Alan Kyerematen – Minister of Trade
The Ghana International Trade Commission (GITC) has expressed worry over dumping of goods and services in Ghana under African Continental Free Trade Area (AfCFTA).
According to GITC, the increased liberalized trade regime that AfCFTA offers will undoubtedly lead to a massive boost in the volume of goods and services which will undoubtedly come with a higher incidence of unfair trade practices such as dumping and subsidization.
Executive Secretary of GITC, Frank Agyekum, made this known in an address at the maiden National Conference held in Accra on the operationalization of AfCFTA.
Mr. Agyekum added that the AfCFTA if not harnessed properly, could undermine the survival of some domestic import-competing industries in Ghana and elsewhere in the wider trading area.
He stated that as Ghana developed into full liberalization of its economy under AfCFTA, it would be the concern of GITC that the potential gains in trade and commerce were not diminished by unfair trade practices such as dumping and subsidization which tends to crowd out and collapse local industries and create unemployment with all its attendant negative impact on the economy.
He noted that the AfCFTA Agreement has not set up a special regional institution to receive complaints, conduct investigations and impose trade remedies with regard to unfair trade practices.
On the contrary, according to him, it specifically authorizes States to initiate actions with regard to the trade remedies as rendered per AFCFTA Protocol on Trade in Goods, Part V.
BY Melvin Tarlue