WT/TPR/M/298  
2 July 2014  
(14-3773)  Page: 1/30  
Trade Policy Review Body 
26 and 28 May 2014   
 
  TRADE POLICY REVIEW 
GHANA 
MINUTES OF THE MEETING 
Chairperson: H.E. Mrs Mariam MD Salleh 
CONTENTS 
 
1  INTRODUCTORY REMARKS BY THE CHAI RPERSON ....................................................... 2  
2  OPENING STATEMENT BY THE RE PRESENTATIVE OF GHANA  ....................................... 3  
3  STATEMENT BY THE DISCUSSANT ................................................................................ 6  
4  STATEMENTS BY MEMBERS .......................................................................................... 9  
5  REPLIES BY THE REPRESENTATIVE OF  GHANA AND ADDITIONAL COMMENTS ........... 24  
6  CONCLUDING REMARKS BY THE CHAI RPERSON ......................................................... 29  
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies 
provided by Ghana are reproduced in document WT/TPR/M/298/Add.1 and will be available online 
at http://www.wto.org/english/ tratop_e/tpr_e/tp_rep_e.htm. WT/TPR/M/298 • Ghana 
 
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  1  INTRODUCTORY REMARKS BY THE CHAIRPERSON 
1.1.  The fourth Trade Policy Review of Ghana wa s held on 26 and 28 May 2014. The Chairperson 
H.E. Mrs Mariam MD Salleh (Malaysia) welc omed the delegation of Ghana headed by 
H.E. Mr Haruna Iddrisu, Minister of Trade and Industry; H.E. Mr Sammie Pesky Eddico, Permanent 
Representative of Ghana to the WTO; the rest of the delegation from Accra; other colleagues from 
the mission in Geneva; and the discussant, H.E. Ms Wiboonlasana Ruamraksa (Thailand). 
1.2.  The Chairperson recalled the purpose of the Tr ade Policy Reviews and the main elements of 
the procedures for the meeting. The report by Ghana was contained in document WT/TPR/G/298 
and that of the WTO Secretariat in WT/TPR/S/298. 
1.3.  Questions by the following delegations had been  submitted in writing at least two weeks in 
advance and had been transmitted to the delegati on of Ghana: United States; Turkey; Australia; 
Singapore; Indonesia; Colombia; Japan; European Union; and China. The following delegations 
submitted written questions after the two-w eek deadline: Brazil; Canada; and Thailand. 
1.4.  Ghana had significantly improved the standards of living of its population thanks to its recent 
strong economic growth, its efforts towards improving governance, and its fight against poverty. 
Ghana had become one of the few "medium human development" countries in the region, and was the first country in Sub-Saharan Africa to achieve the Millenium Development Goal of halving 
extreme poverty.  
1.5.  Ghana's exports were dominated by gold, cocoa and, since 2010, oil. Consequently, its 
economy remained vulnerable to exogenous shocks. The lack of diversification raised questions about the structural reforms that Ghana would want to pursue in the future. 
1.6.  Ghana had maintained a generally liberal business environment and had improved the legal 
and administrative framework for commercial oper ations. This, together with abundant natural 
resources, had contributed to strong economic growth and to attracting foreign direct investment 
over the review period. However, in the absence of sufficient fiscal and monetary discipline, the 
economy had experienced serious macroeconomic imbalances, culminating in continued depreciation of the cedi, the local currency. 
1.7.  A large number of Ghana's tariff lines were unb ound and at the same time, its applied MFN 
tariff changed frequently, with numerous exemptio ns. If implemented, the common external tariff 
of the Economic Community of West African States (ECOWAS), of which Ghana was a member, would surely contribute to stabilizing its tariff regime. Numerous other duties and charges 
remained in place despite their binding at zero  by Ghana. Furthermore, Ghana had recently 
embarked on several new local content or revenue raising initiatives affecting trade and investment. 
1.8.  The area with the most important changes in Ghana's trade policy since the last review was 
services. Recent changes to the services trad e regime had been mainly introduced through 
amendments to the Investment Act. In 2014, Ghana started to implement new foreign equity 
restrictions that differed from those it bound under the GATS. 
1.9.  The Chairperson was sure that these issues, and many more, would be touched upon in 
greater detail at the deliberations on the first and second day of the TPR meeting. WT/TPR/M/298 • Ghana 
 
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  2  OPENING STATEMENT BY THE REPRESENTATIVE OF GHANA (H.E. MR HARUNA 
IDDRISU) 
2.1.  Let me thank you for accepting to chair this particular session which affords Ghana an 
opportunity to, once again, demonstrate our commitment to the multilateral trading system and to 
the Trade Policy Review. I should also thank Her Excellency Ruamraksa for accepting to be a 
discussant of this session. Let me express my grat itude to Member States present for accepting to 
be part of this process.  
2.2.  I will, in the course of my presentation, share with you some steps and efforts that the 
Government has been taking, especially after the last Review, in relation with trade policies to ensure that sound trade and trade-related policies are implemented and that the economy is prudently managed. As indicated in the Secretariat and Government Reports, significant 
improvements have been made in Ghana’s macroe conomic environment since our last review. In 
accordance with the Ghana Shared Growth and Development Agenda (GSGDA 2010-2013), 
economic policy has focused on supporting oil and gas development with investments in 
infrastructure, energy and housing.   
2.3.  It has also been the priority of the Government to achieve more transparent and accountable 
governance while focusing on human development in the areas of health and education, among 
others, as means of reducing poverty. These efforts have resulted in the advancement of the 
economy at a very fast pace in the period under review. In the wake of rising primary commodity prices and generally good agricultural production conditions, coupled with Government’s resolve to implement prudent fiscal policies, Ghanaians have enjoyed high increases in real per capita 
incomes which contributed in moving the country to the lower middle-income status in 2010, 
ahead of the estimated target of year 2020. 
2.4.  We have, over the years, in spite of the challenges, achieved consistent growth rate in our 
economy. GDP was 7.9% at the end of 2013 and for the last decade we have grown between 5 
and 7%. We successfully aligned the industrial poli cy and its implementation with the industrial 
sector support programme of overcoming supply side constraints which have prevented us from 
taking full advantage of market access opportuniti es offered by the multilateral trading system. 
2.5.  The Industrial Sector Support Programme has 18 carefully designed projects with detailed 
implementation plans, with emphasis on improving the manufacturing sector, particularly small and medium enterprises (SMEs), which has been empowered to expand and create opportunities 
for employment as well as the reduction in poverty and spatial inequalities in Ghana. 
2.6.  His Excellency President Mahama, our leader, is now emphasizing the need for us to change 
the structure of the Ghanaian economy, in terms of improving the domestic productive capacity. 
2.7.  We have also launched our national export strategy, which is seeking to increase our national 
exports up to US$5 billion from the current US$2.3 billion.  
2.8.  Ghana continues to embark on the implementation of trade facilitation measures with a view 
to introducing transparency and efficiency in customs clearance in order to reduce the cost of 
doing business in Ghana. The introduction of the use of Information Communication Technology (ICT) in trade facilitation since 2003 significantly improved the processing of trade and customs 
documentation, payment procedures and thereb y enhanced revenue collection. The continued 
operation and maintenance of enhanced transit tracking systems for transit and warehoused goods 
has eliminated some of the delays and risks associated with the movement of these goods. In furtherance of the commitment to improving ease and reducing the cost of doing business, the 
Government will deploy more non-intrusive cargo scanning equipment at the country’s strategic 
ports and exit/entry points by the close of the year. 
2.9.  As part of our commitment to the multilateral trading system and in preparation for outcomes 
of the Bali conference, Ghanaian officials from various government agencies and private sector, 
and with support of WTO and other international consultants, conducted an assessment of our needs and priorities in the WTO trade facilitation negotiations. The results were sent to our representatives in Geneva to assist them to negotiate more effectively on the proposed measures 
of what has now become the Trade Facilitation Agreement. WT/TPR/M/298 • Ghana 
 
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  2.10.  I should emphasize that the outcome of the assessment indicated that Ghana was more 
than 50% fully compliant with most of the trade facilitation measures that were adopted. 
2.11.  We remain committed to sub-regional, regional economic cooperation, and integration as 
well as to the multilateral trading system and actively participate in ECOWAS and WTO activities at 
all levels. In November 2013, leaders of ECOWAS States adopted a Common External Tariff (CET) 
for all 15 member States of the Community, whic h is expected to be implemented after the 
member States have successfully negotiated the conclusions with other WTO Members. Ghana’s 
"stepping stone" agreement with the EU which cove rs only trade in goods will then be superseded 
by the concluded ECOWAS-wide Agreement. As indicated in our Government Report, indications are that the WA-EU EPA is likely to be signed before the end of 2014. We are mindful of the fact that any such trade agreement should not lead to loss of jobs, investment and other related 
issues.  
2.12.  Our expectations from the ongoing Doha Development Agenda remain as valid as ever 
before. Following the partial success in Bali, we wish to reiterate our call for balance in the 
negotiations and the need to ensure development outcomes whilst adhering to the principle of 
single undertaking for the remaining areas where early harvest can be achieved. 
2.13.  We support multilateralism that can bring developing and least-developed countries fully 
within the Community of fair trading and help them, in particular, to alleviate poverty and put 
them on a path of sustainable growth and develo pment. However, Ghana is not immune from the 
deleterious effects of export subsidies and trade distorting domestic support of some WTO Members. Against this backdrop, the elimination of export subsidies and substantial reduction in 
domestic support in the Doha Round are a priority for the Government of Ghana. Other areas in 
the agriculture negotiations of special interest to Ghana include particularly the reduction or elimination of tariff peaks and tariff escalation on products of exports to Ghana, the 
self-designation of special products by developing countries to be treated flexibly in the 
negotiations, and a Special Safeguard Measures to deal with import surges. Preference erosion is also a matter of concern to Ghana and it is our expectation that negotiations in these areas would 
be concluded in a manner that would give true meaning to the DDA as a development round. 
2.14.  The current challenges our economy is facing, as I indicated earlier, include weakening 
commodity prices, continued depreciation of the cedi  and some crises with energy. We still need to 
expand our generational capacity. We are currently at 2,800 megawatts wanting to achieve 
5 thousand megawatts by the end of 2017. 
2.15.  As many of you have appreciated recently, we held a national economic forum to build a 
national consensus on how to strengthen and sustain the gains that we have made in the 
management of the macro-economy and achieve a sustainable development. We are also 
expanding gas production to support industry. We are now ready to do business with the rest of the world. We have reviewed our investment polic y which now offers better incentives, benefits 
and guarantees in the area of agriculture and agro-processing; in cotton and textiles; mineral 
processing; oil and gas; tourism; energy; infrastructure; utilities; and health, which foreign investors are urged to take advantage of to invest in Ghana.    
2.16.  As a country, we very much appreciate the technical assistance that we have received from 
the WTO under the Doha Development Agenda Global  Trust Fund, which a number of trade officers 
have benefited from in the form of Geneva-based and regional trade policy courses, as well as national and regional workshops. I therefore wa nt to express our gratitude for the continuing 
support in this particular area. We also are working on a form of trade-related legislations and 
regulations. 
2.17.  In addition, more support would be required by  Ghana as a developing country to overcome 
its supply-side constraints to be able to take advantage of market access opportunities offered by 
the multilateral trading system. We therefore wish to call on the WTO to assist developing countries like Ghana without competitive supply capacity to address their supply-side constraints through, in particular, the Aid for Trade initia tive. I therefore appeal to Members and trading 
partners to support Ghana's industrial sector su pport programme and our national export strategy 
for promotion of non-traditional exports.  WT/TPR/M/298 • Ghana 
 
