WTO lauds Ghana's economic performance

In addition to the high GDP rates, the WTO noted Ghana's improved fiscal situation and substantial progress in poverty reduction.

The commendation came up at the recently concluded Third Trade Policy Review of Ghana by the WTO in Geneva, Switzerland.

"WTO members noted that the strong growth of Ghana's economy had been supported by trade liberalisation, through, inter-alia, reduction of tariff rates and the number of bands, as well as the streamlining of customs procedures,” said Daniel Okaiteye-Blessyn, Head of Chancery at Ghana's embassy in Berne, Switzerland.

The country's commitment to the WTO, including the Doha Development Agenda (DDA) negotiations, was welcomed, but Ghana was encouraged to increase its notifications under various WTO Agreements.

Vesa Himanen of Finland, Chairman of the meeting, observed that WTO members could assist Ghana by keeping their markets open for products and services of interest to Ghana, and by providing technical assistance.

Ghana's seven-member delegation was led by Kwaku Agyemang-Manu, MP who is the west African state's Deputy Minister of Trade, Industry, Private Sector Development and the President's Special Initiatives.

Kwabena Baah-Duodu, Ghana's Ambassador to Switzerland and Permanent Representative to the United Nations and other International Organisations in Geneva was also part of the delegation.

Ghana's policy objective of increasing its regional and global integration, strengthening and diversifying its export base was also well appreciated.

WTO encouraged Ghana to pursue its reforms, including its trade regime.

The country was encouraged to improve its multilateral commitments on goods and services, to enhance the transparency and predictability of the regime, and adherence to WTO principles.

Kwaku-Manu had earlier briefed the meeting on economic developments in Ghana and highlighted the new trade policy of Ghana, which was being implemented under a five-year Trade Sector Support Programme.

He called for assistance from the WTO and Ghana's development partners to assist her in various areas, to overcome the supply-side constraints.

Kwaku-Manu described these as having prevented Ghana from taking full advantage of the market access openings offered by the multilateral trading system and from other preferential regimes.

On the DDA, the Deputy Minister urged members to redouble their efforts to ensure that the negotiations were successfully concluded.

Article published courtesy of BuaNews