Former Vice President of Ghana, Dr. Mahamudu Bawumia, recently shared a crucial message with global leaders at the International Democracy Union (IDU) Forum in Brussels. Apexnewsgh reports
He emphasized that trust and cooperation are essential for addressing trade imbalances and promoting economic growth.
Dr. Bawumia pointed out that protectionist measures like tariffs often exacerbate tensions and hinder economic growth, particularly affecting developing nations. He highlighted Africa’s marginalization in global trade, despite its vast natural resources and youthful population.
The former Vice President urged global leaders to prioritize trust and cooperation over isolationism. He advocated for the African Continental Free Trade Area (AfCFTA) as a transformative initiative to enhance intra-African trade and economic integration. Dr. Bawumia stressed that for AfCFTA to succeed, member states must commit to reducing non-tariff barriers and improving infrastructure.
“We must move beyond short-term fixes and work towards long-term solutions that benefit all parties involved,” Dr. Bawumia stated. He warned that reliance on tariffs could lead to trade wars detrimental to global economic stability. “Trust is the cornerstone of sustainable economic relationships,” he asserted.
Source: Apexnewsgh.com
