Ghana's private sector risked losing out

Ho, Dec 8, GNA - Ghana's private sector risks losing out on the benefits under the ECOWAS Common External Tariff (CET) regime in future because the players in the sector have not shown interest to make inputs towards the determination of the tariffs.

Mr Frimpong Kwarteng-Amaning, the Acting National Co-ordinator of the ECOWAS Common External Tariff, said this at a two-day workshop on international trade issues in Ho. He said the private sectors of Nigeria and the French speaking countries would certainly reap the benefits under the CET because their private sectors were positioning themselves to secure their interests under the new dispensation.

Mr Kwarteng-Amaning said the private sector in Cote d'Ivoire for example had been sending a strong team of 12 representatives to every ECOWAS forum on the new tariffs likewise Nigeria. He expressed regret that the Ghanaian private sector had developed cold feet towards such negotiations, adding "In Ghana they want government to do so on their behalf". Mr Kwarteng-Amaning said unlike Ghana, the private sectors in the Francophone countries were ready to sponsor government officials to such negotiations.

This seemed to be because their private sector players were mainly expatriates, who understood the issues involved. "I have to go to every office and factory to collect data and deliver letters personally to them but still the response is lukewarm." Mr Kwarteng-Amaning said the CET was expected to have come into effect in December this year (2010) but that could not be due to some rough edges that must be smoothened out.

He said the next target was 2011 after the ECOWAS Heads of State approved of the new tariffs which must be accepted by the World Trade Organisation (WTO) for the new tariff regime to come into effect. Participants appealed to the Ministry of Finance and Economic Planning to explain the issues involved further to the sector and get the Association of Ghana Industries to take up the matter.