17
Mon, Dec

TIES WITH COUNTRIES MUST INCREASE TRADE, INVESTMENT - President Akufo-Addo

Business & Economy

President Nana Addo Dankwa Akufo-Addo has reiterated the determination of his government to ensure that Ghana’s relationship with other countries in and out of Africa is characterized by an increase in trade and investment.

President Nana Addo Dankwa Akufo-Addo has reiterated the determination of his government to ensure that Ghana’s relationship with other countries in and out of Africa is characterized by an increase in trade and investment.

 

This, according to the President, is the surest way to breed healthy relations between Ghana and other countries, as well as put Ghanaian products on the international market which would create jobs for Ghanaians, particularly the youth.

President Nana Akufo-Addo made this remark yesterday when he swore in a 5-member committee for the Ghana International Trade Commission Board at the Jubilee House.

GITC was 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 application of trade contingency measures, akin to what is being done in the United States of America by the United States International Trade Commission.

The President disclosed that, as stipulated in Section 3 of the Ghana International Trade Commission Act 2016, Act 926, the Commission is mandated to investigate and adjudicate all complaints by domestic producers relating to dumping and subsidization.

He added that the Commission is also tasked to adjudicate complaints by importers relating to customs valuations; recommend tariff levels to government for  specific sectors of the economy; and monitor and advice Ghana’s compliance with its bilateral and multilateral trade obligations.

“Above all, working against dumping will strengthen the ability of our domestic producers to satisfy our domestic market,” he said.

President Akufo-Addo stressed that the future growth of Ghana’s economy is closely linked to the growth of the domestic production sector.

“These are clear directives and you are to ensure that our nation conforms to the rules and regulations governing the world trade system. This is a heavy charge I give to you,” he charged them.

President Nana Akufo-Addo said he was hopeful that the board would ensure the full implementation of the directives.

The members of the board are Nana Adu Gyamfi, Chairman; Sophia Korko, Paul Kurkuk, Philip Jude Mensah and Arnold Tetteh Okai.

Follow Us