Accra: The government has announced a strategic partnership with the Association of Ghana Industries (AGI) and the Ghana Union of Traders Association (GUTA) aimed at enhancing the production and trade of made-in-Ghana products to drive economic transformation. This initiative is part of a broader strategy to operationalize a 24-hour economy and generate employment through the reset agenda.
According to Ghana News Agency, the Minister of Trade, Industry and Agribusiness, Mrs. Elizabeth Ofosu-Adjare, indicated that the collaboration with these key private sector entities is designed to transition the economy into one that prioritizes high-quality local products. The strategy aims to reduce costs for both producers and consumers while decreasing the importation of essential commodities.
Mrs. Ofosu-Adjare emphasized the importance of regular joint meetings to assess imports and evaluate domestic production capabilities. She highlighted the need for a collaborative approach among trade and industry leaders to tackle challenges such as access to finance, industrial development, trade facilitation, and capacity building.
AGI President Dr. Humphrey Ayim-Darke remarked on the efforts to make locally manufactured products more affordable and called for government support, including potential amendments to the Public Procurement Act to give preference to Ghanaian products. AGI CEO Seth Twum Akwaboah also called for protective measures against foreign competition to support local manufacturing.
GUTA President Dr. Joseph Obeng praised government efforts to reform the Value Added Tax (VAT) system to enhance compliance and domestic revenue. He stressed the necessity of making tax reforms simple and affordable. Dr. Obeng also noted that many traders are considering a shift towards becoming industry leaders, aligning with the government's self-sufficiency and import substitution goals by exporting made-in-Ghana products.
