WTO valuation system to come into operation on April 1

Kumasi, March 29, GNA - The Customs Valuation System of the World Trade Organisation (WTO) would be introduced in the country as from April one, Mr Emmanuel Martey, Freight Manager of the Ghana Shippers Council, said on Wednesday.

He said the new valuation system would address the problem of delays in the clearance of goods from the ports as well as ensuring that true values of goods are declared by importers and exporters in furtherance of government's objective of making Ghana the gateway to the West African Sub-Region.

Mr Martey said this at a day's seminar on WTO, organised by Ghana Shippers Council (GSC) in collaboration with the Customs, Excise and Preventive Service (CEPS), and Gateway Secretariat for businessmen and businesswomen, security officers, shippers, trading companies and financial institutions in Kumasi.

Similar seminars have been held in Accra and Takoradi. The Freight Manager said WTO is the main organ of governance and management of global trade. He called on the shipping and trading community to endeavour to present genuine documents to the CEPS for valuation and then expect speedy clearance of their goods from the port.

Mr Martey said the new system has benefited tremendously from the practical implementation of earlier valuation systems notably the Brussels Definition of Value as it has duly taken cognisance of its explanatory notes, which sought to facilitate its implementation.

Commander Pius M. G. Griffiths (rtd), a Deputy Minister of Trade and Industry, said following the modest achievements in infrastructure expansion and macro-economic reforms, the government is focussing on tackling the practical problems faced by operators to enhance competitive trade flows.

He said high trade transaction costs, including the high cost of processing documents has been recognised as a major limiting factor to competitiveness. The Deputy Minister urged business houses to move away from the old ways of doing business, adding, "you must subject operations to review and re-engineering programmes to enhance your productivity and competitiveness".

He said the government on its part is providing a new orientation, which seeks to make the private sector a partner and whose wellbeing would reflect the strength of the government itself.

Nii Adjei Okine, Commissioner of CEPS, urged the business community to learn the WTO valuation system so that they do not face any difficulties as in the past. Nana Akwasi Agyeman, Kumasi Metropolitan Chief Executive, in a welcoming address, noted that the success of the WTO system would depend on the genuineness of invoices traders present to CEPS officers.

He urged CEPS and other security agencies to check smuggling and other negative activities, which impede the economic development of the country.