The Delay Of “Epa” Implementation Has A Negative Impact To The West African Economy; Is A Misleading Opinion From The Ghana Trade Minister

Report received on the 14^th January 2016 on our desk indicate that the Minister of Trade & Industry of Ghana Dr. Ekow Spio- Garbrah made a public press release that two Ecowas member countries are reluctant in signing the EPA agreement, therefore delaying the implementation processes and succinctly concluded that it will have negative impact on the West African economy.

The axiom upon which the whole agreement of the EPA depends on upon, is as follows

• The signing of the agreement will call for the removal of trade tariffs on a number of import goods reaching the shores of Ghana and any Ecowas member countries who has signed such an agreement from the European Union in 20years with 5 years moratorium for it implementation

• The EU is to offer duty-free access to the European Union Market as well as a 6.5 billion Euro Development.

A critical studies to the Press Release document from the Minister signify the desperateness of it outfit in expectation of the anticipated money for expenses but not the medium and long term economic impact and damage to the Ecowas region.

The following are the objective and the purpose of conducting this Press Release in support of the Trade Industry of Ghana and the Ecowas Region; to request the Minister to respond to the following questions and furthermore remind him the impending damage of the EPA on the Ecowas region to avoid rushing the other two African state in pending their signatories into such ferocious trade deal.

1.Since the new EPA came into existence from 2012 up to date; could he explicitly and confidently quote the statistics of trade performance of Ghana in export favour of both traditional and non-traditional goods. Furthermore provide figures on positive performance of trade export in the Ecowas region, since we seek not to dent his credibility with our statistical reference.

2.Is the European Market going to compromise on European Importation criteria’s and quality standards in favour of the EPA agreement?

3. If such sum of money is received by his Ministry, let forget about the expenditure cum management of the fund of the other West African state who are binded by the deal and let strictly focus on Ghana; which he is appointed as the Minister of Trade & Industry, could he present to the Trade Industry of Ghana his expenditure plan in favour of the industry to address the two raised above questions, since such funds was meant to respond to such economic shocks.

It is our sincere desire; that if the welfare and the progress of Trade Industry in Ghana is his main priority which it supposed to be the bedrock of the existence of that Ministry, the questions raised will be responded with pride and honour.

Thank you.

Tweneboah Senzu,PhD.

Executive Director

Bastiat Ghana Institute

(Liberal Economic Think Tank for Trade & Industry Performance In Africa)

www.bastiatghana.org