WORLD TRADE  
ORGANIZATION  WT/TPR/M/194 
31 March 2008 
 (08-1389) 
Trade Policy Review Body 
28 and 30 January 2008   
 
  
TRADE POLICY REVIEW 
 
GHANA 
 
Minutes of Meeting
 
 
Chairperson:  H.E. Mr. Vesa Himanen (Finland) 
  
  Page 
 
I.
 INTRODUCTORY REMARKS BY THE CHAIRPERSON 3  
II. OPENING STATEMENT BY THE REPRESENTATIVE OF GHANA 4  
III. STATEMENT BY THE DISCUSSANT 5  
IV. STATEMENTS BY MEMBERS 8  
V. REPLIES BY THE REPRESENTATIVE OF GHANA AND ADDITIONAL 
COMMENTS  12  
VI. CONCLUDING REMARKS BY THE CHAIRPERSON 15  
 
 
Note:   Advance written questions by WTO Me mbers and the replies provided by Ghana are 
reproduced in document WT/TPR/M/194/Add.1 and will be available online at:  
http://www.wto.org/english/tr atop_e/tpr_e/tp_rep_e.htm.     WT/TPR/M/194 
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I. INTRODUCTORY REMARKS BY THE CHAIRPERSON 
1. The third Trade Policy Review of Ghana was held on 28 and 30 January 2008.  The 
Chairperson H.E. Mr. Vesa Himanen (Finland) we lcomed the delegation of Ghana, headed by 
Mr. Kwaku Agyemang-Manu, Deputy-Minister of Trade, Industry, Private Sector Development, and President's Special Initiatives, and the discussant, H.E.  Mr. Arsene M. Balihuta (Uganda).  As usual, 
the discussant would speak in his personal capacity and not as a representative of his country.  In 
accordance with the established proce dures, the discussant had made available, in advance, outlines of 
the main issues he intended to raise (document WT/TPR/D/169). 
2. The Chairperson recalled the purpose of the Trad e Policy Reviews and the main elements of 
the procedures for the meeting.  The report by Ghana was contained in document WT/TPR/G/194 and 
that of the WTO Secretariat in WT/TPR/S/194.  As indicated in WT/TPR/6/Rev.1, the Member under 
review should provide written answers, by the be ginning of the review meeting, to questions 
submitted at least two weeks before the meeting.  Questions posed subsequently should be answered, 
to the extent possible, before the start of the second session of the meeting.  Questions left 
unanswered at the end of the second session should be  answered in writing no later than one month 
after the meeting.  Questions by the following dele gations had been submitted in writing at least two 
weeks in advance of the meeting and had been tr ansmitted to the Ghanaian delegation:  Brazil;  
the Republic of Korea;  Canada;  Ecuador;  the United States;  the European Communities;  and 
Colombia.  Copies of these questions and of Ghana' s answers were available in the meeting room.  
Japan  had submitted written questions after the two-w eek deadline.  These questions had also been 
transmitted to the delegation of Ghana;  copies of these questions along with the answers were 
available in the meeting room.  All advance questions, as well as the responses received from the Ghanaian delegation, are reproduced in WT/TPR/M/194/Add.1. 
3. The Chairperson noted Ghana's positive economic  performance since its last TPR in 2001, 
with high economic growth, decreasing inflation, im proved fiscal situation, and progress in poverty 
reduction.  Growth had largely been driven by the agriculture sector, which had remained the 
backbone of Ghana's economy.  Economic reforms implemented over the last few years, including 
trade liberalization, had helped to achieve these results.  Nevertheless, infrastructural problems and 
difficult access to financing continued to pose a problem to the economy.   
4. The Secretariat report also highlighted the lack of competition policy and the predominance 
of state-owned enterprises in certain sectors.  Gh ana's applied MFN tariff had fallen from 14.7% in 
2001 to 12.7% in 2007, with tariffs on non-agricultu ral goods at lower rates. According to the 
Secretariat report, the tariff structure impeded th e competitiveness of certain exports from Ghana.  A 
number of other duties and charges on imports were also in place.  The report also indicated that 
Ghana was an active participant in the WTO, including the DDA negotiations, and its regional 
integration efforts were mainly built on its membersh ip in the Economic Community of West African 
States (ECOWAS). 
