TITLE:
The Dos and Don’ts of the African Continental Free Trade Agreement Pose the Ghana’s Maritime Industry Vis-A-Vis Its National Industrialization Drive
AUTHORS:
Nicholas Nchor Kambase, Justice Awosomvire Akodia
KEYWORDS:
Trade Integration, African Continental Free Trade Agreement, Impacts on Ghana’s Maritime Industry, Single African Government
JOURNAL NAME:
World Journal of Engineering and Technology,
Vol.10 No.4,
November
25,
2022
ABSTRACT: The direct and indirect immensely contributions of free trade blocs/single market integration to the steadilygrowth of developed emergence and least developed economies are unmeasurable. The increasing insatiable demand and approval of the free trade model by almost all of the six continents to enhance their economic development has proved that its benefits have indeed outweighed the challenges.Therefore, this research just like the other internationally recognised literatureson this market system, intends to analysis the impacts of the important/dos, don’ts, opportunities, prospects and other important factors of the recent AU member States unanimously endorsement of AfFCTA’s implementation, will have on Ghana’s maritime industry. The possible quantitative findings in this study do uphold its immensely potential benefits impact on the African and Ghana’s maritime industry development and at the same time, indicate an irresistible gap pertaining to the downward progress of its implementation within the sector. These findings have apparently revealed that loss of revenue from scrapping off customs tariffs carries the highest percentage of all the challenges facing AfCFTA’s implementation and recommend that there must be an effective investment-oriented measures-FDI in harnessing the opportunities and prospects embedded in AfCFTA so as to accelerate Ghana’s maritime industry development in its implementation process.