area is expected to begin full implementation by January 2021.Members of the local trading public and civil society have expressed some level of concern regarding the understanding of the protocols guiding the trade agreement as well the full advantages it brings to the ordinary citizen.Speaking on Eye on Port, the President of the Ghana Union of Traders Association, Dr. Joseph Obeng, re-echoed the sentiments of traders and solicited for more clarity on the trade protocols.“I have been demanding some education, otherwise the expectation that they have is so huge that if care is not taken, we cannot even take off without encountering problems,” he bemoaned.He called for access to information by economic operators and the trading public in order for them to benefit from the single continental market and urged customs to embark on aggressive training programmes that would educate the trading community on practices within the AfCFTA.“Our ministries, Investment Promotion and Export Promotions are to deal with this and give us information.

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