Business News of Thu, 5 Apr 20180
Ensure Ghana conforms to world trade rules – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has charged the newly constituted board of the Ghana International Trade Commission to ensure that Ghana conforms to the rules and regulations governing the world’s trade system.
According to President Akufo-Addo, Government has taken the decision that “we want our relations with other nations, within and outside of the continent, to be characterised by an increase in trade and investment co-operation, and not aid.”
He noted that this is the way to develop healthy relations, and put Ghanaian products at the high end of the value chain in the global marketplace, and, thereby, create jobs for the teeming masses of Ghanaians, particularly the youth.
The role of the Ghana International Trade Commission (GITC), in the view of his Government, the President stressed, is critical towards the realization of his Government’s vision.
GITC, President Akufo-Addo, has said been established to serve as Ghana’s response to the need to adopt many of the rules and regulations of the World Trade Organisation, with reference to the application of trade contingency measures, akin to what is being done in the United States of America by the United States International Trade Commission, and by the International Trade Administration Commission of South Africa.
As is stipulated in Section 3 of the Ghana International Trade Commission Act, 2016 (Act 926), GITC is, amongst others, to investigate and adjudicate on complaints by domestic producers relating to dumping, subsidisation and import upsurges; adjudicate on complaints by importers relating to customs valuation; and recommend tariff levels to Government for specific sectors of the economy.
Additionally, GITC is to monitor and advise the Government on Ghana’s compliance with its bilateral and multilateral trade obligations; and provide information and training to domestic industries, the trading community and public service actors and lawyers on trade remedy procedures.
“Above all, working against dumping will strengthen the ability of our domestic producers to satisfy our domestic market. The future growth of our economy is closely linked to the growth of the domestic productive sector,” the President added.
He continued, “These are clear directives, and you are to ensure that our nation conforms to the rules and regulations governing the world’s trade system. This is a heavy charge I give to you, members of the newly constituted Board of GITC, and it is my hope and expectation that you will ensure the full implementation of these directives.”
The President urged members of the GITC Board to bring their rich experience and expertise to good and beneficial use for the effective administration of the Trade Commission, and, ultimately, to the benefit of the Ghanaian people.
“The task ahead of you is a daunting one. It is my fervent prayer that you will be up to it. You have my full support to undertake all the measures required to enable you succeed. The Minister for Trade and Industry will work closely with you so that we all remain on the right track,” he said.
President Akufo-Addo, in concluding, noted that “much of the future development of our country is reposed squarely on your shoulders.”
The Board of the GITC is chaired by Nana Adu Gyamfi, and its membership comprises Sophia Kokor, Prof. Paul Kurkuk, Arnold Tetteh Okai and Philip Jude Mensah.