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Business community happy with interim EPA – Trade
Minister
Accra, Feb. 22, Ghanadot/GNA – Ghana’s
signing of the interim Economic Partnership Agreement (EPA),
has put to rest the feeling of anxiety that prevailed within
the local business circles, Mr Joe Baidoo-Ansah, Minister of
Trade, Industry and President’s Special Initiatives observed
on Friday.
He said the interim arrangement under the EPA with the
European Union (EU) avoided trade disruptions that would
have occurred after the expiration on December 31, 2007 of
Ghana’s preferential trade regime under the Cotonou
Agreement.
So far Ghana and Cote d’Ivoire are the only two ECOWAS
countries that have signed the interim arrangement, which
would allow their exports to enter the EU markets duty and
quota free, while awaiting other countries in the region to
conclude full negotiations of an EPA with the Union.
Reacting to whether the anxiety of the business community on
the EPA had been put to rest, Mr Cletus Kosiba, Executive
Director of the Association of Ghana Industry told the GNA
that perhaps the “praise song” was being sang by the
exporters and not the entire business circles.
He said a lot still needed to be done within the agreement
by way of tariffs determination on certain sensitive
commodities in order to protect and encourage the local
producers.
The Trade Minister made the remarks when he opened the 12th
Ghana International Trade Fair at the Ghana Trade Fair
Centre at La in Accra, which is attracting about 1,100
exhibitors under the theme: “Promoting Trade and
Investment.”
Mr Baidoo-Ansah said the large participation in this year’s
fair, especially the increase in the number of foreign
companies gave credence to the fact that Ghana was opened
for more businesses.
He urged Small and Medium Scale enterprises (SMEs)
participating in the fair to take advantage and build the
necessary networks and partnerships that would enable them
to promote and expand their businesses.
“It is also important to bear in mind that fairs like this
nature provide unique opportunities to forge strategic
alliances necessary for accessing modern technology,” Mr
Baidoo-Ansah told the participants.
He said it was also important for local participants to use
the fair to pay particular attention to issues relating to
quality standards and packaging because it was what would
enable them stay competitive in the global market place.
Mr Baidoo-Ansah referred to the upcoming 5th ECOWAS Trade
Fair in Ouagadougou, Burkina Faso from March 7 to 15, 2008
and urged local exhibitors to take advantage to participate.
Mrs Esther Ofori, Chief Executive of the Ghana Trade Fair
Company said the objective of the fair was not only to
promote made-in Ghana goods but also to provide the platform
to local producers and businesses to establish ties and
expand their businesses.
She said the Company was poised to transform the Ghana Trade
Fair Centre into a multi-international, world-class trade
centre to attract many more giant foreign companies into the
country.
GNA
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