The Traders Advocacy Group Ghana (TAGG) has recently issued a statement regarding the state of trade facilitation in the country. According to TAGG, policymakers in Ghana are not doing enough to put in place appropriate policies to assist trade facilitation, and as a result, firms are experiencing difficulties.
As far as the commodity market is concerned, TAGG notes that importation is necessary because some goods cannot be produced in Ghana. This is a well-known fact, with imports accounting for over 60% of the nation’s needs for goods, which is critical for Ghana’s industry. However, the group has raised questions about imports and trade facilitation in the country with relation to everyday transactions like buying and selling, which are causing concern among traders.
TAGG has urged Ghanaian traders to be cautious of groups that issue orders without taking into account the traders’ perspective on the facts. The group has also noted that retailers do not need to reduce their prices and run the danger of capital loss because the inflation rate is declining. The drop in pricing is influenced by various factors, not just one.
While the group acknowledges that the drop in inflation is positive news, they are calling on the government to do more to decrease the cost of doing business in the country. According to TAGG, the expense of doing business has escalated to astronomical proportions, which is preventing traders from traveling or importing goods due to capital losses.
The statement by TAGG underscores the importance of trade facilitation in Ghana and the challenges that traders face in conducting business. The group is advocating for policymakers to put in place appropriate policies to assist trade facilitation and reduce the cost of doing business in the country.
Ghana has made significant strides in recent years to promote economic growth and development, and trade facilitation is a critical component of this effort. However, as TAGG has pointed out, there is still work to be done to ensure that traders can conduct business effectively and efficiently.
The statement by TAGG is a call to action for policymakers in Ghana to pay attention to the concerns of traders and take steps to address them. Trade facilitation is essential for economic growth and development, and it is critical that Ghana puts in place appropriate policies to support it.
Source: Norvanreports