 WT/TPR/M/194 
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II. OPENING STATEMENT BY THE REPRESENTATIVE OF GHANA 
5. The representative of Ghana
 recalled Ghana's commitment to the multilateral trading system 
and to the TPRM.  At its 2001 Review, Ghana had in formed Members that steps had been taken to 
stem its negative economic developments;  these efforts had been rewarded following a prudent management of the economy.  Ghana's macroeconomic environment had improved significantly, 
including more effective revenue mobilization;  reduction in fiscal deficits that halted the crowding 
out of the private sector from the credit market;  decelerating inflation;  competitive interest rates;  
and exchange rate stability.  Since the macroec onomic environment had improved remarkably, the 
Government had reviewed certain aspects of Ghana' s trade policy to make them more supportive of 
the changing economic environment in tune with  the proclamation of Ghana's "Golden Age of 
Business".  This had led to Gh ana's new Trade Policy in 2005 and to a Trade Sector Support 
Programme (TSSP) to operationalize it;  these were to be complemented  by an industrial policy and an 
industrial sector support programme that were currently under preparation.  These policies and programmes were aimed at overcoming Ghana's supply-side constraints that had prevented it from taking full advantage of the market access opportunities  offered by the multilate ral trading system and 
its preferential trade regimes.  The success of thes e programmes was seen as a guarantee of the success 
of Ghana's export-led industrialization strategy.  Since the TSSP was funded by the Government and 
some development partners, Ghana welcomed any support from other partners;  it was also looking 
forward to the implementation of the Aid-for-Trade Initiative. 
6. Since 2001, Ghana had been engaged in adopting trade facilitation measures, in particular 
transparent and efficient customs clearance procedures to  reduce the cost of doing business.  The use of 
information and communication technologies, thr ough Ghana Community Network Systems (GCNet), 
had been introduced in 2003.  GCNet was an electr onic data interchange system aimed at fast and 
effective processing of cargo clearance and relate d operations.  It had significantly improved the 
processing of trade and customs documentation, as well as payments, thus enhancing revenue 
collection.  Customs clearance had been greatly expe dited.  GCNet was currently deployed at all ports 
and major borders.  An enhanced transit tracking module had also been introduced, entailing the sealing of consignments and monitoring by IP ca mera facilities along the transit corridor to ensure 
effective monitoring of all transit consignments.  As  a result, the use of customs escorts to accompany 
transit consignments was being phased out, there by eliminating some of the delays and risks 
associated with the movement of transit goods.  These and other reforms had placed Ghana among the 
top 10 reformers in the last two World Bank Cost of Doing Business surveys.  
7. Ghana continued to play a key role in West Africa's integration process within ECOWAS.  The 
ECOWAS had aimed to adopt a common external tariff (CET) by 31 December 2007 with a view to 
establishing a customs union by 1 January 2008.  However, these deadlines had been missed.  Negotiations 
were still ongoing to align the tariffs of no n-UEMOA ECOWAS members with the UEMOA CET to 
establish the ECOWAS CET.  New deadlines were to be set.  The ECOWAS was negotiating an EPA with 
the EC in order to replace the Cotonou Agreement non-reciprocal preferential trade regime that had 
expired on 31 December 2007.  It had not been possible to conclude these negotiations by 
31 December 2007 as scheduled, when the WTO waiver for implementation of the Cotonou trade regime 
had expired.  An interim agreement compatible with the WTO rules had therefore had to be put in place to avoid trade disruption;  Ghana and the EC had initiall ed a stepping stone agreement that covered trade in 
goods only, in compliance with GATT Article XXIV;  this agreement, to be signed in June 2008, would be 
superceded by a comprehensive EPA once negotiations were concluded. 
8. The delay in concluding the DDA negotiations ha d been a source of concern to Ghana;  
despite not knowing when these nego tiations would be concluded, it no netheless remained optimistic.  
Ghana commended efforts of the the DG and the Member s.  Resolving contentious issues (agriculture 
and NAMA, in particular) was the key to a successful  conclusion.  Since Members were looking for 
balanced outcomes, there had to be concrete pr ogress and symmetrical movements in areas related to 
developing countries' issues (e.g. implementation, sp ecial and differential treatment, and preference 
erosion).  Only satisfactory outcomes in these areas would give meaning to the Round as a "development round".  WT/TPR/M/194 
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III. STATEMENT BY THE DISCUSSANT 
(i) Macroeconomic environment 
9. Since 2001, Ghana had implemented prudent fi scal, monetary, and exchange rate policy 
measures and pursued relatively liberal privatizati on and investment policies.  Fiscal policy measures 
had included: (i) restructuring the tax policies by broadening the tax b ase and lowering rates;  
(ii) strengthening tax collection efforts;  and (iii)  reorganizing the revenue-collecting agencies.  
