Dr. Humphrey K. Ayim-Darke, President of the Association of Ghana Industries (AGI), expresses concern over the influx of imported goods through unfair trade practices and smuggling, impacting the competitiveness of local production.
Addressing the Sixth Volta Trade and Investment Fair in Ho, Dr Ayim-Darke emphasizes the need to combat the menace affecting the country’s industrial growth. He calls on the Volta Regional Minister and traditional authorities to join the fight against unfair trade practices.
Dr. Ayim-Darke highlights the AGI’s support for the recent Legislative Instrument (LI) introduced by the Trade Minister, believing that regulation can bring fairness and address market failures. While supporting the principle of the LI, he suggests that aspects of its implementation, including the role of the Trade Minister in accepting or denying applications for restricted products, need further deliberation.
The AGI President commends the National Export Strategy, expressing confidence that its implementation will enhance Ghana’s participation in the African Continental Free Trade Area (AfCFTA). He hopes that the Volta Trade and Investment Fair will attract local investment to support the private sector in leveraging opportunities within the AfCFTA.
The Fair’s theme, “Leveraging the African Continental Free Trade Area (AfCFTA) for Economic Development,” aligns with the broader goal of enhancing regional and continental economic cooperation.
Read also: TCCIA urges manufacturers to leverage AfCFTA for wealth creation
Volta Regional Minister Emphasizes Growth through Production and Exports
Dr. Archibald Yao Letsa, Volta Regional Minister, stresses the importance of making the region a producing and exporting one to achieve competitive industries. He emphasizes the need for a strong trade and industrial drive to drive local economic development and growth.
Dr. Letsa underscores the role of trade and investments in creating employment opportunities and making goods and services available at competitive prices. He encourages local exhibitors to focus on packaging and modelling to enhance the sale of made-in-Ghana goods, aligning with the government’s industrialization drive.
Namibian Deputy Minister Calls for African Innovation
Ms. Emma M. Theofulus, Deputy Minister of Information, Communication, and Technology from Namibia, emphasizes the need for Africa to move beyond expressions and take concrete actions for growth. She envisions Africa with its versions of innovative companies like Tesla, Alibaba, Airbnb, and Amazon.
Ms. Theofulus highlights the impact of artificial borders on trade limitations, hindering the direct export of products between countries. She calls for collaboration and the removal of barriers to enable the free movement of goods and people within the African continent.
The speakers ultimately advocate for a concerted effort to address challenges related to unfair trade practices, promote local production and exports, and foster innovation for sustainable economic growth.