Government is to establish a Ghana International Trade Commission (GITC), within the course of the year to enable the nation take advantage of the remedies on piracy, anti-?dumping and countervailing measures.
This was disclosed yesterday by President John Mahama when he delivered his second state of the nation’s address to Parliament in Accra.
According to him “the overall effect of this commission would be to boost our domestic and international competitiveness.”
He said globalisation and trade liberalisation had brought in their wake a number of unfair trading practices such as dumping of cheap products by foreign exporters, adding the commission would help check the practice.
He also disclosed that the Free Zones Board had licensed 23 new companies that were expected to generate more than 10,000 new jobs over the next three years.
Touching on the Ghana Commodity Exchange (GCX), the President said “government has committed itself to the establishment of a Commodity Exchange and associated Warehouse Receipt System (WRS),” as part of efforts to create an orderly, transparent, and efficient marketing system for Ghana’s key agricultural commodities to promote agricultural investment and enhance productivity.
In the interest of regional solidarity, President Mahama said “Ghana is committed to the collective position of the Economic Community of West African States (ECOWAS) in conformity with the region’s common goal.” He was optimistic that the process of negotiation between the EU and ECOWAS would be concluded in line with Market Access Regulations.
He assured that Government would support the Ghanaian industrial sector in the form of affordable financial credit for retooling and expansion in the area of Ports and Trade Facilitation to enable it generate jobs, reduce poverty and increase manufactured exports.
Source: ISD
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