Monetary policy measures had included:  (i) stre ngthening the Central Bank by enacting a law that 
ensured its independence;  (ii) establishing a Mone tary Policy Committee responsible for formulating 
monetary policy;  (iii) limiting the Government's  yearly borrowing from the Central Bank to 10% of 
its revenue;  and (iv) re-denominating Ghana's currency.  Exchange rate policy measures had 
included:  (i) enacting a new Foreign Exchange Act in  2006;  (ii) requiring exporters to collect and 
repatriate their full proceeds to their local banks, w ithin 60 days of shipment;  (iii) establishing that 
the Bank of Ghana, under the 2006 Minerals and Mi ning Act, may allow the owner of a mining lease 
to retain a portion of the foreign exchange earne d on his account;  (iv) requiring that cocoa export 
proceeds be surrendered to the Bank of Ghana;  (v ) requiring that commercial banks submit reports of 
all export receipts to the Bank of Ghana;  (vi) permitting residents to maintain foreign exchange 
accounts that could be credited with foreign exchange  earnings not converted into cedi;  (vii) allowing 
residents to transfer up to US$10,000/year from th eir accounts to meet payments abroad, without 
documentation;  (viii) allowing residents and non -residents travelling abroad to carry up to 
US$10,000;  and (ix) authorizing dealer banks to freely export foreign currency. 
10. Privatization was continuing.  State-owned enterp rises (SOEs) still played a significant role in 
the economy, in particular in utilities, energy, and tr ansport.  Ghana did not yet have legislation on 
anti-competitive practices.   
11. Investment was regulated by the 1962 Partnership Act, the 1963 Companies Code, the 1994 
Ghana Investment Promotion Centre Act, and vari ous sector-specific laws and regulations.  Ghana 
had ratified investment promotion and protectio n agreements with a number of countries, and 
established an arbitration centre.  It was a member of MIGA and the International Centre for the Settlement of Investment Disputes.  Ghana had est ablished several investment  incentives for local and 
foreign investors;  there were guarantees to fore ign investors for unconditional transferability of 
dividends or net profits, and re mittance of proceeds on sale or liquidation of their enterprises. 
However, various restrictions remained:  foreign investors were required to pay registration fees and 
to renew their registration every two years;  they were excluded from certain economic activities;  local participation in mineral and oil projects was compulsory and the State acquired a 10% equity in 
ventures for free;  and the level of shares held by  foreigners in companies listed on the Ghana Stock 
Exchange was limited, as was land ownership.  
12. Ghana was an original WTO Member.  It had signed the Fourth and Fifth Protocols to the 
GATS, but was not party to the ITA or any of the WTO Plurilateral Agreements.  It granted at least 
MFN treatment to all its trading partners.  It had not  been a defendant or complainant in any disputes;  
but had been a third party in one case.  Ghana woul d benefit from the available technical assistance to 
better handle its difficulties in meeting a number of WTO notification requirements.  It was 
committed to the multilateral trading system, and wa s participating in the Doha Round negotiations;  
Ghana had taken steps to further liberalize its tr ade regime, through reducing its MFN tariffs.   
13. Ghana's policy measures had contributed to:  (i) broadening the tax base, which had increased 
public revenue, thus narrowing the fiscal imbalance,  and allowing an increase in the level of poverty 
alleviation expenditures, in particul ar in education and health;  (ii) a large injection of liquidity into 
the economy due to increased foreign exchange inflows and strong private sector credit growth;  (iii) growth in savings;  (iv) a more market-deter mined exchange rate;  (v) increased FDI inflows, in 
particular in mining, manufacturing, constructi on, and services;  and (vi) an average annual GDP 
growth of 5.1% between 2000 and 2006 (up from 4.4% between 1995 and 1999).  Ghana's economic WT/TPR/M/194 
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outlook was good.  Its real GDP growth was project ed to be over 6% annually in the medium term, 
and between 7% and 9% in the long term.   
(ii) Trade policies 
14. Ghana's tariffs were ad valorem  and based on the c.i.f. value.  All tariff lines carried rates at 0, 
5, 10, or 20%, except for 13 petroleum products;  the 10% and 20% rates applied to over 40% of the 
tariff lines.  Some 12% of the ta riff lines were duty-free (13.5% in 2000).  The 2007 average applied 
MFN tariff had been 12.7% (14.7% in 2000).  MF N rates on agricultural products were generally 
higher (average of 17.5%) than on non-agricultura l products (average of 12.0%).  Imports from 
ECOWAS were duty free.  As a result of its ECOWAS membership, Ghana charged non-ECOWAS members greater than zero tariffs on certain goods th at were already bound at zero.  In this regard, 
Ghana might find it useful to negotiate with its ECOWAS or WTO trading partners.  Ghana should also consider the causes that were making the ECOWAS customs union difficult to establish, as well 
as the effects the conclusion of the EPA negotiatio ns would have on its trade regime, within the 
ECOWAS context.  Imports were subject to 12.5%  VAT, a 2.5% National Health Insurance Levy, and 
excise duties.  Ghana's technical regulations covere d a wide range of agricultural and non-agricultural 
goods, and did not distinguish be tween imported and domestically produced goods.  Ghana did not 
have non-preferential rules of origin. 
