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Business News of Tuesday, 3 March 2020

Source: www.ghanaweb.com

Coronavirus: Ghanaian traders contemplating other routes for import - GUTA

President of GUTA, Dr. Joseph Obeng President of GUTA, Dr. Joseph Obeng

The Ghana Union Traders Association (GUTA) says the outbreak of the novel Coronavirus in China and some other countries has compelled many of its traders to opt for other routes for import since the epidemic has erupted globally.

This follows the shortage of goods and increase in prices on the global trade market since the outbreak of the virus.

According to the President of GUTA, Dr Joseph Obeng, many traders especially informal ones are now contemplating other routes like Dubai to import their goods since the virus outbreak in China does not appear to be easing down.

“What is now worrying us is that because of the outbreak of the coronavirus, the holidays season for persons living in China has been extended even though some have resumed work by now, production of goods and products are still in delay and any order that you make is going to be delayed and that affects mostly the informal traders from Ghana.”

“It will now mean that the traders will now have to go ahead to other destinations like Dubai which is another hub for most of the Chinese manufacturing industries and products. Many people have turned to that destination and they’re are also going to face shortages any time soon due to the high traffic for demand and supply,” Dr Joseph Obeng said in an interview with GhanaWeb on March 3.

He added that even though there are other destinations like Turkey and other places, China still remains the global hub for all manufacturing activities.

“Manufacturing is also now tied up which means that some other components still come from China even to those new destinations so if they’re not getting the required components from China, it still means that it will affect other destinations of production and it's very eminent that we’re going to face some shortages,” he explained.

Since the coronavirus broke out last month, majority of Ghanaian businessmen and women who go to China to bring in goods have failed to do so. This is a result of the nature of the disease which is easily transmittable.