Business News of 2014-07-28

Reconsider trade liberalisation policy — AGI

The President of the Association of Ghana Industries (AGI), Mr James Asare-Adjei, has urged the government to institute measures to reassess the trade liberalisation policy, while still promoting international trade. According to him, the policy had led to the situation where foreign products had flooded the local market, displacing local products.

“This policy comes with trade-offs that we are compelled to contend with. Our local products continue to be displaced by foreign goods. Our concern as industrialists is the measures that can be put in place to mitigate the impacts of such influx of imports on local business,” he said.

Mr Asare-Adjei made these remarks at the investiture of new executive of the Advertisers Association of Ghana (AAG) in Accra last Saturday.

The newly elected executives are Mr Joel Nettey, President, Ms Mansa Amowuah, Vice-President and Mr Martin Osei, Treasurer. They were sworn in by a High Court Judge, Mrs Naa Adoley Azu , who urged them to institute measures that would promote the industry.

AAG is the professional body and institute responsible for the country’s advertising and marketing communications business. Targeted tax policy Mr Asare-Adjei said there was the need for the government to adopt targeted tax policy to discourage the importation of raw materials to encourage local businesses.

“Our manufacturing sector, which forms an important nexus in our industrial cluster, has often borne the brunt of the influx of imports” he added. The AGI, he said, would continue to engage with government to ensure a fair business climate.

However, the president appealed to AAG to encourage the promotion of made-in-Ghana goods,adding that “our local brand deserves a prime airtime and space in our supermarkets and can compete with the foreign brands when the necessary attention is given”.

The effort to acquire an advertising law to regulate practice, he said, was a good initiative and pledged his outfit’s interest to support the cause.

The President, Mr Joel Nettey, ,pledged the commitment of the new executive to ensure the needs of all interest groups in the association, including media agencies , outdoor companies, production houses and creative agencies. He also thanked members for the confidence reposed in them to steer the affairs of the association.

The president urged corporate and individual members of AAG to share with the executive and council, concerns, observations, advice and ideas on how to move the industry forward The outgoing President of the association, Mrs Norkor Duah, also congratulated the new executive and urged them to work hard to move the association forward.

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