15. Ghana's applied tariff regime displayed reverse escalation:  an average tariff of 14.3% was 
levied on products at the first stage of pro cessing, 13.0% on semi-finished goods, and 12.3% on 
finished products.  This tariff structure could i nhibit Ghana's industrialization efforts.  Ghana had 
bound 14.7% of its tariff lines under the Uruguay Round .  In agriculture, all tariffs had been bound, 
mainly at a 99% ceiling rate.  Lower bound rates of  40% and 50% had been set on a few agricultural 
products.  Only 1% of non-agricu ltural tariff lines had been bound at ceiling rates of mainly 30% and 
40%.  Some other bindings had been at 35% and 45%.   
16. Ghana only prohibited certain imports, e.g. certain types of second-hand clothing as well as 
toxic waste.  It prohibited imports in accordance  with international agreements, such as CITES.  
Ghana did not have any quantitative restrictions or licensing requirements on imports.  Although it 
prohibited certain imports (e.g . soil and bud wood of cocoa) on SPS grounds, it had not yet submitted 
any SPS notifications.  Clarification of Ghana's criteria for its SPS and TBT prohibitions would 
benefit its already liberal trade regime.   
17. Although Ghana had been implementing the WTO Customs Valuation Agreement since 2000, 
the underlying legislation had not yet been adopted;  Ghana was facing difficulties in implementing the Agreement and had requested technical assistance. 
18. To ensure an efficient and transparent proc urement system that supported private-sector 
development, Ghana had enacted a new Public Pr ocurement Act in 2003.  The Act was aimed at 
decentralizing procurement and increasing transp arency. The Public Procurement Board was 
responsible for policy formulation and oversight.  Implementation regulations under the Act had not 
been adopted, but the Act was applied in practice. 
(iii) Sectoral policies 
19. Agriculture was Ghana's leadi ng economic sector.  Cocoa was its main cash crop and most 
important export product.  Other cash crops included pa lm oil, cotton, and coconut.  There had been a 
steady growth in production of most agricultural products.  Producers had been assisted through extension services and subsidized seeds.   
20. Although gold remained Ghana's second most impor tant export (over 30% in most years), the 
contribution of mining and quarrying to GDP had fa llen below 5%.  Mining rights were subject to 
fees and royalties.  The State acquired a 10% stak e in each mining company at no cost.  However,  WT/TPR/M/194 
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mining had remained the most important target sector for FDI.  SOEs dominated Ghana's energy sector;  transmission and distribution of electricity were under state monopoly.  Ghana maintained a fuel subsidy that accounted for a large share of public expenditure.   
21. Ghana's industrial base was relatively br oad and diverse;  it included textiles, 
pharmaceuticals, and electronics.  However, manufac turing still contributed less than 10% to Ghana's 
GDP;  most manufacturing activities centred around the processing of agricultural goods.  Moreover, marked positive tariff escalation for food products an d textiles implied high effective protection, and 
could reflect their low competitiveness.   
22. Services was Ghana's second largest economic sector in terms of GDP and employment 
contribution.  Since 2001, it had contributed about 29% to GDP.  Ghana remained a net importer of 
services.  Although new legislation had been introd uced for the insurance and banking sub-sectors in 
2004 and 2006, SOEs still dominated reinsurance, fixe d-line telephony, postal services, inland water 
transport, and maritime port operations.  Ghana' s specific commitments under the GATS had covered 
tourism, financial services, and telecommunications. 
(iv) Conclusion 
23. Annex 3 of the Marrakesh Agreement stipulated  that the Trade Policy Review was aimed at 
enabling "the regular collective appreciation and ev aluation of the full range of individual Members' 
trade policies and practices, and their impact on the functioning of the multilateral trading system".  
The Annex further stipulated that this evaluation was aimed at ensuring that the Member under review 
adhered to the WTO rules, disciplines, and commitments, in order to make the multilateral trading 
system function more smoothly.  However, there appeared to be an underlying assumption that the 
Member under review had a fully developed supply cap acity to enable it to take full advantage of the 
smooth functioning of the multilateral trading system.  In the discussant's understanding, Ghana did not enjoy a developed supply capacity because substa ntial structural and institutional constraints 
limited its production and export capacity.  Although Ghana appeared to have already liberalized its 
economy considerably, Members should think of ways in which they could assist Ghana to develop its 
supply capacity, so that it could take full a dvantage of the multilateral trading system.  
 WT/TPR/M/194 
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IV. STATEMENTS BY MEMBERS 
24. The representative of Brazil
 highlighted the importance of trade in Ghana's impressive 
economic performance in recent years;  Ghana's improved trade performance (increased merchandise 
exports and imports, and diversifi cation) coincided with its genera l economic enhancement (growing 
real GDP and improved fiscal situation).  However, some indicators needed to be improved.  