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  2.18.  To conclude, Madam Chairperson, once again let me thank you for accepting to chair this 
meeting and doing it so ably and also to H.E Ms Wiboonlasana Ruamraksa for accepting to be the discussant. WT/TPR/M/298 • Ghana 
 
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  3  STATEMENT BY THE DISCUSSANT 
3.1.  May I also join you in welcoming the delegation of Ghana, led by H.E. Mr Haruna Iddrisu, 
Minister of Trade and Industry, to Geneva. I am very honoured to be the discussant for Ghana's 
fourth Trade Policy Review, an import ant exercise of this Organization. 
3.2.  Before I begin my remarks on Ghana's trade policy, I would like to highlight some facts that 
not everyone may be aware of about Ghana. Ghana was the first African nation to declare independence from European colonization in 1957. Ghana's economy is the 7th largest in the 
African continent by purchasing power parity and the 7th largest in the African continent by 
Nominal GDP. Under the Doing Business Ranking of  the World Bank Group, Ghana ranks 67th on 
the ease of doing business and came third among the countries in the African region. 
3.3.  In my statement, I will discuss Ghana's economic environment; trade and investment 
regimes; specific policies and practices; and some sectoral policies in the Ghanaian economy.   
3.4.  Ghana has a great potential in the world trading system, demonstrated by its economic 
environment and trade and investment regimes in recent years. Since Ghana's last Trade Policy 
Review in 2008, Members have witnessed an overall economic and institutional improvement 
mainly due to its responsive well-functioning governing system and use of its rich natural resources. These have contributed to Ghana's strong economic growth, including a promising 
increase in income per capita from around US$1,100 in 2007 to US$1,600 in 2012, as well as 
progress on the Human Development Index during 2005-2012 in all three aspects, including education and health. 
3.5.  On trade and investment, we have also observ ed Ghana's expanding trade, both on import 
and export sides, with exports more than trip ling during the review period to US$14 billion.  
However, since this impressive figure for exports mainly comes from Ghana's principal commodities of oil, cocoa and gold, continuation of diversification of its export base would better 
secure and consolidate this economic achievement. 
3.6.  I believe that the most notable aspect of Ghana's economic advance is the successful 
progress of its business environment in attracti ng foreign investments. Examples of Ghana's 
accomplishments that are worth mentioning here  include a reformed land administration, new 
commercial courts, new business procedures, and innovative procedures in enforcing intellectual property rights. The Ghanaian Government has also made a noteworthy effort in investing in information and communication technology, which in turn has resulted in a decline in the 
bandwidth price and the cost of mobile communicati ons. These factors increase Ghana's global and 
regional competitiveness. 
3.7.  Against all of the evidence of success, several aspects of Ghana's economy are still of 
concerns, for example, the issues of macroeconomic stability, including stabilizing its currency 
through an effective monetary policy, and equally by reviewing planning public spending through 
appropriate fiscal policies. 
3.8.  Regarding the multilateral trading system, Ghan a was the original Member of the WTO since 
1 January 1995 and has been involved in the Doha negotiations and other aspects of the O r g a n i z a t i o n  a s  a  M e m b e r  o f  s t r o n g  c o a l i t i o n s  s u c h  a s  t h e  A C P  G r o u p  a n d  t h e  A f r i c a n  G r o u p .  Ghana was also among the nine candidates for the post of Director-General of the WTO at the last 
selection process, showing Ghana's keen interest in and willingness to contribute more to the 
multilateral trading system. 
3.9.  Ghana is also a member of the Economic Commu nity of West African States or ECOWAS since 
1975. One of ECOWAS' aims is the establishment of an economic union in West Africa; however, 
an optimal level of trade has not been reached. The opportunity for trade intra-ECOWAS in general 
should further increase overall trade in the region  as well as Ghana's total trade. It will be 
interesting to hear Ghana's view on the progress of this regional integration. 
3.10.  I would like to now highlight Ghana's specific trade policies and practices. Parallel to 
becoming an attractive environment to foreign investments, Ghana has shown its notable development of its transit systems during the review period. It modified several of its transit WT/TPR/M/298 • Ghana 
 
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  systems, such as customs' introduction of the use of transponders to track transit trucks in real 
time and installation of cameras at entry and exit points, which has helped reduce time and transport costs of goods crossing the country and se curity. Thanks to these facilitations, trade flow 
has been nearly doubled. Ghana's relatively progre ssive policies are a positive sign for its timely 
implementation of the Trade Facilitation Agreement in the future. In addition, Ghana has been 
more active in promoting exports and established several schemes to encourage export of over 383 non-traditional products, categorized as agricultural, processed/semi-processed and 
handicrafts. This effort to diversify the export base of the country is important and commendable. 
3.11.  Ghana's promotion schemes cover, to name a few, market access facilitation for export 
companies, trade information services, and advisory services on export product development. I also believe that with the Ghana Export Promotion Authority working closely with the 
UNCTAD/WTO International Trade Centre in Geneva, so as to identify and support exports of new 
products, Ghana's export market will be stronger through more diversification and contribute more to the global trading system. 
3.12.  Against Ghana's emphasis on trade expansion, there have been several concerns about 
Ghana's trade measures, including the frequently modified MFN tariff, the current application and 
increasing incidence of other duties and charges (ODCs) on imports, complicated and lengthy 
customs clearance procedures, the import licensing procedures, other registrations required for 
imports and identification of origins, and lack and delay of notifications in different areas such as 
customs valuation, SPS, and TBT. 
3.13.  Allow me to address the third part of this stat ement on particular sectoral policies that are 
highlights of Ghana's trade policy. They  are agriculture, mining, and energy. 
3.14.  It is evident that Ghana's growth in the ag riculture sector since 2007 has been remarkable. 
The growing world prices of cocoa, of which Ghana is the world's second largest producer, partially 
contributed to the growth. However, I believe that Ghana's agricultural policy has tremendously 
played a role towards this achievement. The Government has maintained the policy of supporting agri-food production and exports and currently gives priorities in modernizing agriculture, 
improving natural resource management, and increasi ng efficiency and productivity. In addition to 
impressive annual exports of cocoa which are over US$2 billion, domestic prices of other agricultural products have also grown and helped increase nominal farm incomes. The Government's accomplishment in allocating 10% of its expenditure to its agricultural sector has 
also contributed to the increase of food production.  
3.15.  In mining, Ghana is also among the top gold re serves in the world and is the world's eighth 
largest gold producer at 97 tonnes in 2012. Both gold and non-gold mining, such as aluminium 
and manganese, has been the main attraction of foreign direct investments. 
3.16.  In addition to cocoa and mining, Ghana's oil production has become more and more 
important since 2010. The economy has been advanced, and the Government created another 
national energy regulatory body and two sovereig n petroleum wealth funds. Ghana also introduced 
further deregulation of the downstream petroleum sector since the last TPR. 
3.17.  These three main sectors are currently Ghana' s driving economic force. However, Ghana's 
rationale for local content and local participation policies in energy and mining sectors and policies 
in small-scale mining could be questioned, and Ghana's plans for stemming the decline of its 
fishing industry and the sector's joint-venture obligations require some clarification. The Ghanaian Government may also want to address concerns on its 2013 amendment to the investment law 
which seems to raise the minimum capital that foreigners are required to invest to a larger amount 
than indicated in Ghana's GATS commitments. 
3.18.  In conclusion, Ghana's economy has shown great potential and trade-wise is heading in the 
right direction. With all the positive trade and economic developments, Ghana can play a 
significant exemplary role for other African countries in tapping the maximum benefits of the multilateral trading system. However, there are still several areas in which the Government of Ghana can potentially increase the advances already made in its economy and, in turn, further an 
effective and efficient trade regime that can be utilized in advancing other development aspects.  
Trade among ECOWAS members is to be utilized as an opportunity for Ghana to grow WT/TPR/M/298 • Ghana 
 
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  economically, along with continuation of diversification of Ghana's economy and development of 
infrastructure, as remarkably progressed throug h its transit systems. Some of Ghana's WTO 
obligations should also be addressed so as to  ensure transparency and consistency of the 
measures to the rules of this Organization. I applaud the effort Ghana has made in advancing its 
economy in the recent years and I am confident that the next step taken by the Ghanaian 
economy will be even better, ensuring a more in tegrated Ghana within the multilateral trading 
system.   WT/TPR/M/298 • Ghana 
 
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  4  STATEMENTS BY MEMBERS 
UNITED  STATES 
4.1.  Ghana is an important and growing trading partner of the United States, and it continues to 
benefit from U.S. trade preference programs. In  2013, U.S. duty-free imports from Ghana under 
the African Growth and Opportunity Act (AGOA) an d the U.S. Generalized System of Preferences 
(GSP) totalled US$34.7 million. Such imports included a number of value-added cocoa products, apparel, baskets, and wood products. 
4.2.  Since Ghana's last review, the Government has pursued robust economic reforms. Its 
macroeconomic fundamentals, nonetheless, remain challenging, with fiscal deficits, increased inflation, and currency depreciation complicating macroeconomic stability. We are interested to hear Ghana's plans to address the policy challenges in the near-term to help restore 
macroeconomic stability. Among the steps the Government is taking to deal with the expanded 
budget deficit are higher taxes, especially on trade. The Secretariat indicates that the share of taxes on international trade has risen to 4% of GD P and to over a third of fiscal revenue. We hope 
that Ghana will explain during this review why it seems to rely heavily on high external taxes and 
other duties and charges for revenue purposes, and how Ghana views this policy as contributing towards its development aspirations. Can Ghana provide reassurances that it plans to use these 
additional revenues to finance growth-enhancing infrastructure and trade capacity building rather 
than further increases in the public sector wage bill? 
4.3.  In recent years, Ghana has been fortunate to discover significant oil and gas reserves, and is 
moving to develop a process to invest these resources in a way that promotes overall economic 
growth and benefits for the Ghanaian people as a whole. How this process unfolds will have a 
major, long-term impact on Ghana's growth. Downstream oil and gas value-added processing offers scope for expanded industrial production and growth. As Ghana seeks to use its oil and gas 
reserves, it is important to avoid counterproductive policies, such as local content requirements, 
that distort trade, limit foreign investment and participation in this sector, and create non-competitive companies. Unfortunately, in November 2013, Ghana passed a law requiring 90% 
local content in the oil and gas sector by 2023. We  hope that the Government will reconsider this 
choice and eliminate this requirement. 
4.4.  Ghana has begun to show stronger support for public-private partnerships, and it has made 
progress since its last TPR to encourage foreign direct investment and private sector growth. The 
Government also has taken new steps to encourage the foundation and growth of small and 
medium enterprises through its National Board for Small Scale Industries. We also hope that Ghana will continue to make progress on removing gender-based impediments so that women 
entrepreneurs, farmers, and business-owners can fully participate in global trade. 
4.5.  We note that there have been frequent tariff rate modifications since Ghana's last TPR, and 
we are concerned by the Secretariat's statement that "Ghana's adoption of the ECOWAS Tariff 
would bring considerable changes to Ghana's tariff structure" and, in particular, that "seven of the 
WTO tariff categories would record tariff increa ses, in some cases by a large margin". We 
encourage Ghana to work with ECOWAS to lower tariffs, not raise them. Very few of Ghana's 
non-agricultural tariff lines – only 1% – are bound, but we hope that Ghana will reassure Members 
today that it will undertake not to break any of its existing WTO tariff bindings as a result of these 
tariff increases. If Ghana is breaking any tariff bindings as a result of its ECOWAS commitments, we ask that it explain during this review how it expects to bring its tariff policy back in line with its 
WTO commitments. Ghana also appears to maintain a long list of products that require licenses 
prior to and as a condition of importation. Finally, the Government seems to be blocking imports of certain agricultural products, including poultry and rice, through the use of import licenses and 
quotas. In light of Ghana's steps toward trade liberalization, we hope that Ghana will reassess and 
bear in mind its economic development objectives and WTO obligations when creating and implementing its trade policy. 
4.6.  The lack of adequate and effective protection of intellectual property rights (IPR) continues to 
be a U.S. concern. There is little government-initiated enforcement. Ghana's Copyright Office 
periodically has initiated raids in pursuit of pirated works, and Ghana's Customs Service has collaborated with concerned companies to inspect import shipments. We urge the Ghanaian WT/TPR/M/298 • Ghana 
 
