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Business & Finance | Jun 2, 2004

New Trade policy to be out in August

GNA

Accra, June 2, GNA - The proposed National Trade Policy would be out in August this year, Mr. Alan Kyeremanten, Trade, Industry and President's Special Initiative Minister, said on Wednesday. He said the policy would ensure that trade policies in Ghana were consistent with other trade policy instruments, including those outside the purview of the Ministry of Trade, Industry and President's Special Initiative.

Speaking at a two-day workshop on the upcoming 11th Session of United Nation Conference on Trade and Development (UNCTAD) in Sao Paulo, Brazil, the Minister said Ghana 's policy would provide the private sector a firm policy direction statement on trade which would improve "certainty" in the trade environment.

Mr Kyeremanten said the trade policy would be built on the pillars of technology, finance and infrastructural development for local and foreign entrepreneurs to thrive.

He said with the successful implementation of the government's "Industrial Reform and Accelerated Growth Programme" government expects to build a competitive export supply capacity and accelerating partners to reward all efforts.

Two parallel strategies, an export led-Industrialization drive to focus primarily on agro-processing and other manufacturing activities and Import-Competing Industrialization Programme targeted at producing locally, a substantial proportion of non petroleum imports underpinned the programme, he said.

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