Although Ghana had diversified its trade, the EC re mained its main trading partner, and integration 
within the ECOWAS remained a major challenge.  Brazil encouraged Ghana to enhance regional 
trade relations, while participating actively in th e multilateral trading system.  Brazil appreciated 
Ghana's commitment to the GSTP and asked it to re main committed to the Sao Paulo Round.  Since 
2005, Brazil's Enterprise for Agricultural Research had been working beneficially with Ghana on 
increasing agricultural productivity, improving sanita ry and phytosanitary standards, and providing 
training for officials.  Agriculture was driving Ghana's economy;  production had increased in recent 
years, and Ghana's objective was to increase productiv ity and improve livelihoods.  However, Ghana 
faced unfair competition from export subsidies, a nd tariff peaks and escalation;  Brazil relied on 
Ghana's support to push forward negotiations on agri culture.  Brazil hoped that Ghana would remain 
committed to the multilateral trading system  and engaged in the Doha Round.   
25. The representative of Korea  said that bilateral trade between Korea and Ghana had increased 
steadily over the years, but there was further poten tial to develop trade and investment relations.  
Korea welcomed Ghana's sound economic gr owth since 2003 and its improved economic 
fundamentals.  Ghana should continue in its effo rts to allocate resources better and to improve the 
predictability and transparency of its trade regime in order to sustain economic growth and to reach 
middle-income status by 2015, as well as reduce poverty.  Korea appreciated Ghana's liberal trade and 
investment regime and its efforts to pursue trad e liberalization, through reducing its applied MFN 
tariffs;  it also appreciated its commitment to th e WTO.  Although Ghana had progressed significantly 
in its customs clearance procedure, many trader s still faced difficulties in importing high-value goods 
through the airport due to the uncertainty and unpr edictability of the tariff classification and customs 
valuation;  Korea requested Ghana to address this issue.   
26. The representative of Canada  said that Ghana was Canada's largest export market for goods in 
West Africa and one of its fastest-growing import markets;  Canada hoped that the trend of its 
growing investment in Ghana would continue.  Canada congratulated Ghana for its overall strong 
economic performance since 2001.  The 2005 launch in  Ghana of the Canada Investment Fund for 
Africa was a recognition of Ghana's stronger econom ic fundamentals, stability, and good governance.  
Ghana would host UNCTAD XII, which stressed its leadership in the dialogue on accelerating trade 
and investment.  Canada appreciated Ghana's commitment to the WTO.  While its economic outlook remained solid, Canada encourag ed Ghana to focus on preserving fiscal control and macroeconomic 
stability, and to continue its reforms to a ccelerate economic growth and social progress. 
27. The representative of Ecuador
 highlighted the considerable improvement in Ghana's 
macroeconomic indicators.  The bilateral trade balance between Ecuador and Ghana was favourable 
to Ecuador.  Ghana was committed to the multilatera l trading system and shared the objective of 
balancing that system through the successful conc lusion of the Doha Round.  Ecuador hoped that 
Ghana would continue on the road to progress and pov erty reduction. 
28. The representative of the United States  said that Ghana's trade refo rms (lower tariff, simplified 
tariff schedule, and streamlined customs procedur es) since 2001 were partly responsible for the 
considerable improvement of its macroeconomi c fundamentals and strong increase in merchandise 
exports and imports.  Agriculture remained the b ackbone of Ghana's economy, yet it was the most 
tariff-protected sector.  The United States hoped that Ghana would continue to pursue trade liberalization.  Ghana's significant economic reform s had been recognized internationally.  It had 
reduced its regulatory and administrative barriers on a number of business operating processes.  The 
United States looked forward to the next phase of Ghana's reform progr amme and recommended  WT/TPR/M/194 
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Ghana to consider pursuing the lib eralization of the ECOWAS CET.  Ghana's investment regime was 
liberal with some exceptions;  Ghana faced importa nt challenges to its inve stment environment for 
reasons related to infrastructure, productivity, financing, and the nature of the work force.  Given the role of SOEs in Ghana's economy, the United States urged Ghana to privatize basic infrastructure services.  Ghana had passed legislation to impl ement its TRIPS commitments;  the United States 
urged Ghana to continue its efforts in strengthening  IP protection.  U.S.-Ghana bilateral trade had 
been increasing;  99% of the U.S. imports from Ghana entered duty-free under AGOA.  The United States provided assistance to Ghana through bilateral and regional programmes.  The United 
States appreciated Ghana's commitment to the WTO;   it urged Ghana to adopt voluntary standards 
and asked it to submit its SPS notifications.  The Un ited States also appreciated Ghana's participation 
in the DDA;  it encouraged Ghana to increase its tariff bindings acco rding to its Uruguay Round 
commitments.  Ghana was already benefiting from its  liberalized trade regime and was one of the 
United States' most important trading partners in Africa. 
