The Association of Ghana Industries (AGI) has expressed its eagerness for the potential reinstatement of the import and export restrictions bill in Parliament. Initially presented by the Ministry of Trade, the bill aimed to regulate the importation of 22 items, including essential commodities such as poultry, rice, and sugar.
However, the bill faced suspension as a result of resistance from the Minority and various stakeholders. Seth Twum Akwaboah, the Executive Secretary of AGI, highlighted the significance of the bill in safeguarding emerging Ghanaian businesses, emphasizing the expectation of its return and subsequent passage.
Akwaboah affirmed AGI’s unwavering support for the policy, citing its potential to bolster local industry development without violating World Trade Organisation rules. He clarified that the proposed measures were not tantamount to a complete ban but rather strategic restrictions designed to manage the importation landscape.
“In essence, it’s about managing the situation. It was suspended temporarily, and while I cannot determine when it will be reintroduced, we are actively following up, hopeful that it will resume its course,” stated Seth Twum Akwaboah during an interview with Citi News.
Contrastingly, the Joint Business Consultative Forum of Ghana, on December 14, 2023, expressed delight in the suspension of the Legislative Instrument (LI) aimed at restricting the importation of specific products into the country. The forum extended gratitude to the Speaker of Parliament and the Minority for their steadfastness in representing the interests of the trading community.
The government, responding to substantial opposition, announced on December 7, 2023, the suspension of the Export and Import Regulations 2023 Bill, thwarting its scheduled implementation. The LI sought to regulate the importation of 22 strategic goods, encompassing items such as rice, poultry, animal and vegetable oil, ceramic tiles, mosquito coil and insecticides, motor cars, iron and steel, and various other commodities.
While the fate of the bill remains uncertain, stakeholders continue to closely monitor developments, anticipating whether the proposed restrictions will re-emerge as a part of Ghana’s trade policy landscape.
