Dr. George Domfeh, a senior research fellow and development economist at the University of Ghana (UG) has commended government over the decision to review the standards required for imports into the country.
President Akufo-Addo says government will by May 2023 review the standards required for imports into the country as well as review the management of our foreign exchange reserves, in relation to imports of products.
He made this statement in his address to the nation on the state of the economy on Sunday October 30th 2022.
According to the President, the current rate of importation is a major cause of the depreciating currency.
“In as much as we believe in free trade, we must work to ensure that the majority of goods in our shops and marketplaces are those we produce and grow here in Ghana,” he said on Sunday.
“Products such as rice, poultry, vegetable oil, toothpicks, pasta, fruit juice, bottled water and ceramic tiles, and others which, with intensified government support and that of the banking sector, can be manufactured and produced in sufficient quantities in Ghana.
“Government will, in May 2023, that is six months from now, review the situation,” he said.
Speaking to host of Atinka FM’s AM Drive, Kaakyire Ofori Ayim, on Atinka FM’s AM Drive, Dr. George Domfeh said the difference between Ghana and Western countries is their dependence on locally produced goods.
Read Also: Economy: Support local producers to produce more- GUTA to Gov’t
Dr. George Domfeh urged the general public to reduce our dependence on imported goods, and enhance our self-reliance, as demanded by our overarching goal of creating a strong local industry.
“The review of the standards required for imports into the country is long overdue.” We have spoken about it on countless occasions, and I am glad the government is taking steps to address the issue. It must be our topmost priority to ensure that the majority of goods in our shops and marketplaces are those we produce and grow here in Ghana, “Dr. George Domfeh.”
Similarly, the Chief Executive Officer for the Association of Ghana Industries (AGI), Seth Twum-Akwaboah has backed government’s decision to regulate imported goods into the country.
Seth Twum-Akwaboah said his outfit has always been a firm believer of promoting locally made products.
Ghana | Atinkaonline.com | Vivian Adu