29. The representative of the European Communities
 said that Ghana was a shining example of 
sustainable economic development among sub-Saharan countries.  The EC appreciated Ghana's recent 
reforms, especially its fiscal and monetary polic ies, that had improved macroeconomic stability and 
indicators.  Ghana could be the first sub-Sahara n country to achieve MDG 1 well ahead of 2015 and 
was on track for MDGs 2 and 3.  The EC was Ghan a's major trading partner and would continue to 
support its economic reforms, through devel opment assistance.  The EC supported Ghana's 
commitment to regional integration within ECOW AS and the African Union.  Although Ghana had 
implemented trade and economic reforms over the l ast ten years, it should continue to fight 
corruption, and to pursue decentralization and econom ic diversification.  The EC urged Ghana to 
rationalize laws on foreign investment and on la nd ownership by foreigners, and to introduce a 
competition policy;  it wished to know how the objectives of change and modernization could be 
achieved.  The EC also asked Ghana when and how  it intended to incorporate the WTO Agreements 
(in particular the Customs Valuation Agreement) into its national law;  and if it intended to fulfil its 
SPS notification obligations.  The EC wished to know Ghana's view on how and when the ECOWAS 
CET would be established and the customs union finali zed.  The EC hoped to be able to conclude its 
EPA negotiations with ECOWAS in 2008;  a first bl ock of this EPA had been negotiated with Ghana 
in 2007 to replace the Cotonou Agreement trade re gime by a new agreement in line with GATT 
Article XXIV.  The EC was working on  notifying this new agreement.   
30. The representative of Colombia  said that Ghana's economic gr owth, inflation and productivity 
figures as well as its trade reforms were encouragi ng.  Ghana should endeavour to maintain that 
rhythm and to ensure conditions  that would contribute to pove rty reduction and sustainable 
development.  Ghana was aiming to achieve middl e-income status by 2015 and become a leading 
agro-industrial country.  Although Ghana's investme nt regime was liberal, several institutional and 
infrastructural problems had emerged.  Colombia  encouraged Ghana to establish conditions that 
would guarantee legal stability, secu rity and business competitiveness.   For Ghana to increase its 
income, its economy needed to be diversified and the value-added element enhanced by increasing the 
trade flow of goods and services, both exports and imports.  Colombia supported Ghana's possible 
initiatives to change protectionist measures in the ag riculture sector.  Travel was the most important 
source of foreign exchange among the services categori es, and Colombia encour aged Ghana to revise 
its plurilateral requests in the tourism sector ma de during the WTO negotiations with a view to a 
possible endorsement.  The increase in the service s supply within the country would complement 
Ghana's economic objectives.  The trade balanc e between Colombia and Ghana had favoured 
Colombia since 2001.  There was plenty of room for improvement of this trad e relation, provided that 
Ghana continued to open up its trade and offere d a more transparent and procompetitive framework. 
31. The representative of Japan  appreciated Ghana's active cont ribution to peace and stability in 
Africa as well as its constructive participation in th e WTO.  Although issues remained in social 
development and poverty reduction,  Ghana's improved productivity and trade policy reform since 
2001 had led to positive growth and improved macroeconomic indicator s.  Japan  supported Africa's WT/TPR/M/194 
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sustainable and broad-based growth through TICAD.  Ghana's efforts to improve its business climate 
had led it to rank 3
rd in the 2008 World Bank's Cost of Doing Business survey.  Japan welcomed 
Ghana's efforts to reduce the time and cost for business registration, simplify customs procedures, 
introduce GCnet, and speed-up import procedures.  However, Ghana needed to diversify its economy 
and export further;  Japan asked for Ghana's view a nd about measures taken in this regard.  It hoped 
that Ghana would participate in TICAD IV. 
32. The representative of Benin  highlighted Ghana's achievements since 2001.  Furthermore, 
Ghana had undertaken to introduce poverty-reduction measures, its main objective being to achieve 
middle-income status by 2015.  Its commitment to press forward with reforms in the production and 
export sectors would help to ensure the continuity of its favourable economic and trade prospects.  
Ghana was helping to promote economic and social development at both African regional level and 
West African subregional level.  Benin urged Ghan a's bilateral and multilatera l partners to support the 
country's endeavours. 
33. The representative of the Separate Customs Te rritory of Taiwan, Penghu, Kinmen, and Matsu 
(Chinese Taipei)  said that the considerable improvement  in Ghana's macroeconomic fundamentals 
and the strong upward trend in many of its key economic indicators since 2001 were encouraging.  
Ghana's positive economic outlook should help it to  reduce poverty further and achieve the MDG.  
However, Ghana's average tariff on manufacturing products displayed marked escalation, which resulted in high effective protection and negatively affected the competitiveness of certain products.  
Chinese Taipei encouraged Ghana to  enact legislation on anti-competitive practices.  Ghana needed 
technical assistance in the area of SPS, custom s reform, and capacity-building, as well as in 
improving compliance with WTO rules;  Chinese Taipei had already undertaken successful 
institutional capacity-building projects in Africa, a nd looked forward to sharing with Ghana its sector-
specific development experience.  While Ghana exp ected its developed partners to open up Mode 4 
supply of services, it should facilitate the visa issuance procedures for foreign businesses. 