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  Government to continue to strengthen its protec tion and enforcement of IPR, including through 
better coordination of its enforcement agencies , development of a national strategy on IPR 
protection, public outreach and education on the importance of IPR to Ghana's economic growth, and by being regionally proactive in prom oting IPR protection and enforcement.  
4.7.  Over the last five years, U.S. trade capa city-building assistance in Ghana totalled 
US$38 million. USAID's West Africa Trade Hub is based in Accra, Ghana and focuses on improved management and governance of West Africa tr ade corridors, including those emanating from 
Ghana's port in Tema, to link trade and customs information, stimulate export development, and 
address critical sanitary and phytosanitary (SPS) issues. USAID, in partnership with the Borderless Alliance, has also worked to establish Border Information Centers (BIC) to provide information and assistance to traders, which have proven successful  in simplifying procedures and reducing delays 
for traders. There are numerous centres around the region, including centres focused on the 
Ghana-Togo border and the Ghana-Burkina Faso border. USAID is also working on programs aimed at enhancing the competitiveness of agricultural firms in domestic, regional, and 
international markets, as well as strengthening management of the oil and gas sector. 
4.8.  The United States welcomes the steps that Ghana has taken to improve its economic 
governance and to liberalize its trade regime. We lo ok forward to continued work with Ghana, both 
bilaterally and within the WTO. We especially hope to work closely with Ghana in implementing the 
WTO Trade Facilitation Agreement, recognizing th e considerable benefits that will accrue to 
countries like Ghana. 
4.9.  In closing, the United States greatly appreciates the opportunity to participate in this review 
of Ghana's trade policy regime and looks forward to continuing our dialogue with your 
Government. 
TURKEY 
4.10.  At the very outset, we wish to commend the Government of Ghana for its achievements of 
more than 7% GDP growth since 2007. It is also  important to note that this recent economic 
achievement has been driven mainly by  the service and industrial sectors. 
4.11.  Although, the Ghana's economy has been facing some challenges since 2011 due to the 
volatile international commodity and energy market fluctuations, we are happy to read from the Government Report that Ghana has undertaken extensive measures with a view to further reforming its economy. 
4.12.  As a result of good governance and the polic y measures undertaken by the Government, the 
Secretariat Report mentions that Ghana has made impressive improvements in its per capita income and now it stands as one of the medium human development countries in its region. 
4.13.  Ghana in general maintains an open and liberal trade and investment regime for its goods 
and services. Ghana has been becoming a very attractive destination for both domestic and foreign investment. In this context, it is good to observe that Ghana's trade has also been 
expanding successfully. The Secretariat Report underlines that Ghana's exports more than trebled 
and its imports grew even faster during the re view period. Moreover, reaching to US$16 billion, 
the FDI inflows into Ghana also recorded four fold increased between 2007 and 2002. 
4.14.  One should also underline Ghana's recent massive investments into the ICT sector, 
particularly in fibre optic broadband technology to  improve its ICT and internet infrastructure. The 
Secretariat Report mentions that the cost of mobile communication in Ghana is among the lowest in Africa and the number of the schools with computer is on the rise. 
4.15.  Like any other Members of the WTO, Ghana has also room to further improve and reform its 
trade and economic system. Modifying its transit system, Ghana has recently been able to double its transit flow. However, the Secretariat Report underlines that Ghana needs to further reform and 
improve its customs clearance and export procedures  to eliminate the bottlenecks to the Ghanaian 
companies. Ghana can also improve its border ri sk assessment procedures and its customs tariff 
exemption system, and its licence system. WT/TPR/M/298 • Ghana 
 
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  4.16.  We hope that Ghana's effort to improve its energy subsidy system, electricity prices, 
enhancing the production in fish and livestock subsectors yields its intended objectives. 
4.17.  Ghana has also been spending important efforts to stabilize its macroeconomy and to 
smooth out the effects of international commodity price fluctuations. We believe that, as was 
underlined in the Government Report, Ghana can implement an optimal mix of fiscal and monetary 
policy that will ensure both the stability of the prices also an effective and efficient natural resource governance. 
4.18.  In this respect, we also see the Ghana's recent initiative of petroleum fund as a critical step 
towards achieving a transparent, accountable and sustainable resource management. 
4.19.  I would like to underline that Ghana is an important trade and investment destination for 
Turkey. We signed several agreements to deepen  our relations with Ghana including the spheres 
of health, air transportation, foreign, security and defence policies. We are also about to finalize a 
free trade agreement between the two countries. 
4.20.  Our trade volume reached more than half billion dollars in 2012, although we have 
witnessed some decline after this year due mainly to the fluctuations in international markets. We 
want to recover, gain again momentum and further improve our trade and investment relations with Ghana. 
4.21.  Our private sector is also becoming increasingly interested in Ghana, and in this context, I 
would like to specifically mention that we are working closely with the ITC to develop pilot projects in Africa including a specific project in Ghana taking into account recent global value chain works of the WTO. 
AUSTRALIA 
4.22.  Australia enjoys a positive bilateral relationship with Ghana, including healthy trade and 
economic ties. We have been pleased to contribute  to capacity building in Ghana, including in the 
area of trade policy and mining governance.  
4.23.  Ghana's political stability and strong democratic institutions are contributing to robust 
economic growth, as the WTO Secretariat Report recognizes. During the review period, Ghana 
recorded considerable improvements in income per capita and on the Human Development Index. 
Ghana's commitment to ongoing reform underpins its solid prospects for maintaining the current economic expansion.  
4.24.  Australia and Ghana have a shared interest in a strong and open multilateral trading 
system. As with all WTO Members, we encourage Ghana to work towards the implementation of 
the Agreement on Trade Facilitation, and support the development of the post-Bali work program. 
Achieving progress in both these areas is of ut most importance to the ongoing success of the 
multilateral trading system. We welcome efforts by the Government of Ghana to facilitate trade 
and encourage it to continue to pursue further measures to rationalise its transit system and reduce duplication between agencies.  
4.25.  We acknowledge the progress made in gradually moving towards closer regional integration 
among the Economic Community of West African States (ECOWAS). We highlight in particular the adoption of a Common External Tariff in Octobe r 2013. We look forward to seeing its full 
implementation from January 2015 and encourage Ghana to take further steps to reducing tariff 
and non-tariff barriers. Implementation of trade facilitation measures through the Agreement on 
Trade Facilitation has the potential to make a significant positive contribution in this regard. 
4.26.  We note the complexity of Ghana's regime of  tariff and other import duties. Streamlining 
this regime would have a positive effect, loweri ng the regulatory costs incurred by traders.  
4.27.  We note the Secretariat's comments related to the impact of Ghana's expansionary fiscal 
and monetary policy on its budget deficit, currenc y and inflation. Recognizing the importance of 
sound macroeconomic fundamentals in creating a positive climate for trade and investment, WT/TPR/M/298 • Ghana 
 
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  Australia encourages the Government of Ghana to reduce its expenditure and broaden its tax base 
to capture sectors such as real estate and the informal sector.   
4.28.  The attractiveness of Ghana to foreign investors like Australia is clearly demonstrated by the 
dramatic increase in foreign direct investment between 2007 and 2012. Australian mining 
companies are among those who have recognized opportunities in Ghana's economy. It is 
important that the Government of Ghana puts in place an attractive regulatory regime to continue to attract new mining investment. Specifically, the Government should implement policies that 
help develop the mining sector as a whole while also ensuring that local communities benefit from 
these operations.   
4.29.  Australian companies would welcome the opportunity to work further with the Government 
of Ghana in developing policies that benefit indu stry, the economy, and the people of Ghana alike. 
Australian investors operate best when there is a clear, transparent and predictable regulatory 
regime in place.    
4.30.  Australia is supportive of Ghana's efforts in this area, and, as a country with substantial 
experience in both mining and development, we have been pleased to support the Government of 
Ghana to build capacity in mining governance and geosciences through technical support and training opportunities. Our cooperation has help ed Ghana to increase revenue generated from 
mining activities through more effici ent and effective revenue collection.  
4.31.  Australia is keen to provide constructive input to this review process. We have submitted 
questions covering specific aspects of Ghana' s trade and economic policies. These reflect 
Australia's interest in reforms of the legal and regulatory framework governing the mining sector. 
We have also submitted questions on a range of other trade policy-related issues. We thank Ghana 
for the replies submitted, which we are currently reviewing. We note that Ghana's replies indicate a response is yet to be provided on one question and we look forward to receiving this.  
4.32.  We look forward to continued engagement with Ghana in coming years, including through 
greater bilateral trade and investment.  
INDONESIA 
4.33.  Indonesia appreciates Ghana's achievement on  its economy which has been growing at 
above 7% since 2007, driven mainly by the service and industrial sectors. This positive economic 
performance has facilitated Ghana's transition from a low-income economy to a lower-middle-income economy.  
4.34.  We also recognize Ghana's active participation in the multilateral trading system. We 
appreciate that Ghana has bound all its agricultural tariffs in the Uruguay Round. However, currently Ghana bound only 1.2% of its industrial  tariffs. Indonesia encourages Ghana to increase 
its industrial tariff binding which in turn will ensure predictability of its business environment and 
contribute more to its economic growth.  
4.35.  Indonesia's bilateral trade relations data with Ghana shows an increasing trend with the 
latest figure of export in 2013 reaching US$246.5 million while our import from Ghana in the same 
year reached US$25.6 million. Indonesia's export to Ghana includes products such as refrigerators, freezers, machinery and mechanical appliances. We have every confidence that our trade relations 
will grow further in the future.  
4.36.  We have submitted several written questions to the delegation of Ghana on a number of 
issues such as Ghana's investment regime, coco a exports, banking services, custom procedures, 
SPS as well as regulation of labelling, packaging and marking of specified products. We thank the 
delegation of Ghana for providing their responses. 
COLOMBIA 4.37.  Since its last Trade Policy Review, Ghana has had high growth rates (7.9% in 2012), driven 
by the increase in natural resource exports and foreign investment. This has led to the 
implementation of several ambitious programmes, such as: (1) large investment in information WT/TPR/M/298 • Ghana 
 
