Only 25% Of Industries Can Survive - Apraku

The out-going Minister of Trade and Industry, Dr Kofi Konadu Apraku, has said that recent studies on the competitiveness of Industry and Agriculture in Ghana showed that only 25 per cent of industries could survive without import tariffs support.

Dr Apraku who said this at the opening of a two-day preparatory meeting on trade negotiations for senior officials of ECOWAS in Accra further noted that another study on the impact of EPAs on Ghana's economy indicated significant loss of import revenue to the government. There is also expected to be a loss of local market to Europeans and other ACP producers as a result of expected influx of imports.

These according to the Minister were expected to put more pressure on the local currency and put industrial employment at serious risk. He therefore called on the participants to evolve more effective ways to ensure that ECOWAS' concerns were more effectively co-ordinated and pursued in the World Trade Organisation (WTO). Dr Apraku announced that the EU had completed the ratification process of the Cotonou Agreement which should be followed with immediate release of required funding. He said even though some progress had been made in the impact assessment studies, more needed to be done to ensure that the negotiating strategies were informed by exhaustive analysis of all potential impacts of the Trade Agreement.

Dr Apraku noted that critical issues such as market access financing the cost of adjustment, rules of origin, standards, framework for services, trade, agriculture as well as various trade-related issues had not received adequate attention. He said these issues called for increased levels of cohesion among ECOWAS in order to speak with the same voice during negotiations.

In his welcome address, the Deputy Executive Secretary of ECOWAS in charge of policy harmonisation, Mr Mame Cor Sene, underscored the importance of the meeting as it would strengthen the regional body's position on integration and relationship with the EU.

The meeting is expected to discuss among other things the status report on regional integration in West Africa, Doha development agenda and its link with EPA and the status report on EPA negotiations.