Ghana has prohibited some items from entry into its domain, following Nigeria’s
footsteps that restricted 41 items from access to foreign exchange.
Ghana
however has placed a ban on some goods from being imported into the country.
Ghanaian Minister of Trade and Industry, Mr. Ekwow Spio-Garbrah stated
yesterday that Ghana and Nigeria are said to account for some 68 per cent of
the ECOWAS region’s Gross Domestic Product.
Nigeria
accounts for almost 10 per cent of Ghana’s foreign trade volume, whereas Ghana
is listed as the 9th largest trade partner to Nigeria.
Favorite
investment hub In spite of the difficulties, Ghana remains Nigeria’s largest
trade partner and favorite investment hub in the West Africa sub-region, as
Ghana imports the largest share of all Nigerian oil exports in the West African
sub-region.
While ‘bagged cement’ is on Nigeria’s prohibition list, Dangote
Cement brings in and bags some 750,000 tonnes of cement a year for the Ghanaian
market, and is expected to increase this to 1.5 million tonnes by end of this
quarter.
The Chief
Executive Officer of Ghanaian Association of Ghana Industries stated that there
should be a clear letter written to the Nigerians complaining about this, and
then also try and use some diplomatic means to quickly resolve it,” “If it does
not work then we must also look at countervailing measures…it could be product
targeting,” he said.
“If we also make it difficult for them to
export, then we would have to find common ground,” Kate Quartey-Papafio, CEO of
Reroy Cables argued.
Even for
those who are able to export to Nigeria, you have to get different certificates
for different customers and it takes a whole lot of time to get it. It makes
the whole thing so cumbersome.
You are
exporting the same thing but you have to go and get certificates for each of
the customers,” she said.
Nigeria
has used an “Import Prohibition List” to refuse certain goods entry into that
country, including a host of pharmaceutical products.
Also, the Managing
Director of Intravenous Infusions Limited, a pharmaceutical company, Mr Richard
Okrah noted that his company could have generated an additional 25% of export
turnover from the Nigerian market.
The company, he said, currently produces close to 6million IV fluids of various sizes per year, and that: “We have the capacity to step this up to 15 million because we are installing a new semi-automated plan that should be up and running by the middle of April this year”.
He said his company faces no such restrictions from Burkina Faso, Cote D’Ivoire and other countries where it exports to.
No comments:
Post a Comment