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  and communication technology; (2) initiatives to improve the road network and infrastructure in 
general; and (3) the promotion of SMEs as a motor of growth by giving them better access to credit. Aside from these programmes, Ghana continues to be one of the most solid democracies in Sub Saharan Africa. These factors will help Ghana to maintain its current economic expansion. 
4.38.  The following data reinforces this conclusion: 
 Ghana possesses the third fastest Internet co nnection on the continent, and the cost of 
 communications is among the lowest in Africa. 
 Its stock exchange is the third biggest on the continent. 
 It is Africa's second largest producer of gold and the world's second largest exporter of 
 cocoa. 
 In Ghana, women play a key role in the state, holding 40% of public offices. In the words of 
 the Ghanaian Kofi Annan, "women's equality must be a central component of any attempt to 
 solve the world's social, economic and political problems". 
4.39.  Nevertheless, despite this impressive progress, so me areas are still of concern to us, five in 
particular. 
4.40.  Regarding the economic environment: 
 The heavy concentration of exports on three commodities (gold, cocoa and oil) accounting 
 for 85% of Ghanaian exports, which prompts us to encourage Ghana's efforts to further 
 diversify its economy. 
 The macroeconomic policy and particularly the expansionary fiscal and monetary policy, 
 which has occasioned unsustainable budget deficits and led to inflation rates of over 10%. 
4.41.  Regarding Ghana's trade policy: 
 We are concerned by the low level of tariff bindings, tariff instability, and the high number of 
 exemptions. 
 The numerous problems that persist in the ar ea of trade facilitation and undermine the 
 competitiveness of the economy: slow clearance procedures, defective scanners, multiple  destination inspection agencies, and expensive and congested operations in the ports, 
 among other things. In this context, a swif t implementation of the Trade Facilitation 
 Agreement agreed in Bali is of vital importance for Ghana and the region; indeed, this is a  key initiative for counteracting the aforementioned problems and making the Ghanaian  economy more competitive. 
 The lack of notification of the state trading enterprise which holds the cocoa monopoly in 
 Ghana. 
4.42.  In conclusion, we wish Ghana success in the re view of its trade policy and we encourage it 
to continue seeking fuller integration in the world economy through greater diversification of its 
economy. In this connection, the recommendat ions of the annual meeting of the African 
Development Bank Group held last week in Kigali (Rwanda) are quite pertinent: they indicate that 
African countries must tap global markets more effectively in order to strengthen their economies, 
and that they must invest more in new and more productive sectors; train the labour force; boost employment and acquire new technologies. This is without doubt a suitable roadmap for reaching "the Africa we all want". 
JAPAN 
4.43.  Let me start with Ghana's macroeconomic environment and policies. According to the Report 
by the Secretariat, Ghana has maintained a high  e c o n o m i c  g r o w t h  r a t e  i n  r e c e n t  y e a r s ,  f o r  
example, 15% in 2011, 7.9% in 2012 and 7.4% in 2013. Ghana has also maintained sizable WT/TPR/M/298 • Ghana 
 
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  foreign direct investment, making Ghana one of the largest FDI recipients in Africa. Japan 
commends that Ghana's well-functioning democratic institutions and good governance, in addition to its rich natural resources, have contributed to strong economic growth. 
4.44.  On the other hand, the Report by the Secretariat refers to a massive depreciation of the 
Ghanaian cedi and annual inflation exceeding 10%. Japan has concern about those macroeconomic 
instabilities which might be obstacles to foreign investment. 
4.45.  Now let me move to trade and trade related policies. We have two points here: the WTO 
and regional trade and investment agreements. 
4.46.  First, the WTO. Japan commends that Ghana is likely to implement the WTO agreement 
actively utilizing technical assistance, for example, seminars by the WTO Secretariat. Japan also commends that Ghana takes part in the DDA negotiations as a member of ACP group, Africa 
group, and G90. We hope for Ghana's future participation in plurilateral frameworks, such as ITA. 
4.47.  Second, regional trade and investment agreements. Japan commends Ghana's policies to 
promote trade liberalization and economic inte gration through ECOWAS and EPA with the EU and 
s o  f o r t h .  I n  a d d i t i o n ,  J a p a n e s e  P r i m e  M i n i s t e r  S h i n z o  A b e  a n d  H . E .  M r  J o h n  D r a m a n i  M a h a m a ,  
President of the Republic of Ghana, confirmed in  May 2013 the launch of official negotiations for 
the signing of an investment treaty, and both countries held the first negotiation meeting in Accra 
in April 2014. Japan would like to cooperate with Ghana toward an early conclusion of the 
negotiation and hopes that these efforts by Ghana will make steady progress and will complement the multilateral trading system. 
4.48.  Now, let me turn to specific points. We will refer to two points: trade facilitation and 
investment. 
4.49.  First, trade facilitation. Japan appreciates Ghana's efforts for trade facilitation, including 
improvement of transit procedures, and plans to es tablish a one-stop border post. Japan hopes to 
see Ghana's further efforts in this area, for example, expeditious customs procedures, with support 
and assistance for capacity building along Section 2 of the Agreement on Trade Facilitation. In respect of notification to be submitted by end of July this year, Japan encourages Ghana to notify 
all provisions that have been implemented and as many provisions of the TF Agreement under 
Category A as possible. 
4.50.  Second, investment. Although the Ghanaian investment environment is generally good, 
Japan has concern about domestic measures which might be obstacles to foreign investment, in 
addition to the instabilities as I mentioned. Japan also has concern about the Ghana Investment 
Promotion Center Act of 2013, which substantiall y raised the minimum capital investments that 
must be made by foreign companies and increa sed the minimum number of Ghanaian employees 
when the foreign companies are mainly involved in the purchasing and selling of goods. 
4.51.  Furthermore, it is reported that investment ac tivities by foreign companies are affected by 
foreign currency restriction which obliges all domestic commercial transaction in Ghanaian cedi, 
local content regulations in the sector of petrol eum development, and administrative procedures 
requiring too much cost and time. Japan requests the Ghanaian Government to address these problems. 
CHINA 
4.52.  We note that Ghana generally maintained a st rong positive average annual growth of more 
than 8% during the period under review. This growth is mainly attributed to its stable macroeconomic environment as well as vigorous external demand for its competitive products. 
However, we have to admit that many challenges remain to be resolved for Ghana to fully exploit 
its growth potential, such as the need to di versify its economy and exports, reduce foreign 
investment barriers, tighten monetary and fiscal policies and reduce the inequality problem. We 
encourage Ghana to further improve its business climate through concrete measures, such as 
simplifying clearance procedures, undertaking FDI reforms and improving transparency in 
particular. We also call upon other WTO Members to provide necessary assistance in this regard to facilitate its domestic action.  WT/TPR/M/298 • Ghana 
 
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  4.53.  On the bilateral front, China and Ghana enjoy ve ry close economic ties. It is notable in the 
Secretariat's Report that for Ghana, which I quote "China has not emerged as a significant market for primary commodity exports". We would like to state that China is willing to develop a comprehensive trade and investment relationship with all Members and seek to import various 
products which they could provide. As the largest trading partner of Africa, China will continue to 
assist our African countries including Ghana to help diversify their exports. As announced by China's Premier LI Keqiang, who just finished his four-country tour to Africa earlier this month, 
China commits itself to cooperate with Africa countries through concrete measures in a wide range 
of areas, such as infrastructure, agriculture, de velopment and research, poverty reduction. We are 
fully confident that Ghana will also bene fit from this mutual-win cooperation. 
4.54.  On the multilateral front, China commends the positive role of Ghana in the multilateral 
trading system and the Doha round by aligning its position with the African Group and the ACP 
countries. China shares with those Groups that the successful conclusion of the Doha Round must deliver opportunities to all Members and the smallest, weakest and most vulnerable economies in 
particular. China looks forward to cooperating with Ghana in the next few months for a detailed 
and balanced work program and eventually a successful conclusion of the whole Round. 
BRAZIL 
4.55.  The Ghanaian economy has consistently grown since the country's last review in 2008, 
reaching impressive rates, except for 2009, when it was affected by the global economic crisis. More important than that, the country managed to  climb in the Human Development Index, based 
on policies that brought about improvements in terms of access to education and health.  
4.56.  We commend Ghana for the stability of its institutions, as well as for the laudable efforts of 
its authorities to reduce poverty. 
4.57.  International trade has been an important factor in Ghana's economic performance. From 
2008 to 2012, the country's trade flows increased 165%.  
4.58.  Bilateral trade with Brazil has also seen steady growth during this period, again with the 
notable exception of 2009, but, despite this upward trend, it is still below its potential level. 
4.59.  Economic and trade relations between our two co untries go beyond the exchange of goods. 
Ghana is an important destination for Foreign Di rect Investment, and Brazilian enterprises are a 
dynamic presence there. In construction services, five of our biggest Brazilian companies have offices in Ghana, actively participating in the main initiatives to build and modernize the country's 
infrastructure. 
4.60.  Agricultural cooperation deserves a special focus. Ghana is hosting the first international 
office of Brazil's Agricultural Research Company,  EMBRAPA. Ghana figures also as one of the very 
first participants in Brazil's Food Security prog ram for Africa, including lines of credit for the 
purchase of agricultural machinery for small-scale farmers, which, in the case of Ghana, comprise 
the vast majority of the rural units and are respon sible for more than 80% of the country's overall 
production. 
4.61.  Even though several aspects of Ghana's economy, as highlighted in this review, are 
praiseworthy, the path to sustainable development is  full of challenges. In our WTO setting, this 
includes the respect of multilaterally agreed rules, an area in which my country is pleased to 
support the Ghanaian Government. As an exam ple, EMBRAPA is currently working on the 
organization of an initiative to help local poultry producers to increase their domestic market share, an established priority in the country. 
4.62.  Equally challenging is the implementation of the trading rules agreed by Ghana in the 
context of its regional integration. The conso lidation of the common policies among members of 
the Economic Community of West African States would certainly result in an increase in the inflow 
of investments, mainly due to the enlargement of the regional market. 
4.63.  Finally, Brazil would like to express its satisfaction with the recent initiative by Ghana to 
update its SPS regulations. We emphasize the im portance we assign to this subject and urge WT/TPR/M/298 • Ghana 
 
