Ghana's Trading Hub News

Businesses calls for implementation of trade agreements

 A coalition of business associations has renewed calls for the ratification and implementation of the Trade Facilitation Agreement (TFA) to expedite trade and clearance of goods at the country’s ports.

The TFA, which is expected to be forwarded to Cabinet for onward submission to Parliament for ratification and implementation, is currently locked up at the Ministry of Trade and Industry.

The TFA, which has been dragging on in the corridors of power since 2013, sets out measures for effective cooperation between customs and other appropriate authorities on trade facilitation and customs compliance issues.

The immediate past President of the Ghana Freight Forwarders, Mr Joseph Agbaga, said the ratifications of the agreement would enhance trade and expedite the clearance of goods at the country’s ports.

The coalition, which includes the World Trade Centre, Accra, Association of Ghana Industries (AGI), Ghana Employers Association (GEA), Ghana Institute of Freight Forwarders, Ghana Shippers Authority, Federation of Association of Ghanaian Exporters, Ghana Union of Traders Association and the Ghana National Cargo Transporters Association, maintained that when the TFA was ratified and implemented, it could raise the country’s export revenue.

The TFA, which is one of the main outcomes of the World Trade Organisation’s 9th Ministerial Conference in Bali, Indonesia, in December 2013, aims at reducing the time and cost of international trade.

Until recently, goods used to delay at the country’s ports and borders for days and even weeks before they were cleared.

Positive signs

There are, however, positive signs following the successful implementation of the Pre-Arrival Assessment Reporting System (PAARS), a component of the Ghana National Single Window (GNSW) project being implemented by West Blue Consulting on behalf of the customs division of the Ghana Revenue Authority (GRA).

Since the introduction of the GNSW’s PAARS last year, traders are able to access Customs Classification and Valuation Report (CCVR) within 48 hours; in some cases within an hour that is substantial improvement from the previous situation whereby it used to take traders more than a week or two weeks just to get their CCVR, according to senior officials of the Customs Division of GRA.

The TFA will enter into force once two-thirds of WTO’s 162 members have completed their domestic ratification process. As of March 2016, out of the 80 WTO Members that had ratified, only seven of them, excluding Ghana, were from Africa out of a total of 40 African WTO Members.

Essentially, the World Trade Organisation (WTO) is a place where member governments try to sort out the trade problems they face with one another.

Justification for ratification

Throwing more light on the TFA, the Secretary-General of the International Chamber of Commerce (ICC Ghana), Mr Emmanuel Doni-Kwame, explained the need for the ratification and implementation of the trade facilitation agreement.

He said: “The issues that culminated in the drafting of the agreement have to do with issues that confront us on a daily basis and we have observed that at most ICC meetings. These issues are prevalent in developing countries, especially ours.”

“And these have to do with the uncertainties that we all encounter when we are moving goods across borders-the delays and these also affect our predictability and then they add on to transaction cost at our ports or transit ports.”

“So, TFA is for everybody, not just importers or exporters. It is for every single business entity,” Mr Doni-Kwame stated.

Ghana’s peers

Currently, Ghana’s peers at the sub-region, Cote d’Ivoire, Nigeria, and Senegal, have already ratified among others. For the ratification where two-thirds of members are needed to do that, but for Category A provision, over 70 least developing and developing countries have submitted their Category A activities, according to the experts.

Source:http://www.graphic.com.gh/business/business-news/businesses-renew-calls-for-implementation-of-trade-agreements.html

Comments

Got something to say? Join the discussion »
  1. plexus slim reviews's avatar plexus slim reviews said on 5/21/2018 5:57 AM: Reply  
    I wanted to thank you for this excellent read!! I definitely loved every little bit of it. I have you bookmarked your site to check out the new stuff you post. plexus slim reviews
  2. Ph.375 Fat Burner's avatar Ph.375 Fat Burner said on 5/31/2018 9:14 AM: Reply  
    I appreciate everything you have added to my knowledge base.Admiring the time and effort you put into your blog and detailed information you offer.Thanks. Ph.375 Fat Burner
  3. morning's avatar morning said on 6/3/2018 6:32 AM: Reply  
    You make so many great points here that I read your article a couple of times. Your views are in accordance with my own for the most part. This is great content for your readers. Anavar Cycle
  4. SHARIQ's avatar SHARIQ said on 6/4/2018 7:46 AM: Reply  
    This particular papers fabulous, and My spouse and i enjoy each of the perform that you have placed into this. I’m sure that you will be making a really useful place. I has been additionally pleased. Good perform! Ph.375 Fat Burner
  5. Dorian Yates Steroids's avatar Dorian Yates Steroids said on 6/4/2018 10:21 AM: Reply  
    If you are looking for more information about flat rate locksmith Las Vegas check that right away. Dorian Yates Steroids
  6. Benjamin Davis's avatar Benjamin Davis said on 6/4/2018 11:15 AM: Reply  
    That is really nice to hear. thank you for the update and good luck. information to read
  7. morning's avatar morning said on 6/7/2018 7:58 AM: Reply  
    It is a great website.. The Design looks very good.. Keep working like that!. russiandatingmall.com
  8. morning's avatar morning said on 6/9/2018 6:40 AM: Reply  
    I think that thanks for the valuabe information and insights you have so provided here. Outdoor Rugs
  9. morning's avatar morning said on 6/9/2018 7:55 AM: Reply  
    I’m going to read this. I’ll be sure to come back. thanks for sharing. and also This article gives the light in which we can observe the reality. this is very nice one and gives indepth information. thanks for this nice article... deer hunting tips
  10. morning's avatar morning said on 6/11/2018 7:15 AM: Reply  
    Thanks for sharing the post.. parents are worlds best person in each lives of individual..they need or must succeed to sustain needs of the family. above ground swimming pools
  11. master's avatar master said on 6/13/2018 8:28 AM: Reply  
    Great survey, I'm sure you're getting a great response. Sportingbet apostar online
  12. Anna's avatar Anna said on 6/13/2018 11:47 AM: Reply  
    Hey what a brilliant post I have come across and believe me I have been searching out for this similar kind of post for past a week and hardly came across this. Thank you very much and will look for more postings from you. Plastic Surgery Dubai
  13. morning's avatar morning said on 6/15/2018 7:15 AM: Reply  
    Great survey, I'm sure you're getting a great response. boy nub
  14. morning's avatar morning said on 6/18/2018 8:50 AM: Reply  
    I found that site very usefull and this survey is very cirious, I ' ve never seen a blog that demand a survey for this actions, very curious... voyance par telephone gratuit

leave a reply

 [Quick Submit with Ctrl+Enter]

Remember my details
Notify me of followup comments via e-mail

News Subscription

Get the latest updates in your email box automatically.

Search

Archive

Meta

s