Trade Consultant, Richard Ampaabeng, has lamented the resignation of the minister of trade and industry, Alan Kyerematen.
According to him, his resignation will have a huge toll on the trading community in the country. He revealed that the resignation of Mr Kyerematen comes at a time that the trading community is recovering from the economic hardship, hence his worry over the matter.
“The impact will be heavy because why is he resigning? We don’t know the reason behind [or] assigned to his resignation and the markets is very sensitive to this thing and the markets will react to his resignation. But assuming it had gone diplomatically, and some reason assigned to his resignation, then nerves will be calm in the markets. As it is now that we are all holding this speculation about his resignation and indeed if it is true, then it should be actualized almost immediately.”
Richard Ampaabeng
Mr Ampaabeng explained that although he will not be too surprised if Mr Kyerematen has resigned, his only concern is that given the duties assigned to him as minister for trade, his resignation should have been a bit more “diplomatic”. Owing to this, he emphasized that Honorable Kojo Alan Kyerematen’s resignation “is not the best at this time”.
“As minister of trade, you are in charge of all trade in goods, all trade in services, intellectual properties and all standards and investments in the country. So, if you are going, my question is, have we sounded those who trade in goods, services, investments in the country? All these areas are very sensitive and it is to the market.”
Richard Ampaabeng
Impact of Alan Kyerematen as Trades minister
Mr Ampaabeng highlighted that already, as a nation, the country is having issues with its market space, especially the capital markets, goods market and services market.
That notwithstanding, he stated that the markets have started “easing out in our favor, despite the rumor of minister of trade resigning”, which he reckons is not the best.
Commenting on the vital role that Mr Kyerematen has played particularly with the 1D1F projects among others, Mr Ampaabeng stated that the former trades minister has left some big shoes to fill. With this, he established the relevance of the ministry of trade and industry in the country.
The trades consultant indicated that the finance ministry cannot do anything without the active participation of ministry of trade.
“So, if the minister of trade is moving around this time, then one will ask what is happening and the answer can affect the market. That is all I’m saying… The minister of trade is the working leg and hand of the ministry of finance. If we don’t have a good minister of trade, who will convert these fine policies into workings?”
Richard Ampaabeng
The Trade consultant expressed the need for government to settle on a capable minister of trade because he must ensure exports are undertaken, imports are balanced and goods and services are at the helm of affairs of the nation.
It will be recalled that the minister of Trade and Industry, Alan John Kwadwo Kyerematen resigned from his position and tendered his resignation letter to President Nana Addo Dankwa Akufo-Addo on Thursday, January 5, 2023.
Although it is unclear why the Minister resigned from the Akufo-Addo government, after serving in the portfolio since 2017, it is believed that he took the decision to enable him properly focus on his presidential ambition.
Popularly referred to as “Alan Cash”, Mr. Kyerematen made other attempts in 2010 and 2014 but was unsuccessful. He has been championing the government’s One District One Factory initiative since 2018, birthing about 170 factories across the country.
Under Mr. Kyerematen’s leadership at the Trade Ministry, the country also witnessed the production of local vehicles by auto giants such as Suzuki, VW, Nissan, Sino Trucks among others under the Automotive Development Policy.
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