The Association of Ghana Industries (AGI) has charged the newly sworn-in Minister of Trade and Industry, Dr. Ekow Spio-Garbrah, to as a matter of urgency, resolve the numerous challenges facing industry.
Top on the list is the controversial issue of “dumping” on the Ghanaian market.
The Chief Executive Officer of the Association Seth Twum-Akwaboah said the major constraints facing industry include the unfair competition from cheap imports, lack of access to finance and the unreliable power supply.
[contextly_sidebar id=”dbEl3nA8bxpy2klmrAwLBpPEHka5Wbny”]The textiles, printing, and now the aluminium industries are already threatened and in danger of folding up, and laying its workers off.
Some of the world’s major economic powers have imposed varying degrees of countervailing measures to combat the dumping, especially aluminium products by China into their countries.
The US has imposed additional tariffs of +59.31%; Canada has imposed additional tariffs of +179% of shipment value; India has imposed +12-14%; and Australia +16% (see the WTO website).
Seth Twum-Akwaboah insisted that Ghana cannot develop on the back of imports, adding that the challenges called for a structured regular intervention.
He also told Citi Business News that the new minister should be working on how to expand the Export Development and Agricultural Investment Fund to include equity and loans to support the manufacturing sector.
“As always AGI has been working with every Minister so we can remove obstacles in the development of industry in Ghana so it will foster our development. we have large volumes of imports coming into the country to compete in selling in the local industry and that has had a huge toll on the local industry killing the local industry.”
Dr. Ekow Spio-Garbrah during his swearing-in ceremony, assured President John Mahama that he will put in “his optimum best” to ensure the realization of the nation’s goals.
The AGI has assured that it will work with government and its business leaders to provide the necessary remedy for the economic development of the country.
By: Norvan Acquah-Hayford/citifmonline.com/Ghana