Ghana is a member of the world trade organization wto and the economic community of west african states ecowas. The ghana industrial policy gip was developed to provide clear and transparent guidelines for. An assessment of the effects of ghanas trade policy on agroprocessing smes in the eastern region. Learn more about the ghana economy, including the population of ghana, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of economic freedom. Export growth and trade policy in ghana in the twentieth century. Well acclaimed for its years of political stability, ghana is a prized recipient for foreign direct investment in the region. Trade agreements international trade administration. Why most indigenous businesses are unable to survive beyond the second generation. This chapter chronicles the evolution of industry in ghana over the postindependence era from an inward overprotected isi strategy of 196083 to an outward liberalized strategy during 19842000, and since 2001, to the private sectorled accelerated industrial development strategy based on valueaddition. Ghana is one of the countries that have implemented trade policy reforms to openup their economies.
In order to enhance ghana eu trade relations, ghana is expected within. Any technical questions arising from this report may be addressed to jacques degbelo tel 022 739 5583 and catherine hennispierre tel 022 739. Diana acconcia, the minister of trade and industry moti, hon. Policy research working paper 6750 economic growth in ghana determinants and prospect anna k. Gsgda ii policy objectives the ghana shared growth development agenda ii gsgda ii contains six 6 policy objectives that are relevant to the ministry of trade and industry. Pdf an assessment of the effects of ghanas trade policy. Ghana shared growth and development agenda 201020, trade policy, industrial policy which has identified the. Ghana undertook reforms to correct the critical distortions that contributed to the stagnation and decline of the economy in the 1970s and early 1980s. Ghana trade policy this policy is set within the context of ghana s long term strategic vision of achieving middle income status by 2012 and becoming a leading agroindustrial country in africa. However, the use of trade policy in this context has met with varied success in the face of strong global trade liberalization agendas.
Despite this relatively open market, some tariff and nontariff barriers remain and pose challenges to the importation of a number of agricultural products. Ghana industrial policy ministry of trade and industry. Significant developments that may have an impact on the global trading system are also monitored. The trade sector support programme tssp is the implementation plan for the ghana. The exercise was carried out in six sequential phases, similar to the trade policy development process. International trade in ghana after a decade of good economic performance, marked by strong and sustained growth 6% of growth on average since 2004, ghana was affected by the global recession. European union signs 4 projects for a total of 4 million euros to support ghanas competitiveness and the implementation of the economic partnership agreement four projects were signed in accra on 19th february 2020 between the european union eu represented by the ambassador mrs. Introduction about 40 percent of imports officially cleared through customs in ghana are exempted from import. Ghana is the 70th largest export economy in the world and the 111th most complex economy according to the economic complexity index eci. The case of cocoa in ghana background paper to the unctadfao commodities and development report 2017 commodity markets, economic growth and development.
The policy provides clear and transparent guidelines for the implementation of governments domestic and international trade agenda. Both gdp and exports grew and it was argued, on the basis of household. The political economy of international trade helen v. Pdf the main aim of this study is to provide an overview of the structure and performance of ghanas imports. November 8, 1999 1 these and other import and tax collection numbers are based on a preliminary analysis of asycuda data for 1998 provided by the ministry of trade and industry. Ghana national trade policy and economic partnership agreements by nancy kachingwe political economy unit twnafrica 1 economic partnership agreements or free trade areas are currently being negotiated between the european union and the different subregions of. The nes is situated within the context of the mediumterm development policy framework. Ghana has seen her fair share relations with china which begun in 1960 under the leadership of the first president of the republic of ghana. The trade sector support programme tssp is designed to systematically implement the ghana trade policy and deliver rapid and strategic expansion of ghanas productive base. Gold is the predominant mineral produced in the country accounting for over 90% of all mineral revenues annually over the past two decades. This is to enable west africa to take full advantage of market access opportunities offered by the eu and to integrate into the global economy.
This study attempted to examine the awareness levels of ghana trade policy. The ghana international trade commission gitc the ghana international trade commission was established by an act of parliament in september 2016 to regulate ghanas international trade architecture in conformity with the rules and regulations of the world trade organization wto and other international trading systems and rules. Ghana has benefited from nonreciprocal market access to the european union eu since 1975 and the majority of ghanas exports enter that market duty and quota free. China is currently the second largest exporter to ghana. Ghanas trade policy has addressed some of the constraints of the manufacturing sector, but the measures do not suffice to attain rapid and sustained growth in the manufacturing sector. Trade policy and trade facilitation advancing economic integration one hurdle at a time. Ghana trade and trade related issues tralac trade law. The foreign relations of ghana are controlled by the ministry of foreign affairs of ghana. Ghana has benefited from nonreciprocal market access to the european union eu since 1975 and the majority of ghana s exports enter that market duty and quota free. This policy note examines these challenges can be overcome, as well as for how ghanas oil wealth can be used for the maximum long term advantage of its people. Specifically, this is the first study to use repeated crosssection data rcs from the ghana living standards survey glss against the background of trade reforms of the 1990s to gauge the poverty impact of trade liberalization in ghana. Trade economic community of west african statesecowas. National trade policy, which was launched in february 2005 by his. The challenges and opportunities of ghanas africa trade.
Ghana is active in the united nations and many of its specialised agencies, the world trade organization, the nonaligned movement, the organisation of african unity oau, the african union au and the economic community of west african states. Regulating ghanas international trade role of the gitc. Ghana operates in a relatively free market environment. Dietrelated noncommunicable diseases represent a major global public health challenge, and require a multisectoral policy response. First, the key thematic areas of the policy were defined in outline. Hence, the eu has become ghanas largest trading partner. Ghana trade policy the ghana trade policy was set in the context of ghanas long term vision of achieving middle income status by 2015 for inclusive accelerated sustainable economic growth and development the policy provides clear and transparent guidelines for the implementation of domestic and international trade agenda. For agricultural goods, the average applied tariff is 17.
Raggl the world bank africa region poverty reduction and economic management department. The reported population in 2012 was around 25 million the same as mozambique and a bit more. Oec ghana gha exports, imports, and trade partners. The tssp details out the specific activities to be undertaken annually for the achievement of the policy prescriptions contained in the ghana trade policy. E v acknowledgements the international trade centre itc and the association of ghana industries agi express their deepest gratitude to the enterprises that agreed to be interviewed on the issue of competitiveness. Hence, the eu has become ghana s largest trading partner. Ghana is a low middle income country situated in west africa, bordering the gulf of guinea between cote divoire and togo. Ghana national trade policy and economic partnership. Industry in ghana is mainly dominated by micro and small firms, privately owned and. The ecowas trade policy is also meant to foster the smooth integration of the region into the world economy with due regard for the political choices and development priorities of states in the desire to engender sustainable development and reduction of poverty. Sme competitiveness in ghana international trade centre. The world bank reports that ghana is a medium sized country in west africa, with a land area of around the same size as the united kingdom or uganda.
This page provides ghana balance of trade actual values, historical data, forecast, chart, statistics, economic. Ghana trade policy this policy is set within the context of ghanas long term strategic vision of achieving middle income status by 2012 and becoming a leading agroindustrial country in africa. Trade and investment liberalization has been an integral part of ghanas economic reform program. Beginning from 1984, when ghana began to open up its economy to participate in international trade as part of the economic recovery programme erp, the trade intensity index defined as the ratio of exports plus imports to gross domestic.
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