The framework, whose development has been led by Ghana with technical support from regional trading blocs and the private sector, will facilitate cross-border transactions, the-star.co.ke reports. They largely include ecommerce, public procurement and payments especially from the diaspora estimated at USD 160 billion annually.
The adoption of the framework will lead to formation of a company, largely owned by the AU member states, to be known as Pan-African Trade Hub System. Foreign Affairs and International Trade CS Amina Mohamed said the proposed platform will expedite regional and continental integration, strengthening the competitiveness of the Africas trade system.
The lobbying will centre on harmonisation of existing national and regional legal and policy frameworks. The framework will seek to facilitate government to business, business to business and business to consumer transactions in goods and services, according to Ghanas Trade minister Ekwow Spio-Gharbrah.
He said the realisation of the project will help grow the underperforming infra-Africa trade, which stands at about 2% of global trade and 15% of African trade.
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