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  Ghanaian authorities to keep adopting rules that are science-based and in line with international 
standards. 
EUROPEAN  UNION 
4.64.  Since the last Ghana TPR in 2008, Ghana has pursued a growth strategy that has led to 
impressive improvements in Ghana's economy nota bly when looking at income per capita or the 
Human Development Index. Various factors have contributed to this positive trend such as the development of the energy sector, a more efficien t agricultural production which has developed at 
a higher growth rate than the population.  
4.65.  Ghana has also strengthened its role in the region on many aspects including regarding the 
promotion of peace, security, and stability. The EU  encourages Ghana, as current Chairman of the 
Economic Community of the West African States–ECOWAS, to consolidate regional integration by 
lowering further the barriers to the free move ment of goods and services in the region. 
4.66.  The EU is Ghana's most important trade partner. We are building a trade partnership 
providing a solid, stable and transparent framework for increased trade and investment.  
4.67.  EU-Ghana cooperation is vast and goes beyond trade. It also addresses governance issues, 
security, and sustainable development to name bu t a few. EU development assistance to Ghana 
amounted to almost €500 million over the period 2008-13.  
4.68.  The Secretariat reports that Ghana is faced with an inflation rate of over 10% and 
simultaneously with substantial current account and budget deficits. The EU firmly encourages Ghana to adopt the necessary measures to address these serious macroeconomic imbalances. 
4.69.  In its advanced written questions, the EU in particular stressed a number of issues such as: 
- The need to review the negative impact of th e current foreign exchange controls on trade 
 and investment; 
- The importance to adopt an adequate competition policy that would contribute to 
 diversifying the economy and also bring benefits to consumers; 
- The importance to address the difficult situation of the fisheries sector; and  
- illegal fishing. 
4.70.  The EU would very much welcome clarification regarding the Government's intention to 
impose local content requirements on the whole ener gy sector and the impact this may have on its 
further development.  
4.71.  To conclude, the EU very much shares the Secretariat's views that Ghana's potential is high 
and that if "the right reforms were adopted", th e benefits would be huge. We fully endorse the 
Secretariat's assessment: "Among the promising sectors are agri-food processing, down-stream oil, gas, and minerals processing, as well as the energy and mining-related services subsectors. 
Prospects would be enhanced if the authorities und ertook to tighten monetary and fiscal policies, 
and overhaul the import system. The responsiveness  of certain activities of the Ghanaian economy 
to appropriate reforms suggests that other sectors could perform particularly well if the right 
policies were put in place". 
4.72.  Therefore, the EU strongly hopes that this exercise will help Ghana define its policy 
orientations and measures that the Secretariat refers  to in order to help Ghana reach its potential. 
CANADA 
4.73.  Canada commends Ghana for its past twenty years of providing peace and security and 
broad economic growth for its citizenry. It has established a vibrant democracy and made significant progress in reducing poverty and providing a positive business environment. Certainly 
in more recent years, robust gold and cocoa pric es and the discovery of oil and gas have provided WT/TPR/M/298 • Ghana 
 
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  a solid platform for growth. Foreign direct investors view the country as a location providing 
relative stability, predictability and growth an d a good base for regional and continent-wide 
operations. In fact, 47 Canadian firms in the extractive industries sector have offices in Ghana. Canada has identified Ghana as a priority "emerging market with specific opportunities for 
Canadian business" in its new Global Markets Action Plan. 
4.74.  However, in the spirit of engaging constructively, I would like to outline five key concerns. 
4.75.  First, in the aftermath of the elections of December 2012, large fiscal and external 
imbalances have threatened the picture of stability I have painted. There is no question that there 
have been economic repercussions from declining gold and cocoa prices, challenges in landing gas from the offshore fields, and modest oil output. We have seen a trend of a decline in growth in Ghana, from 15% in 2011 to an estimated 5.5% in 2013 and projected growth of 4.8% in 2014, 
according to the IMF. In the context of a booming Africa, where Ghana was at the forefront, this is 
troubling. 
4.76.  Second, there is no doubt that Ghana's short term economic prospects are vulnerable to 
many risks – and this is reflected in the 4.8% pr ojected growth rate for 2014. At present, short 
term interest rates for small and medium businesses are at 30%; combined with a weakening currency, the private sector has struggled. We encourage a more developed equity and debt 
market to help businesses find genuine economic solutions, rather than looking to bank financing 
at current high rates. Ghana's debt and current bu dget deficit leave it vulnerable to a deterioration 
of its fiscal leverage, which is reflected in rece nt assessments by Standard & Poor's, Fitch's and 
Moody's bond ratings agencies, all of which show Ghana in the B range with a negative outlook. 
4.77.  Third, we note that the IMF in its recent Article IV consultations supported Ghana's fiscal 
measures in its 2014 budget, but noted that achievin g the deficit target will be challenging in view 
of high interest rates, depreciating currency and slow growth. We endorse calls for more 
rationalized public spending, a lower public sector wage bill, restructuring statutory funds and 
enhancement of revenue mobilization and tax admi nistration. We also encourage more effective 
governance both in the private sector and in Government. We support the IMF call on Ghana "to 
translate these policy commitments quickly into specific, time-bound action plans". 
4.78.  Fourth, Canada encourages the promotion of Foreign Direct Investment and the free flow of 
imports and exports as an important element of ef forts towards economic growth and job creation. 
Unfortunately, the inflow of Foreign Direct Invest ment fell in 2013 by over US$1 billion or almost 
20% over the previous year, an amount nearly equal to all Official Donor Assistance. This does not 
auger well for job creation. While calls for increased local content are to be expected in the context of a struggling economy, there is concern policies such as the Ghana Investment Promotion Centre 
Bill of 2013 or the Petroleum Bill awaiting offi cial approval tend towards the restrictive. The 
pending Mining Bill seems also to be leaning in that direction. Individually, these measures may not be of significant concern, but taken together and combined with legal changes aimed at import 
substitution and outright import restrictions, it appears to us that protectionism is on the rise. 
Time and time again, we have seen that protectionism does not contribute to sustained economic growth. We urge Ghana to resist protectionism in its efforts to stimulate its economy. 
4.79.  Lastly, we would like to see a more positive climate established to support the domestic 
private sector as well as foreign investors. We regret to say that Canadian companies find both 
establishing and doing business in Ghana increasingly difficult and frustrating. Canada believes that the timely conclusion of a Canada-Ghana bilateral investment treaty that provides a high level 
of investment protection and predictability would increase the confidence of investors and 
strengthen the growing economic relationship between our two countries. 
4.80.  Canada is proud to say that it has been an aid donor to Ghana for almost 60 years since its 
independence. We want to work together towards the day when our relations emphasize trade and 
investment as equals, not as donor and recipient. Canadians understand the benefits of free trade, and we see the benefits of a more open trading system in our daily lives. Canada endorses eliminating barriers to trade as an engine of economic growth, and Canadians are eager to invest 
and do business with Ghana. We urge Ghana to op en your doors to the opportunity we and others 
offer to you. WT/TPR/M/298 • Ghana 
 
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  THAILAND 
4.81.  Thailand commends Ghana on its effort in developing the economic environment, especially 
the business environment in order to attract foreign investments, the improvement of transit systems, and the export promotion schemes. We believ e that all of these efforts will lead Ghana in 
the right direction for further economic and trade developments. As a country with an emphasis on 
agriculture, Thailand considers Ghana's recent agricultural policy, such as giving priorities in modernizing agriculture, enhancing natural resource management, and improving productivity, a 
great example for other developing agriculture countr ies to follow. We support all of the efforts by 
the Government so as to continue diversifying its market in order to reduce the vulnerability of depending only on the main sectors of oil, gold and cocoa. 
4.82.  On a bilateral term basis, Ghana is Thailand's seventh largest trading partner in the African 
continent. During 2011-13, bilateral trade betwee n Thailand and Ghana decreased and the total 
trade value averaged at US$344 million. Thailand co nsiders Ghana an important market in Africa 
as the Ministry of Commerce has a trade promotion office in Accra, and we do hope that our total 
trade will improve as Ghana is more integrated into the global trading system. 
4.83.  At this Trade Policy Review, Thailand submitted several questions to the delegation of Ghana 
on, among others, the 2013 Ghana Investment Promotion Centre Act especially on the capital 
investment requirements, the model land lease ag reements for agricultural purposes, and the New 
Industrial policy. We thank the delegation of Ghan a for the response and will study it carefully. 
BENIN 4.84.  The Trade Policy Review of Ghana is highly  important for all the ECOWAS member States, 
including Benin, insofar as Ghana's economic health and trade performance contribute to the 
viability of the regional integration process in West Africa. 
4.85.  Ghana has had good practice of the multilateral trading system as a party to the General 
Agreement on Tariffs and Trade (GATT) since Oc tober 1957 and then a founding Member of the 
World Trade Organization (WTO) in 1995. This experience is an asset for all the ECOWAS member States. 
4.86.  The delegation of Benin commends the Ghanaian authorities for their efforts, welcomes the 
progress made and results achieved since the previous Trade Policy Review, and takes this opportunity to wish the authorities and peop le of Ghana every success in their ambitious 
endeavours to pursue the reforms already under way. 
4.87.  More specifically, steps have been taken to ensure extensive reform and place the Ghanaian 
economy on a sound footing. Thanks to the se rvices and industry sectors, the economy has 
registered growth in excess of 7% since 2007, ev en reaching the exceptional rate of 15% in 2011 
as a result of the commencement of oil production, which, however, has been adversely affected 
since then by weakening commodity prices in the international market and domestic energy crises. 
4.88.  We would also like to commend the actions undertaken in the area of budgetary policy to 
guarantee accelerated growth and development for Ghana, particularly through greater efficiency 
in tax and expenditure administration and fisca l prudence to ensure debt sustainability. 
4.89.  Regarding monetary and financial policy, the period under review showed the measures 
taken by the Ghanaian authorities to manage inflation, interest and exchange rates, and the 
country's external and internal debt. 
4.90.  In order to turn trade into an actual lever for wealth and development creation, a 
comprehensive trade policy has been implemented, with clear strategic orientations covering 
seven areas which include increasing productive capacity and trade facilitation. 
4.91.  In addition, a new industrial policy buildin g on the achievements of the Trade Sector 
Support Programme (TSSP) implemented from 2006 to 2010 was formulated and launched in June 
2011. Its main objective is to promote greater competitiveness and higher industrial production, 
on the basis, inter alia, of the Industrial Sector Support Programme (ISSP) and a National Export WT/TPR/M/298 • Ghana 
 
