Mr. Maxwell Apenkro, Deputy Chief Commercial Officer of the Ghana International Trade Commission (GITC), has highlighted the importance of substantiating trade petitions with comprehensive data at both firm and industry levels.
Speaking at a forum organized by the Ghana Investment Promotion Centre (GIPC), Apenkro highlighted that robust data is crucial for the Commission to process petitions effectively and make well-informed recommendations.
Apenkro’s remarks come at a time when the need for evidence-based decision-making is increasingly recognized in trade regulation. He emphasized that while trade-level data is accessible through customs and other institutions, the real challenge lies in obtaining detailed firm-level data directly from companies.
This data is essential for the GITC to understand the production levels and specific conditions within individual firms, which are critical for accurately assessing claims of unfair trade practices. Without such data, the Commission’s ability to verify and validate petitions is significantly constrained.
The forum, themed “Promoting Fair Market Practices that Stimulate Economic Growth,” was designed to foster a deeper understanding of fair market practices and highlight the negative impacts of substandard goods on the economy.
It also served as a platform for government institutions to engage with the investor community on policies and procedures, providing an opportunity for stakeholders to share their experiences and challenges. This feedback is invaluable for guiding future policies and legislation aimed at creating a more conducive business environment.
In his address, Apenkro detailed the rigorous process involved in filing a trade petition. This includes pre-filing assistance, a verification process, the initiation of a formal investigation, and the production of a staff report, among other steps.
Each stage is meticulously designed to ensure that the petitions are thoroughly examined and that the recommendations made are based on solid evidence. This structured approach underscores the importance of data at every step, from the initial submission to the final determination and presentation of recommendations to the Ministry of Trade and Industry.
Collaboration and Legislative Reforms
Mr. Yaw Afriyie, Deputy Chief Executive Officer of GIPC, also spoke at the forum, highlighting ongoing efforts to introduce reforms to the current investment legislation. These reforms aim to eliminate barriers to business and promote investment by incorporating input from core stakeholder groups.
Afriyie emphasized that collaboration and building linkages among stakeholders are crucial for streamlining business processes and collectively enhancing the nation’s prosperity. He pointed out that progress in streamlining customs procedures, in particular, is vital for the investor community. Ensuring that customs valuations and classifications are properly made, and compliant with government regulations, is essential for maintaining a fair and efficient trade environment.
The forum saw participation from several key public institutions, including the Customs Division of the Ghana Revenue Authority, the Ghana Shippers Authority, the Food and Drugs Authority, and the Ghana Standards Authority.
These institutions play a critical role in ensuring that trade practices are fair and that standards are upheld across various sectors. Their involvement in the forum highlights the collaborative effort needed to address the challenges faced by the business community and promote economic growth.
Apenkro’s call for data-backed trade petitions stresses the critical need for detailed evidence in addressing unfair trade practices. By providing firm and industry-level data, companies can significantly enhance the GITC’s ability to make informed decisions and recommendations.
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