|
Ghana’s Economic Performance praised at WTO
Accra, Feb. 05, Ghanadot/GNA - The World
Trade Organisation (WTO) has commended Ghana for its
impressive economic performance over the past few years,
with high real GDP growth rates, decreasing inflation,
improved fiscal situation, and substantial progress in
poverty reduction.
The commendation came up at the just ended Third Trade
Policy Review of Ghana by the World Trade Organisation,
which took place in Geneva, Switzerland, from Monday,
January 29 to Wednesday, January 31, 2008.
A statement sent to the Ghana News Agency by Mr Daniel
Okaiteye-Blessyn, Head of Chancery, Ghana Embassy, Berne,
Switzerland on Monday said; “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.
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.
Mr. 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, which was led by Mr. Kwaku
Agyemang-Manu, MP, Deputy Minister of Trade, Industry,
Private Sector Development and President’s Special
Initiatives included Mr. Kwabena Baah-Duodu, Ghana’s
Ambassador to Switzerland and Permanent Representative to
the United Nations and other International Organisations in
Geneva.
The statement said other members of the delegation were
officials of the Ghana Permanent Mission in Geneva, the
Ministry of Trade, Industry, Private Sector Development and
President’s Special Initiatives, the Registrar General’s
Department and Customs and Excise and Preventive Service.
Ghana’s policy objective of increasing its regional and
global integration, strengthening and diversifying its
export base was also well appreciated.
It said the WTO encouraged Ghana to pursue its reforms,
including its trade regime, and to improve its multilateral
commitments on goods and services, to enhance the
transparency and predictability of the regime, and adherence
to WTO principles.
The statement said the 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.
Mr. 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,
including assisting the country to overcome the supply-side
constraints, which had prevented her from taking full
advantage of the market access openings offered by the
multilateral trading system and from other preferential
regimes.
On the Doha Development Agenda (DDA), the Deputy Minister
urged members to redouble their efforts to ensure that the
negotiations were successfully concluded.
The discussant for the review was Professor Arsene Balihuta,
Ambassador and Permanent Representative of Uganda to the UN
and other International Organisations in Geneva.
GNA
|
