Minister for Trade and Industry, Kobina Tahir Hammond, is calling for improved systems that will enable developing countries like Ghana to effectively participate in negotiations of the World Trade Organisations (WTO).
Mr. Hammond also wants the restoration of a fully functional two-tier dispute settlement mechanism.
This, he proposed should be made up of Panels and the Appellate Body to give the multilateral trading system (MTS) the needed predictability and certainty.
Additionally, Mr. Hammond is pressing for transparency of governments' trade measures, especially as it pertains to export prohibitions and restrictions as witnessed during the height of the COVID crisis.
“An issue of much concern as I welcome you to Ghana, your Excellency there seems to be lack of proper dispute settlement due to the collapse of the appellate body some time ago which didn’t give parties more room to appeal on their issues. I will like to urge you to take a critical look at it and find a lasting solution to it so that we have a proper adjudicator system” he said.
Mr. Hammond made these pronouncements in a meeting with the Director General of the WTO, Dr. Ngozi Okonjo-Iweala when she paid a courtesy call as part of her Africa tour which begun from Ghana.
As part of measures to reform the organisation, the Minister is also advocating for positively reviewing the “special and preferential” treatment for developing countries and ensuring that existing flexibilities in the Agreement on Agriculture, especially those pertaining to Article 6.2, are fully preserved to help confront the challenges of food insecurity and, reinvigorating the WTO's negotiating function.
On her part, Dr Okonjo-Iweala expressed confidence that the matter will be dealt with in earnest since it has been under consideration for some time. She disclosed that the lack of judges at the WTO is a major challenge to dispute settlements.
She used the opportunity to urge entrepreneurs to take advantage of the good environment for digital trading since Ghana has advanced among its peers on the continent.
Dr. Okonjo-Iweala appealed to the government and the Ministry of Fisheries and Aquaculture to ratify the new regulation on fishing trade for member countries.
She stated that Ghana is a key member of the organization, hence its ratification will go a long way to help the over 12 million population that depend on fishing for their livelihoods.
“Yes we are on course to enhance the trade facilitation and dispute settlement, but I must say the first layer of the settlement mechanism is working. The only challenge is that the second layer is not functional because of unavailability of judges to sit on that panel, however I can assure you that we shall get it resolved soon” she assured.
Mr. Hammond congratulated her for being the first African, and the first woman, to assume the position.
Latest Stories
-
Mahama vows to create an agro-processing zone in Afram Plains
12 mins -
Political parties should plan for losses, not just wins – IGP advises
14 mins -
524 Diasporan Africans granted Ghanaian citizenship in ceremony
15 mins -
Mahama urges Afram Plains North residents to avoid ‘skirt and blouse’ voting
17 mins -
Asantehene receives more 19th century gold ornament and regalia
24 mins -
Hohoe Ghana Blind Union organises training for members ahead of Election 2024
31 mins -
Alan Kyerematen reveals his future plans for Ghanaian Health professionals
32 mins -
AAIN empowers women and small enterprises in Upper East Region through SHINE project
33 mins -
Akufo-Addo leads nationwide commissioning of 80 educational projects
39 mins -
Ghana and Seychelles strengthen bilateral ties with focus on key sectors
1 hour -
National Elections Security Taskforce meets political party heads ahead of December elections
1 hour -
Samsung’s AI-powered innovations honored by Consumer Technology Association
2 hours -
Fugitive Zambian MP arrested in Zimbabwe – minister
2 hours -
Town council in Canada at standstill over refusal to take King’s oath
2 hours -
Trump picks Pam Bondi as attorney general after Matt Gaetz withdraws
2 hours