Business News Mon, 29 Nov 2021

Supply your customers with Made in Ghana products - AGI to GUTA

32 categories of items will no longer be granted special discounts

Stop attacking local manufacturers, AGI to GUTA

Cooperate with us on reversal of 50% benchmark value policy, AGI

The Association of Ghana Industries (AGI) has advised its trading counterparts, the Ghana Union of Traders Association (GUTA), to supply their customers with Made in Ghana goods.

This comes after GUTA called on government to rethink its decision on the reversal of 50% benchmark value on some selected goods at the ports.

According to the AGI President, Dr. Yaw Adu Gyamfi, the removal of the special discount on 32 categories of items will strengthen Ghana's industrialization agenda.

Speaking at the 61st Annual General Meeting in Accra, Dr Gyamfi entreated GUTA to desist from attacking local manufacturers, and rather support them to grow by supplying their customers with locally manufactured products.

“You may all recall that at our Annual General Meeting two years ago, at the Trade Fair Site, I stated that the 50% reduction in the Benchmark value of imports ran counter to Ghana’s industrial development agenda and for that matter, government own effort at industrializing the country through various policy initiatives, such as the IDIF."

"I cautioned that it posed a great threat to our local industry, today, a lot of manufacturing companies have been hit by this policy which is threatening their growth and competitiveness of the sector. That is why we are particularly appreciative of the government’s bold action to reverse the policy on selected products. It is important to emphasise that the policy has not been totally scrapped, it is only a review on selected products which are produced locally,” the AGI President said.

He added, “We urge our colleagues from Ghana Union of Traders Association (GUTA) to cooperate with us and resort to dealing in Ghanaian made products to supply their customers instead of attacking local manufacturers.”

It would be recalled that the Finance Minister, Ken Ofori-Atta, has approved the removal of 50% benchmark values on 32 categories of items at the ports during the 2022 budget reading in parliament on November 17, 2021.

Ken Ofori-Atta explained that the reversal of the benchmark policy on imported goods at the ports aims at promoting the local industry.

All items under the 32 categories currently enjoying port clearing discounts include sugar, noodles, palm oil, roofing sheets, toilet paper, facial tissue and towel, chocolates, Portland cement, clinker and mosquito coil.

Others are vehicles, ceramic tiles, aluminium products, cartons, textiles, fruit juices, among others.

Source: www.ghanaweb.com
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