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  Strategy (NES), together with its implementa tion arm, the National Export Development 
Programme (NEDP). 
4.92.  Ghana's efforts will not be able to yield all the desired results unless they are accompanied 
by efficient and substantial support from the development partners. 
4.93.  This is why the delegation of Benin would like to highlight the need for Ghana to receive the 
technical assistance it requires to become  better integrated in the world economy. 
TOGO 
4.94.  I wish to congratulate the Minister for the statement that he has just delivered. This clear 
and concise statement has brought us up to date  on recent developments concerning economic 
and trade reforms in Ghana. It gives us an idea of the efforts made by the Ghanaian authorities to further the country's development and enhance its integration in the global economy. 
4.95.   I commend and thank Her Excellency Ambassador Wibooniasama Ruamaraska, Permanent 
Representative of Thailand, for her brilliant presentation on Ghana's economic and trade policies. 
4.96.  I am grateful to the WTO Secretariat for the extensive documentation which has provided us 
with an insight into this important trade policy exercise. 
4.97.  Ghana and Togo are two sister nations destined by their history and geography to live 
together. The direct consequence of this geographical proximity is that their very close trade 
cooperation is growing even stronger, as recent statistics clearly show. In effect, Ghana is Togo's 
second largest trading partner with more than CFAF  18 billion, i.e. nearly 14% of total exports. In 
terms of imports, Ghana is the fifth biggest supplie r to Togo with more than CFAF 14 million, i.e. 
nearly 4% of total imports. 
4.98.  I am therefore delighted that Ghana reaffirms its commitment to regional integration in its 
Report. This commitment is evidenced in its enga gement in favour, on the one hand, of the free 
movement of persons, shown by the abolition of entry and residence visas for citizens from the 
Economic Community of West African States (ECOWAS)   to which our two countries belong   and, 
on the other hand, its engagement in fa vour of the free movement of goods. 
4.99.  These measures, which are driven by community  logic, can only boost trade between our 
two countries for the good of our peoples at a time when inter African trade is becoming a major 
issue as the economic situation obliges African countries to work together. 
4.100.  My delegation shares Ghana's commitment to moving ECOWAS towards a customs union 
that embodies a common ideal of the member States, and hopes to see accelerated steps towards 
the harmonization of the tariff structures of Anglophone countries with the common external tariff 
applied by francophone Members of the West Af rican Economic and Monetary Union (WAEMU). 
4.101.  My delegation notes with satisfaction the growth recorded in the past few years by the 
Ghanaian economy, boosted by the commencement of crude oil production. 
4.102.  This growth has enabled Ghana's transition from a low income economy to that of a lower 
middle income economy, an important step on the path to development. 
4.103.  However, overdependence on crude oil makes the country vulnerable to external shocks. 
4.104.  Furthermore, my delegation welcomes Ghana's new industrial policy, introduced in June 
2011, which aims to promote greater competitiveness and higher industrial production. This policy 
deserves to be commended because all the economic studies have shown that industrialization is 
an engine for development in Africa. This is also precisely what the United Nations Economic 
Commission for Africa recommends in its 2014 report. 
4.105.  This policy is also the panacea for the overdependence of African countries on 
commodities, whose volatile prices on the international market harm our economies. WT/TPR/M/298 • Ghana 
 
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  4.106.  My delegation would also like to share in Ghana's enthusiasm for the idea of development 
oriented results that the Doha Round could produce if the negotiations gain momentum because, let us not forget, this development round has the potential to reduce the gap between developed countries, developing countries and least developed countries. 
MALAYSIA 
4.107.  Malaysia commends Ghana for the strong economic growth since its last Trade Policy 
Review in 2008, due to its good governance practise and policy reform. 
4.108.  Malaysia regards Ghana as a firm supporter of the multilateral trading system, and an 
excellent model of what a developing country is capable of doing in the fight against poverty. This is reflected by the impressive improvement in Ghana's income per capita. 
4.109.  Malaysia acknowledges Ghana's continuous effort in creating an open trade and investment 
climate. Since its last TPR, Ghana had modified several features of its transit system, resulting 
nearly double transit flows. Although much is still required to improve trading across border, it certainly shows that Ghana is committed to improving its trade facilitation measures which in turn 
would contribute towards Ghana's economic growth. 
4.110.  Ghana is Malaysia's 8
th largest trading partner in the African region. Malaysia's main 
exports to Ghana are palm oil, machinery, app liances and parts, processed food, chemical and 
chemical products, and beverages and tobacco, with a total value of US$145.8 million in 2013. 
Meanwhile, Ghana exported cocoa beans, vegetable oil, processed food, iron and steel products 
and crude rubber to Malaysia, worth US$138.9 million. 
4.111.  We acknowledge Ghana's effort in promoting exports of non-traditional products to 
diversify its export base. 
4.112.  Malaysia looks forward to stronger economic ties with Ghana. Malaysia will continue to 
explore investment opportunities in Ghana, particularly in financial and transport services, 
property development, electronics and apparel, agro and seafood processing, furniture and wood 
processing, and also in the tourism sector. 
CÔTE  D'IVOIRE 
4.113.  Ghana and Côte d'Ivoire share a common destiny and are linked geographically; we share 
a border, which explains in large part the similarities between our two countries and peoples, including the cultural similarities both sides of the border which give rise to a vast amount of cross border trading. 
4.114.  At a formal economic level, Ghana and Côte d'Ivoire are both members of several 
international and regional organizations such as ECOWAS and the International Cocoa Organization; our countries have also, owing to shared economic concerns, signed with the 
European Union an Interim Economic Partnership Agreement which will be replaced in the long 
term by the agreement currently being negotiated between ECOWAS and the EU. 
4.115.  For the above reasons, Côte d'Ivoire we lcomes Ghana's ongoing development, the 
country's remarkable economic progress and its positive impact on our populations. 
4.116.  In this connection, Ghana's bringing of its trade practices and its legal texts concerning its 
economic development into conformity with the ru les and principles of the multilateral trading 
system overseen by the WTO can only contribute to strengthening and further facilitating trade 
between the two countries. 
4.117.  We therefore consider this exercise in transparency and predictability to be important for 
Côte d'Ivoire. WT/TPR/M/298 • Ghana 
 
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  INDIA 
4.118.  The political and economic relations between India and Ghana have traditionally been 
warm and friendly. The relationship owes his strength and vigour to the strong foundation laid by India's first Prime Minister Pt. Jawaharlal Nehr u and Ghana's first President Dr Kwame Nkrumah. 
Ghana is an important partner of the initiative launched by India in 2004 called as 
Techno-Economic Approach for Africa-India Movement (TEAM-9). The TEAM-9 initiative is aimed at engaging with the resource rich West African countries which require low cost technology and 
investments to develop their infrastructure. In recent years, India-Ghana relations have been 
enriched by enhanced South-South cooperation efforts between the two countries. 
4.119.  India has been participating in Ghana's develo pment by providing assistance in setting up 
projects through provision of lines of credit and gr ants. So far, India has extended lines of credit 
amounting to US$228.73 million to the Government of Ghana for various developmental projects 
being undertaken by the latter.  
4.120.  Some of the projects have been completed by quite a few are in various stages of 
implementation. Amongst the recent projects are the India-Ghana Kofi Annan Centre of Excellence 
for ICT; the Flag Staff House; the Pan African E-Network Project and Rural Electrification Project. Other projects which are in the pipeline are in diverse sectors, inter alia , fisheries, waste 
management, railway equipment, ag ro-processing, fire-tenders, etc. 
4.121.  The bilateral trade between India and Ghana has seen a steady increase over the years. 
For the period between 2010-11 and 2012-13, the trade saw a jump from US$700 million to US$1 billion. The trade balance is in favour of India. While Ghana traditionally exports gold, cocoa 
and timber products to India, Indian major exports to Ghana include pharmaceuticals, 
telecommunication, agricultural machinery, electrical equipment, plastics, steel, cement, etc. 
4.122.  We are glad that the economy of Ghana has grown consistently since 2007 with almost 7% 
growth rate driven mainly by service and industri al sectors. Despite the stagnation in the economy 
since 2011 on account of the weak international co mmodity prices and energy crisis at home, we 
are glad that Ghana has maintained its commitment for fiscal prudence and macroeconomic 
stability. As a fellow developing country facing similar development challenges, India shares 
common position with Ghana on several developmental issues including agriculture, services and NAMA and both are convinced that the Doha Round  is a development round which early conclusion 
is of utmost importance to reduce imbalance. We appreciate the progress Ghana has achieved on 
account of the successful implementation of th e trade sector and support programme and hope 
that the new industrial policy, the industrial sector support programme and the national export strategy for non-traditional exports succeed in ensuring consistent and inclusive economic growth 
for Ghana. India also hopes that this Trade Policy Review would further help Ghana to improve its 
business environment and is sure that the commitments it had made are respected. 
4.123.  Finally, let me congratulate Ghana for its commitment to ensure growth despite several 
impediments and conclude by wishing its delegation a successful Trade Policy Review. 
KENYA
 ON BEHALF  OF THE ACP GROUP 
4.124.  We have studied the Trade Policy Review Reports prepared by both the WTO Secretariat 
and the Government of Ghana and accordingly wishes to make the following comments and 
observations: 
 On economic performance we have noted that Ghana's economy has registered an 
 impressive growth of above 7% since 2007, dr iven mainly by the services and industrial 
 sectors. With the commencement of crude oil production, this growth has soared to 15% in 
 2011. Well done Ghana and we wish you well in sustaining this growth despite the  challenges being encountered from weakening commodity prices at the international market 
 and the energy crisis at home.  
 Regarding trade policy instruments: it is noted that a tariff continues to be the main policy 
 instrument of intervention structured on a scale of zero, 5%, 10% and 20% respectively and WT/TPR/M/298 • Ghana 
 
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   effort is being made to align it to the regional trade arrangement the Economic Community 
 of West African States (ECOWAS).  
 On border procedures: notable reforms have undertaken since the last Trade Policy Review 
 and as a result transit flows have nearly doubled, demonstrating clearly that traders respond 
 rapidly and favourably to appropriate trade me asures put in place. We encourage Ghana to 
 continue undertaking further reforms which can contribute to the realization of a higher  quantum of intra-African trade.  
 On investment climate: efforts have been made by the Government to improve the domestic 
 environment for investment particularly in the areas of the information and  telecommunication technology (ICT), as well as the road network is commendable and if  sustained for a good while, they are like ly to bring down the cost doing business 
 significantly.  
 Regarding agricultural sector: like most ACP States, the sector continues to play a 
 pivotal role in the country's poverty reduction strategy owing to its labour intensity, food 
 security, and major supplier of inputs to the local industry. Underpinned by the right policy 
 mix since 2007, sizeable growth has been registered particularly with cocoa production that  generates exports worth US$2 billion annually leading to increased farm incomes. It is also 
 worth noting that Ghana has also met NEPAD's objective of allocating 10% of government 
 expenditure to its agriculture and accordingly food output has grown much faster than its  population. 
 On mining: it is noted that gold production is the lead activity in this sector with exports 
 valued US$5 billion in 2012, nearly three times the revenue realized in 2007 with 
 small-scale mining industry employing more than 500,000 people. 
4.125.  In conclusion, we have observed that despite some internal and external challenges 
experienced, the Ghanaian economy continues to do relatively well with gold, crude oil and 
unprocessed cocoa making significant contributions to its GDP. We congratulate the Government of Ghana for the economic policy reforms initiated to accelerate the growth of its economy. 
MALI 
4.126.  My delegation would like to thank and congratu late the Ghanaian authorities for their clear 
and precise Report. We commend Ghana's efforts to carry out reforms, which have yielded the remarkable results presented here in the areas of economic growth and poverty reduction. We also 
welcome the efforts in the area of governance which have led to the achievement of these 
outcomes. 
4.127.  Mali and Ghana have enjoyed excellent political, economic and trade relations for a long 
time and we belong to the same economic area as Ghana. This shows just how important this 
country is to us in the West African subregion. 
4.128.  My delegation would like to encourage Ghana to continue with the courageous reforms it 
has undertaken and to play an even bigger role in the efforts for subregional economic integration 
under ECOWAS and intra African trade. 
URUGUAY 4.129.  Uruguay welcomes the progress that Ghana has made in the last few years and is aware of 
the challenges that still lie ahead, as stated in the Report circulated by the Secretariat. 
4.130.  With respect to the bilateral trade plan, it is important to highlight that during the period 
from January 2010 to April 2014, Uruguay's main exports to the Ghanaian market included frozen 
fish, insecticides, rodenticides, fungicides, agricultural and horticultural machinery for soil 
preparation, lawn rollers, acrylic polymers in primary forms, and guts, bladders and stomachs of animals (other than fish, whole or in pieces, fresh, frozen, or salted). Uruguayan imports from 
Ghana consisted chiefly of frozen fish, fixed ve getable fats and oils and their fractions (not WT/TPR/M/298 • Ghana 
 
