Africa needs strong trade ties with Europe to be competitive – Kufuor

Former President John Agyekum Kufuor has called for a strong trade partnership between Africa and Europe.

The former President believes the two continents will be able to establish a formidable market against the other continents so far as international trade is concerned.

According to Mr Kufuor, competitiveness is the surest way to avoid being left on the sidelines of the global market.

Speaking to Citi News during a visit to his residence by some 17 CEOs of European companies, Mr Kufuor suggested that, a collaborative effort between Africa and Europe could lead to the establishment of a formidable market force against the other continents.

He said Africa’s possession of vast natural resources, human resources and explosive population growth when linked to Europe’s know-how and financial capital can make this dream a reality.

He added that this should not be difficult to achieve considering that the two continents are located in the centre of the world and only separated by the Mediterranean Sea.

He also stated that the establishment of the headquarters of the African Continental Free Trade Area (ACFTA) in Ghana is a step in the right direction since it will make the country the pivot of Africa’s trade successes.

The CEOs whose companies are mainly focused on construction, interior fixtures and decoration materials who have come to establish in Ghana through a Ghanaian counterpart believe Europe and Africa can jointly take over the world market through effective partnerships.

“In this global village that makes the whole world into one market, unless you are competitive you are left on the sidelines and so Africa, with all its natural endowment and an exploding population…is a market that should attract any entrepreneur.

“As it is now, Europe has the know-how, it has got the technology, and the capital and Europe needs a market and when you look geographically at the global map, it is Europe and Africa sitting in the middle divided only by the Mediterranean.

“If the people in the middle will cooperate, share technology on a partnership basis fairly, capital know-how then they become the real third force against the East that is Asia on one side, and America on one side. I tell you we will be very competitive,” former President Kufuor said.