UK Govt Assures Private Sector

Mr. Paul Boateng, chief Secretary of the United Kingdom Treasury, yesterday assured Ghana’s private sector of the UK’s commitment towards removing barriers to fair trade.

The UK, he noted, had initiated various structure to ensure that developing countries had a fair share of trade market there. Mr. Boateng gave the assurance when he called on the Minister of Private Sector Development, Mr. Kwamina Bartels, in Accra as part of his three-day visit to the country.

He gave the assurance after the Minister called for a review of policies of the UK that affect the growth of the private sector, particularly those in the export market of developing countries.

The Chief Secretary stressed the vital role the private sector played in socio-economic development saying that the UK government was anxious to work closely with governments of developing countries for the creation and implementation of the necessary framework and policies to enhance trade.

He commended the government for its efforts towards good governance, and reiterated the need for both governments to work together. Mr. Bartels, in his remarks, observed that the sector still lacked access to funds and loans.

He said access to the UK’s Millennium fund for Development “should not be made cheap but a lot more easier”. Mr. Bartels called for the institution of “structures to make accessibility of funds easy for sectors that ginger the growth of the economy”.

The Minister further deplored the huge export duties slapped on processed products exported from Ghana to the UK and expressed appreciation to the UK government, particularly DFID for the immense support for economic growth.