- 23 - 
 
  chemically modified), cocoa paste, cocoa butter, cocoa fat and oil, and wood (sawn or chipped 
lengthwise, sliced or peeled). 
4.131.  In numerical terms, revenue from Uruguayan exports to Ghana during the review period 
was US$12,031,340, while imports from Ghana to Uruguay amounted to US$3,328,722. These 
figures may seem small but we believe that there is room to increase our bilateral trade. 
4.132.  Therefore, as stated in the 2013 Montevideo Declaration issued at the Seventh Ministerial 
Meeting of the Zone of Peace and Cooperation of the South Atlantic held in Montevideo last year, a 
group to which both our countries belong, it is Uruguay's intention to strengthen and increase ties 
in the relevant spheres. 
4.133.  At the WTO level, we share with Ghana the strong conviction that the successful conclusion 
of the Doha Round will bolster the multilateral system since it will promote important reforms in 
key sectors of our economies such as agriculture, as well as furthering development in various 
areas. 
4.134.  We accordingly express renewed commitment to working with Ghana and all WTO 
Members in order to make sure that the Doha Round has a successful outcome. 
H.E. MR  HARUNA  IDDRISU 
4.135.  Mrs Chairperson, once again let me thank you for the able manner you chair this Trade 
Policy Review. In particular, I note the very constructive comments and suggestions to improve 
Ghana's overall macroeconomic policy regime, improve the local-content administration and the requirement on investment capital under the revised GIPC Act. 
4.136.  I take note of the comments and we will make appropriate responses to the outstanding 
issues. We also accept the challenge to deal with short term challenges of fiscal and budget deficit 
and we will continue sectoral interventions that will deepen the development of our country. I am encouraged by some of the positive comments ab out the outlook and prospects of the Ghanaian 
economy.  
CHAIRPERSON 4.137.  Members applauded the improvements carried out by Ghana in its trade and investment 
regime and reforms that have resulted in foreign direct investment since the last Review. Members 
complimented Ghana's success in halving the level of  extreme poverty. A special emphasis on the 
rule of woman in the economy received a special mention. 
4.138.  However, I have highlighted several issues that need special attention to ensure the 
sustainable development of Ghana: need for di versification, fiscal reforms, macroeconomic 
stability, new foreign exchange restrictions, better transparency and governance in various sectors. Members also raised the issue of lo cal-contents requirements and other measures 
affecting imports and exports. WT/TPR/M/298 • Ghana 
 
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  5  REPLIES BY THE REPRESENTATIVE OF  GHANA AND ADDITIONAL COMMENTS 
5.1.  I wish on behalf of the Government of the Republic of Ghana, to thank Members, particularly 
the Chair of the Trade Policy Review Body, H.E. Ambassador Mariam MD Salleh and the discussant, 
H.E. Ambassador Wilboonlasana Ruamraksa as we  bring the fourth Ghana Trade Policy Review 
sessions to conclusion. In all, 150 written questions were received from 13 Members and 19 
Members also took the floor on Monday to comment on various issues. This is a demonstration of the interest Members have in the trade and econom ic policies of Ghana. My profound gratitude 
goes to all Members for their constructive engagement and criticism. We consider the questions 
and comments as both challenges and opportunities. 
Economic Environment 5.2.  A s  I  s h a r e d  w i t h  y o u  i n  m y  o p e n i n g  r e m a rks, we have taken a number of steps and 
interventions to stabilize our national economy and to ensure a prudent management. The four 
major thematic areas of our national development agenda focus on macroeconomic stability and, in particular, with sustenance of GDP growth as core; the investment of infrastructure to support 
private sector to be able to develop; emphasis on human development with investment in 
education and health; and a transparent and accountable governance. 
5.3.  We acknowledge with encouragement the recognition and commendation of some of our 
initiatives and interventions. At the just concluded National Economic Forum, we looked at a 
number of issues after which we declared a 22-point Senchi Consensus to address the short-, medium- and long-term challenges of the national economy and overall socio-economic development. One of the recommendations made at the forum was for the Government to broaden 
the tax base, improve the efficiency of tax collection as well as work towards reducing high taxes 
which have become a disincentive to private se ctor development. The promotion and development 
of the private sector is paramount. 
5.4.  The concerns of Members on the recent foreig n exchange measures by the Bank of Ghana 
were also addressed at the forum. The central bank was tasked to review and take speedy and 
appropriate action to restore confidence and remedy the unintended consequences of the policy 
measures. 
5.5.  Furthermore, consideration was to be given to  the amendment of the Bank of Ghana Act to 
set a ceiling on its lending to Government that is based on Government's revenue collection in the previous year rather than the current year as is currently the case. This is to be separated from 
the ceiling on total net domestic borrowing by the Government.  
5.6.  On our over reliance on three export commoditi es: cocoa, gold, and oil, we are working at 
diversification of exports. The key principle of our manufacturing and export diversification policies 
is value addition. The Government would take steps to revamp the manufacturing and agriculture 
sectors to encourage domestic production and achi eve the national strategy goal of increasing 
non-traditional export earning from the current US$2.5 billion to US$5 billion in 2017 as outlined 
in the recently launched National Export Strategy.  
Minimum Capital in the New GIPC Act 5.7.  The GIPC Act was revised to improve the investment landscape in Ghana, attract FDIs and 
stimulate local investment. The new minimum capital requirement indicated in the new Act is 
reasonable enough to attract serious foreign inve stors into Ghana. However, the concerns raised 
by Members have been noted and would be addressed. 
Energy and mining 
5.8.  On the rationale for local content and local participation in oil and gas industry, the intention 
of Government is to optimize the use of local expertise, goods and services in order to create jobs. As a response to Members' concern, it is worthy to note that where skilled labour is not available, 
this requirement may be waived. However, the Gove rnment may review these sections with a view 
to determining their compliance with the GATT/TR IMS and take the necessary steps to address 
them.  WT/TPR/M/298 • Ghana 
 
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  5.9.  Small scale mining is legally reserved for Ghanaians but there have been some abuses where 
foreign companies request Ghanaians to front for them. 
Trade Policies and Practices by Measure Consultation with the private sector 
5.10.  With regard to consultation of the private sector in the legislative processes, it has been the 
policy of the Government to consult with the private sector for their views and inputs before any policy or legislation is adopted. 
Notifications 
5.11.  This Trade Policy Review has helped Ghana to identify all the notifications that it has not 
submitted to the WTO. The lack of coordination between the Ministry of Trade and Industry and 
other Ministries, Departments and Agencies has almost been resolved. Consequently, the Ministry 
of Trade and Industry has now strengthened its collaboration with other Ministries, Departments 
and Agencies and would ensure that it fulfilled its outstanding and subsequent notification obligations, after the Trade Policy Review, at the shortest possible time.  
Tax exemptions 
5.12.  Questions have been raised on numerous tax exemptions based on the Secretariat Report. 
In response to these concerns, I wish to convey to Members that the Government is 
comprehensively reviewing the tax exemption regime with the view to eliminate some, prevent 
abuses which led to revenue leakages and streamline the procedure for granting exemptions. The initiative to increase the number of bound tariffs would also be undertaken in the Doha Round Negotiations. 
Trade facilitation 
5.13.  The need for rationalization and possible joint inspections by port agencies was raised by 
Members. We have indicated in our responses that simultaneous inspections are conducted by all 
entities at one single place in the ports. It is only upon receipt of intelligence reports that a second 
examination is carried out. The National Trade Facilitation Committee, as part of its overall mandate is reviewing the clearance procedures with a view to putting in place measures to fast 
track goods clearance at the ports. It would also fast track the implementation of the TFA and 
other post-Bali issues. Meanwhile more state-of-the–arts non-intrusive cargo scanning equipment would be deployed at the various ports by end of the year.  
5.14.  In furtherance of the electronic data interchange (EDI) system introduced in 2003, all 
permit issuing agencies which are not currently  hooked to the GCNet platform have been 
requested to do so. All these are to ensure that time and transaction cost of clearance of goods are reduced. Our ultimate aim is to reach a paperless clearance of goods procedure. 
5.15.  To further reduce the overall cost of doing bu siness in Ghana, a one-stop shop has been set 
up by the Ghana Investment Promotion Centre for the registration of businesses and to deal with other requirements for establishment. 
Government Procurement Agreement  
5.16.  Government may initially consider becoming an observer to the Government Procurement 
Agreement and would consult with stakeholders on the possibility of joining. 
Enforcement of IPRs 
5.17.  As stated in my presentation, the colloquiums on IPR for Judges have enhanced the 
enforcement of intellectual property rights. Consequently, the Government has decided to make the training a regular feature and also extend it to other law enforcement agencies. WT/TPR/M/298 • Ghana 
 
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  Competition policy and law 
5.18.  To protect consumers and minimize the rise of cartels, Ghana is developing its competition 
policy and law with assistance from the Swiss Government and the UNCTAD until the ECOWAS 
competition policy and law are enacted. In addition to this, arrangements are far in advance to put 
in place a consumer protection policy and enact the accompanying framework law.  
Sectoral Policies  Animal products 
5.19.  A number of Members have expressed concern in the applicable trade legislation, such as 
permits and policy to develop poultry production based on the Secretariat Report. To attract investors in the poultry sector, Ghana is creating the space for local producers in the broiler and layer production. With tax waivers on importation of feed/feed ingredients and some poultry 
equipment, it is expected that investors would take advantage and invest in infrastructure. I wish 
to take this opportunity to allay fears of Members following a false publication that a ban has been placed on importation of certain poultry products and to assure you that no such decision has been 
taken by the Government.  
Fisheries 5.20.  To stem the decline in the fishing industry, Government has put in place structural plans to 
address weaknesses in the fisheries sector. Some of the measures are: 
 National Action Plan to combat illegal unregulated unreported fishing. 
 Promotion of aquaculture. 
 Provision of cold storage facilities. 
 Provision of utilities at some selected landing sites. 
5.21.  The Fisheries Act of 2002, Fisheries Regulation s 2010 (L.I. 1968), and the structure of the 
Fisheries Commission is under review to support the legal and functional reforms expected in the 
fisheries sector to deal with non-compliance. 
Services 5.22.  On services, the Government may review its commitments in GATS limitations in line with 
paid up capital in the provision of banking, telecom, and professional services, etc.  
5.23.  In conclusion, we are grateful for the interest shown in our country, evident in the 
numerous probing questions, both written and oral, which have helped us to clarify the trade and economic policy environment of Ghana. 
5.24.  We could not have completed our catalogue of appreciation without a special appreciation 
and gratitude to H.E. Ms Wiboonlasana Ruamraks a, Ambassador, Permanent Mission of Thailand, 
who graciously accepted to be the discussant and effectively anchored the deliberations, and to 
Madam Chairperson, H.E. Mrs Mariam MD Salleh, Ambassador, Permanent Mission of Malaysia, for 
the efficient and able manner she has conducted this review process to bring it to a successful conclusion. 
DISCUSSANT 
5.25.  I wish to thank H.E. Minister Haruna Iddrisu for his statement and comprehensive response 
to Members today. 
5.26.  Having listened to Members' views on Ghana on Monday, I regard Ghana as a potential 
strong economic force in sub-Saharan Africa. Members commended Ghana on its high economic WT/TPR/M/298 • Ghana 
 