34. The representative of Burkina Faso
 recalled that Burkina Faso and Ghana were members of 
the Economic Community of West African Stat es (ECOWAS).  Ghana's implementation of a 
macroeconomic stabilization programme in 2001 ha d enabled it to make progress and aspire to 
economic stabilization.  The various reforms were  intended to help Ghana achieve middle-income 
status by 2015.  Its macroeconomic and political stability had lent it credibility in the subregion and thus enabled it to play major roles in Africa.  Ghana was a firm believer in the multilateral trading 
system and an example of a developing country  struggling to promote development and reduce 
poverty.  Ghana had played in pivotal role in pa nafricanism.  Burkina Faso called upon development 
partners to offer their support to Ghana.   
35. The representative of Mali
 recalled that Mali and Ghana were members of ECOWAS and the 
ACP Group.  Mali welcomed the encouraging results  of the macroeconomic stabilization programme 
and the reforms undertaken by Ghana in 2001.  Infla tion had been contained thanks to the stability of 
the cedi.  Mali was concerned that Ghana had not yet managed to derive greater benefit from the 
multilateral trading system.  The Trade Sector Support Programme 2006-2010 nevertheless gave some 
reason for hope.  Certain comparisons between Gh ana and some currently emerging countries, which 
had had the same level of GDP as Ghana in the sixtie s, were not justifiable, given that Ghana had had 
to face more pronounced constraints in terms of infrastructure and human resource capacity.  Mali 
called upon Members to increase development assist ance to Ghana, in particular within the 
framework of Aid for Trade. 
36. The representative of Singapore  referred to the significant improvement of Ghana's 
macroeconomic fundamentals and economic performan ce since 2001.  There was potential for further 
increase and diversification in the growing Singa pore-Ghana trading relationship.  Singapore had 
provided Ghanaian officials with training in various fields and would be pleased to continue to share 
its economic development experi ence.  Singapore commended Ghana on its objective to achieve  WT/TPR/M/194 
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middle-income status by 2015 as well as its efforts to lib eralize its trade regime.  It was confident that 
Ghana would address its challenges and continue to benefit from the multilateral trading system. 
37. The representative of Zimbabwe  commended Ghana for its macroeconomic stabilization 
programme, which had brought about economic and social progress.  Ghana faced ec onomic and social 
challenges that limited its ability to take full adva ntage of the market access opportunities offered by 
the multilateral trading system.  Zimbabwe hope d that Ghana would continue its macroeconomic 
stabilization programme and wished it well in achieving middle-income status by 2015.  Zimbabwe also hoped that Ghana would receive the necessary support. 
38. The representative of India
 recalled the considerable im provement in Ghana's economic 
fundamentals;  however, short-term risks arose from the substantial deterioration of its fiscal deficit 
and from energy shortages.  Ghana faced challenges,  such as attaining a high-growth trajectory while 
preserving macroeconomic stability, or financing its development agenda and attaining the MDGs.  
Because of its supply-side constraints, Ghana had no t been able to take full advantage of the market 
access opportunities offered by the multilateral tradin g system.  An estimated 50% of its population 
still lived on less than US$1 a day.  India called on Ghana's development partners to significantly 
enhance their technical support and fina ncial assistance.  The representative recalled India's           
long-standing relationship with Ghan a and referred to their important  agreements signed in 2002, as 
well as to the 2003 inauguration of the India-Ghana Kofi Annan Centre of Excellence for Training in Information Technology.  India had provided Ghana with technical assistance in human resource development, through bilateral and multilateral programmes.  Ghana was participating in the 
Government of India's TEAM 9 initiative.  Bilate ral trade between Ghana and India had increased 
significantly over the last few years. 
  WT/TPR/M/194 
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V. REPLIES BY THE REPRESENTATIVE OF GHANA AND ADDITIONAL 
COMMENTS 
39. The representative of Ghana
 thanked the Chairperson, the discussant, and the Members. 
Ghana was a developing country determined to impr ove the standard of living of its people;  the 
Members' words would encourage it to strengthen its resolve to ensure that it took its rightful place in 
the multilateral trading system. 
(i) Macroeconomic environment 
40. Ghana's macroeconomic stabilization since 2001  had yielded very positive and encouraging 
results.  Policy reforms had been ex tensive, despite structural and institutional constraints.  Ensuring 
sustainable growth and developm ent depended on fiscal, monetary, and international trade policy 
measures.  Fiscal measures focussed on a more effec tive revenue mobilization, a reduction in public 
expenditure, and a more efficient debt management st rategy;  this had reduced Ghana's fiscal deficit.  
