September 18, 2020

#CitiBusinessFestival: Final virtual forum to focus on trade today

The last of the four virtual business fora for this year’s Citi Business Festival is scheduled to come off today, Tuesday, June 23, 2020 on Citi TV.

Under the theme ‘Will export/import trade ever be the same again?’, the virtual business forum will discuss key areas of trade to suggest solutions to keep the sector going.

It will focus on things the trade or export sector must do to survive the immediate crisis, retain stability and resume growth in the medium to long-term.

COVID-19 has resulted in countries increasingly protecting their markets.

Globally, there have been conversations about protectionist measures being taken by some of the major economic powers.

According to the World Trade Organization, “world trade is expected to fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the world. Estimates of the expected recovery in 2021 are equally uncertain, with outcomes depending largely on the duration of the outbreak and the effectiveness of the policy responses.”

Ghana, before COVID-19, had been preparing for the Africa Continental Free Trade Area (AfCFTA). The execution of AfCFTA is expected to create the biggest economic trade zone in the World.

However, trade faces so many hurdles in this era of uncertainties.

Ghana and Africa are on the lookout for opportunities in new markets but faces tougher challenges.

Specific areas to be discussed include how Ghana and Africa can navigate the waters now, what does AfCFTA mean for Small and Medium Enterprises, and how does the continent position itself to move from intermediate and agricultural exports to exporting finished manufactured goods, and consuming same locally amongst others.

Discussants include; David Ofosu-Dorte, Senior Partner of AB&David and member of Afrochampions, and Ellen Ohene-Afoakwa of Absa Ghana limited.

Others are; Michael Kottoh, Konfidants and member of AfroChampions, and Yofi Grant, CEO of the Ghana Investment Promotion Centre, GIPC.

The forum, which will be via zoom, will be live on Citi TV and Facebook from 11:00am to 1:00pm.

Meanwhile, the on-air series of the Citi Business Festival continues on the Citi Breakfast Show every day at 9.00 am in the month of June.

The 2020 edition of the Citi Business Festival started on Monday, June 1, 2020, with an array of radio and TV programmes.

It is sponsored by the Ghana Investment Promotion Centre (GIPC), ABSA Bank, Citi FM and powered by Ghana’s most comprehensive business news website,

Source: Business