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  growth rates at an average of 6.5% during 2007-13. During the same period, Ghana's foreign 
direct investment increased remarkably due to Gh ana's rich natural resources, especially oil and 
gas, along with Ghana's continuous improvemen t of the economic governance and reforms in 
trade and investment regimes. Members welcomed  Ghana's progressive reforms in the recent 
years.  
5.27.  Members also recognized Ghana's impressive work in the area of trade facilitation, and this 
positive reform is encouraged to be further advanced towards Ghana's implementation of the WTO 
Agreement on Trade Facilitation.  
5.28.  Nevertheless, several concerns have been ra ised throughout Members' written questions 
and the statements from the floor. One of these concerns is Ghana's expansionary fiscal and monetary policy, inflation, depreciation of the local currency, and budget deficits. Reading some of 
Ghana's responses and listening to H.E. Mr Iddr isu's statement, I welcome Ghana's intention to 
genuinely address this issue by an introduction of the expenditure rationalization measures and the medium-term fiscal measures to secure more macroeconomic stability. 
5.29.  Another point of concerns is Ghana's low tariff binding for industrial products, and Members 
encouraged Ghana to consider increasing the num ber of products to be bound. The improvement 
of binding more tariff lines for industrial products should help foster the trade regime of Ghana 
which is heading towards additional liberalization. This will also provide more room for Ghana in 
the post-Bali NAMA negotiations. 
5.30.  Regarding the current restrictions on foreign investment, such as Ghana's requirement for 
the minimum capital requirements and the requirements of local content and local participation in 
the oil and gas industry, I am pleased to hear th at H.E. Minister will be considering reviewing 
these measures. These restrictive measures can potentially obstruct more investment and the promising economic growth in the long run. By addressing these issues, Ghana will be able to 
benefit more from foreign investment. 
5.31.  As the current Chair of ECOWAS, Ghana should also take this opportunity to drive this 
regional integration forward in order to help further liberalize trade in the region and receive the 
maximum benefits from the regional trade. Ghana's role in the multilateral trading system in this 
Organization is also well received and supported by Members. 
5.32.  It has been an honour participating in this fourth Trade Policy Review of Ghana as the 
discussant. I applaud Ghana's economic reforms so far and believe that Ghana's next Trade Policy 
Review will demonstrate even more impressive developments. Ghana's economic potential has yet 
to be revealed under appropriate fiscal and trade policies. I would like to congratulate Ghana on this successful Trade Policy Review. I wish Ghana every success in its endeavours in the future and 
wish the delegation from Accra a safe journey home. 
UNITED
 STATES 
5.33.  The United States would like to thank the delegation from Ghana for its constructive 
participation and the preparation for this TPR. The United States has submitted to the Secretariat a 
few follow-up questions related to the EPA with the EU; intellectual property rights issues, including the specialized Commercial Court, the Copyright Act, infringement and how enforcement agencies handle it. I thank the delegation for its hard work and for the statement today. 
JAPAN 
5.34.  First of all, Japan appreciates the informativ e presentation by the Hon. Haruna Iddrisu, 
Minister of Trade and Industry, providing comp rehensive and detailed responses to Members' 
concerns from the first day. We also appreciate the Ghanaian delegation's hard work to prepare 
the answers. 
5.35.  Japan has submitted a follow-up question in written format regarding the answers which we 
received in advance. We are interested in the current status of the law on the export prohibition on 
round or unprocessed logs and the expected sched ule of the amendment. We are looking forward 
to receiving answers to the questions in due course.  WT/TPR/M/298 • Ghana 
 
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  CANADA 
5.36.  I would simply and briefly like to thank and congratulate H.E. Mr Iddrisu and the entire 
Ghanaian delegation for a very constructive and diligent participation in this Trade Policy Review.  
5.37.  On Monday, we heard an amount of recognition of Ghana's achievements in its economic 
development. Along with this, there was the healthy amount of constructive criticisms. For 
Canada, it included a focus on the investment environment and, in that respect, on local-content requirements (for example in the GIPC legislatio n and others). We also flagged the interest we 
have in our Bilateral Foreign Investment Protection Agreement and we look forward to that 
proceeding.  
5.38.  Canada recognizes and appreciates your engagement in the process. For example, while 
Canada was late in submitting our questions for your consideration, and we therefore had no 
expectations of receiving responses by the first day of the Trade Policy Review, you exceeded 
those expectations and did provide responses on the first day. It is worth recognizing that achievement and we thank you for that. We will have a close look at those responses and at other 
constructive comments provided. WT/TPR/M/298 • Ghana 
 
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  6  CONCLUDING REMARKS BY THE CHAIRPERSON 
6.1.  This fourth Trade Policy Review of Ghana ha s provided a timely opportunity to analyse 
developments in its trade and investment policies since its last review in 2008. I would like to thank H.E.  Mr Haruna Iddrisu, Minister of Trade and Industry; Ambassador Sammie Pesky Eddico, 
Permanent Representative of Ghana to the WTO; and the rest of the Ghana delegation, for their 
full commitment to this exercise. I would also like to thank Ambassador Wiboonlasana Ruamraksa, Permanent Representative of Thailand to the WTO, for her insightful interventions as discussant.   
6.2.  Ghana's political stability, its strong democratic foundations, and the strengthening of legal 
protection, including through the recent creation of specialized commercial courts, have improved its business environment and contributed to attracting large foreign direct investment. As a result, and also following exploitation of petroleum, Gh ana has experienced impressive economic growth 
and social development in recent years. This has succeeded in halving the level of extreme poverty 
and placing Ghana in the group of medium income developing countries.  
6.3.  Recently however, serious macroeconomic imbalances have been a cause of concern, and 
have been jeopardizing Ghana's continued expa nsion. Members thus asked about Ghana's plans 
for macroeconomic stabilisation. In particular, clarification was sought about the newly introduced foreign exchange restrictions to address the recent depreciation of the cedi. Noting that the 
Ghanaian economy relies mainly on the export of primary commodities, namely cocoa, gold and, 
since 2010, crude oil, whose price volatility is a factor of instability for the economy, Members asked about its plans for diversification, and for a better governance in the oil sector. They urged Ghana to adopt a competition policy with a view to further improving its business environment. 
6.4.  On Ghana's new investment law, many participants raised concern about, inter alia , the 
increase in the number of restricted sectors and in the minimum capital amounts to levels that exceed GATS commitments. Members also enquired about the general increase in local 
participation provisions in Ghana's recent statutes in the shipping and energy sectors, including 
petroleum. 
6.5.  Members commended Ghana on its renewed commitment to the WTO, but urged Ghana to 
better meet its notification obligations and improve the transparency in its legal system by making 
acts and regulation available online. With resp ect to regional agreements, Members noted that 
Ghana had actively participated both in ECOWAS negotiations towards a common external tariff (CET), and in an Economic Partnership Agreement with the European Union; however, it was noted 
that the pace of intra-ECOWAS integration remains slow. 
6.6.  Specific subjects raised by Members during the review include: 
1) Trade facilitation:  Members called for rapid and far-reaching reforms of border 
procedures, in particular inspection, scanning, and port clearance, so as to achieve the 
standards of a modern economy. They urge d Ghana to reduce the numerous entities 
which intervene at the border and collect fees. We hope that Ghana would rapidly 
make the necessary commitments under the Trade Facilitation Agreement. 
2) Tariffs and other taxes:  Members noted the very low level of tariff binding 
commitments by Ghana, at high rates, and stressed that the large gap between applied and bound rates had made possible the frequent recent tariff increases; they 
expressed the hope that the implementati on of the ECOWAS CET would enhance the 
stability and predictability of Ghana's tariff. Members also noted that Ghana maintains several other duties and charges, despite their binding at zero under the GATT, and 
stressed that numerous exemptions from border taxes further complicate the tax 
regime. More information was sought about Ghana's incentive schemes, including under the Free Zone regime.   
3) TBT, SPS and IPRs: Members welcomed the perspective for new legislation that 
would appropriately differentiate between standards and technical regulations, and rationalize the "high risk goods" statut e. They noted the 2012 modernization of 
Ghana's SPS framework; and called for better inter-ministerial coordination, for WT/TPR/M/298 • Ghana 
 
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  example via national TBT and SPS committees. Concerns were raised about the 
enforcement of IPR legislation. 
4) Agriculture: Members praised Ghana for the good performance of its agriculture, 
including food production and cocoa, support ed by domestic policies and strong world 
prices. They praised ongoing land ownership reforms, but invited Ghana to notify the 
Cocoa Marketing Company to the WTO Committee on State Trading Enterprises. Members also sought explanations for the low growth of the fishing, livestock and 
forestry sectors. 
5) Mining:  Members welcomed Ghana's announced efforts to manage the new petroleum 
revenues in a transparent manner for the bene fit of its citizens, including through the 
creation of wealth funds, but asked about implementation challenges. Efforts to 
deregulate the downstream petroleum industry were commended, as was the increase 
in electricity production with a view to curbing the still frequent power cuts.   
6) Services:  Members commended Ghana's efforts to accelerate the modernisation of its 
services sectors, in particular information and communication technology; and also 
the recent issuing of licences to foreign telecommunication companies. In financial services, Members commended the steps taken through new laws to facilitate access 
to credit by small operators.    
6.7.  Members appreciated answers to about 150 advance written questions and looked forward to 
written replies to the outstanding questions no later than one month after this meeting.   
6.8.  In conclusion, I hope that this Review will be of use to Ghana to modernize its external trade 
regime in line with recent domestic achievements, and in so doing boost the competitiveness of its 
products and services. Economic prospects would be enhanced if Ghana also undertook macroeconomic reforms, and reviewed its invest ment regime. The participation of a sizeable 
number of delegations in this Review, despite the holding of concomitant meetings, and the large 
number of questions posed indicated the import ance of Ghana as a trading partner for WTO 
Members. 
6.9.  In closing, I would like to thank the delegati on of Ghana, all the other delegations, the 
discussant, the Secretariat and the interpreters; for this successful fourth review of Ghana's trade policies. 
__________