Ghana's Trading Hub News

From the monthly archives: June 2017

We are pleased to present below all posts archived in 'June 2017'. If you still can't find what you are looking for, try using the search box.

GPHA is ready to implement Bawumia’s directives

The Ghana Ports and Harbours Authority (GPHA) says it is excited about Vice President Dr Mahamadu Bawumia’s directives for the implementation of joint inspections of goods at the country’s sea ports from September 1, this year.
Vice President Bawumia gave the directives which forms part of three policies to be implemented by the government as a measure to make Ghana’s ports very competitive in the sub region.The other two policies are: the removal of all customs road barriers and the directive for Ghana Community Network Services (GCNet) and West Blue to go 100 per cent paperless in their transactions at the Ports.

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Maritime trade rises to 17.13m tonnes

The volume of goods shipped through the country's two seaports increased by 7.97 per cent to 17.13 million tonnes in 2016, in spite of a 16.8 per cent decline in transit trade.The development was also in spite of a two per cent decline recorded in the fourth quarter of the year, which was the outcome of the 2016 general elections — the elections caused most traders to fast track or hold on to their cargoes until the elections were decided.

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Govt’s trade facilitation initiative lauded

The Association of Customs House Agents Ghana (ACHAG) has lauded the government for taking steps towards improving trade facilitation at the country’s ports.The Vice-President, Dr Mahamudu Bawumia, recently announced that Ghana was going 100 per cent paperless at the ports from September 1, 2017, a move aimed at bringing efficiency to the ports.

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GEPA urged to take decisive action on export sector challenges

Mr Carlos Ahenkorah, a Deputy Minister of Trade and Industry, has challenged the Ghana Export Promotion Authority (GEPA) to take decisive action to deal with current difficulties in the export sector to enhance growth.Speaking at a three-day retreat to strategise on effective service delivery for GEPA, Mr Ahenkorah said the many hindrances to exports in the country, including the multiplicity of inspection by various government bodies and a ban

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Ghana loses more than US$3billion annually from export proceeds - BOG

He noted that the Pre-Arrival Assessment Reporting System (PAARS), a system introduced by the Customs Division of the Ghana Revenue Authority (GRA) to process import documents, will help all commercial banks check anomalies in import and export.

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Ghana ahead of Nigeria in aviation hub race

Ghana appears to be leading in the race for the aviation hub in the West African region, despite Nigeria’s comparative advantage.Whereas both West African neighbours currently parade the “ease of doing business” initiatives of their governments, Ghana is making more progress with specific policies that are attracting more international airlines to Kotoka International Airport in Accra.Experts are unanimous on the comparative advantages Nigeria has over Ghana in terms of passenger traffic, local airlines and infrastructure, among others. They are, however, concerned that the dormant state of the Nigerian aviation sector

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WTC urges government to create jobs through diversification

CEO of the World Trade Centre Accra, Emmanuel Doni Kwame is urging a diversification of the country’s economy to ensure that jobs are created to cater for all the hands that will be rendered jobless when the country eventually goes paperless at the ports in September.Government has set aside the 1st of September 2017 for the country to go paperless as far transactions in the clearance chain are concerned.

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2017 WCO ITC concludes with expert insights on the Power of Data

After three days of invigorating discussions on the latest trends and the emerging developments in the world of border and IT supply chain management, the 2017 WTO IT Conference & Exhibition was concluded on 9 June. The announcement by Secretary General Mikuriya that the WCO has decided to make the source code of the WCO Customs Targeting System (CTS) publicly available and that it will be placed on an open source before the end of 2017 was very well received

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WTO urges public-private collaboration for effective implementation of TFA

The World Trade Organisation has reiterated the importance of the Trade Facilitation Agreement and has lauded member states that have so far ratified the agreement.
Deputy Director General of the World Trade Organisation, Dr. Fredrick Yonov Agah speaking during the national single window conference held in Ghana recently under the theme:Single Window and the WTO Trade Facilitation Agreement – Key Tools for Development opined that by ratifying the agreement, members were showing

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Finance Minister, GRA to meet Parliament over VAT law

The leadership of Parliament is expected to seek further clarifications from officials of the Ghana Revenue Authority(GRA) and the Finance Minister over the implementation of the Value Added Tax(Amendment)Act,2017, after they were cited for contempt.According to the Second Deputy Speaker of Parliament, Joe Osei Owusu, the leadership of the House will have to meet with officials of the Ghana Revenue Authority and the Finance Ministry to determine the implementation of VAT on financial services, and agree on how the 3% flat VAT rate will be implemented.

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