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
-
I’m proud that despite all the challenges, we have maintained Free SHS – Akufo Addo
2 hours -
Alan’s running mate, KOD says GRASP will revolutionize care for the Elderly in rural areas
2 hours -
Election 2024: Alan paints Accra yellow as the crowd marches through the capital with him
2 hours -
Vacant seats: Speaker has not done what would have led to greater peace – Kofi Bentil
2 hours -
Police on manhunt for Adabraka daylight robbers
2 hours -
Lordina Mahama presents medical supplies and equipment to Tishigu Health Center
2 hours -
Lordina Mahama urges Ghanaians to prioritise regular health screenings
2 hours -
EC to reassess decision on presidential ballot printing next week – Dr Bossman Asare
3 hours -
Shark attacks surfer, 61, on Hawaiian island of Maui
3 hours -
29 Nigerian children may be sentenced to death for protesting against cost-of-living crisis
3 hours -
Nigerian becomes first black woman to lead major political party in the UK
3 hours -
Perception issues affecting Supreme Court – Nii Armah Addy
4 hours -
Armed men bolt with cash at Adabraka market in dramatic daylight robbery
4 hours -
Bawku Conflict: National Security fully aware of events – Bawku Naaba’s lawyer
4 hours -
Dodome to celebrate festival in a bid to construct traditional council facility
4 hours