AGI tasks Spio-Garbrah

Chief Executive of the Association of Ghana Industries (AGI), Seth Twum-Akwaboah has named major constraints facing industry in Ghana as unfair competition from cheap imports, lack of access to finance and the unreliable power supply.

The textiles, printing and now the aluminium industries are already threatened and in danger of folding up and laying its workers off, he said.

Some of the world’s major economic powers have imposed varying degrees of counter measures to combat the dumping of goods, especially aluminium products by China, into their countries.

The US has imposed additional tariffs of +59.31%; Canada has imposed additional tariffs of +179% of shipment value; India has imposed +12-14%; and Australia +16%

Mr Twum-Akwaboah, who was speaking in an interview with CITI BUSINESS, insisted that Ghana cannot develop on the back of imports, adding that the challenges called for a structured regular intervention.

He also called on Dr Ekow Spio-Garbrah, Minister of Trade & Industry, to work on how to expand the Export Development and Agricultural Investment Fund to include equity and loans to support the manufacturing sector.

“As always AGI has been working with every minister so we can remove obstacles in the development of industry in Ghana so it will foster our development, we have large volumes of imports coming into the country to compete in selling in the local industry and that has had a huge toll on the local industry killing the local industry.”

Dr. Ekow Spio-Garbrah, during his swearing-in ceremony, assured President John Mahama that he would put in “his optimum best” to ensure the realization of the nation’s goals.

The AGI gave assurance that it would work with government and its business leaders to provide the necessary remedy for the economic development of the country.