Monetary policy focussed on effective monetary mana gement to ensure low and competitive interest 
rates;  achieving a single digit inflation;  stabiliz ing the exchange rate system;  ensuring reasonable 
spread between lending and savings rates;  and est ablishing long-term capital markets.  International 
trade measures focussed on diversifying exports;  raisi ng the level of industrial efforts by adding value 
and enhancing productivity;  ensuring international competitiveness to achieve a sustainable level of 
foreign reserves (it had stood at three months import cover as at 2007).  However, Ghana was aware 
of the various hurdles to be crossed;  these were take n up by some of the issues raised in the reports. 
41. Since 2001, Ghana's exports had increased strongl y (at an annual average of 15.1%);  private 
remittances and other private capital flows (includi ng portfolio flows and FDI) had also increased.  
Despite difficulties due to international crude o il prices, Ghana's external position had remained 
resilient and was expected to strengthen furthe r in 2008 and beyond.  Ghana was leaving no stone 
unturned in its macroeconomic stabilization pr ocess with a view to sustaining its positive 
achievements. 
42. Infrastructure development, especially in im proved transportation and alternative energy 
sources (solar and nuclear energies) for the medium -to-long term, were being explored.  Ghana had 
embarked on the construction of a new hydro-electric project at Bui that would add 400 MW of power 
to the pool.  The West Africa Powe r Pool, of which Ghana was a member, sought to increase energy 
supply in the sub-region.  The W est African Gas Pipeline sought to increase energy generation at an 
affordable rate. 
(ii) Trade policies 
43. Competition rules backed by effective impl ementation procedures were healthy for any 
liberalized economy.  In this regard, Ghana had been working since 2001 on a competition bill, with 
UNCTAD's technical assistance.  Competition was also being addressed under the Trade Sector 
Support Programme.  The five-year implementati on programme envisaged enacting a new law to 
reflect international best practices.  A national aut hority would also be established.  Ghana might need 
technical assistance for capacity buildi ng for officials and the judiciary. 
44. Ghana was an active WTO member  and was committed to the WTO's principles;  its trade 
policies were, to a large extent, influenced by the GATT/WTO rules.  Ghana was also an active 
ECOWAS member.  ECOWAS was negotiating an EPA  with the EC;  it implied that Ghana would 
apply a CET once the negotiations concluded. 
45. Ghana had one of the most efficient customs administrations in the sub-region. With the 
introduction of enhanced trade facilitation procedur es at ports and borders, goods could be cleared 
very rapidly once the relevant doc uments were submitted.  Measures were also being undertaken to 
control corruption:  2,000 standards were bei ng prepared for ISO 9001 certification to make the  WT/TPR/M/194 
 Page 13 
 
 
procedures more transparent;  and an end-to-end  automation of customs systems and processes had 
been put in place to ensure minimum human intr usion and physical contact between officers and 
stakeholders.  Efforts were far advanced to ensure  that a draft customs management bill (including the 
Customs Valuation Agreement provisions) would be passed into law.  Ghan a requested technical 
assistance to review the bill in order to ensure its WTO conformity. 
46. Ghana had commissioned a study to examine the fee structure of its import regime;  its 
recommendations would be used to bring it in conformity with the WTO guidelines.  Import 
restrictions were guided by public safety, health, security and/or morality considerations.  However, 
the current restrictions were being reviewed, revi sed, and updated to ensure their conformity with 
international agreements, pr otocols, and conventions. 
47. A public procurement law had been enacted to  improve transparency and reduce government 
expenditure and wastage in public procurement;  the law appeared to be working effectively.  Even 
though Ghana was not a signatory to any of the Plurilateral Agreements, it was looking into joining 
the GPA if this was in line with its development interests. 
48. Investments by foreigners were directed by policy. Certain businesses and services that did 
not require large capital outlays had been reserved to Ghanaians due to their limitations with regard to 
capital in investing in large ventures.  Foreigners ha d to meet basic requirements to engage in retail 
trading. Lotteries had been reserved solely for the Government to increase its revenue generation, but 
foreigners were allowed to invest in casinos. 
49. Ghana was a strong advocate of IPR protection;   it had made its IP legislation TRIPS 
compliant.  The Trade Sector Support Programme addressed IP issues.  Technical assistance was 
required in drafting regulations a nd their subsidiary legislative instruments.  Training for judges, 
customs officials, the police, and officials was al so needed.  Ghana was pl eased to see the Members' 
interest in this area and hoped that it would lead to technical assistance. 
50. Ghana's Trade Sector Support Programme addre ssed SPS issues.  However, Ghana requested 
technical assistance with respect to its notification obligations, especially on SPS and TBT.  Training 
for National Enquiry Points officials, as well as  institutional capacity building to update laboratory 
equipment, were needed. 
(iii) Sectoral policies 
51. Agriculture was and would be for some time to come the backbone of Ghana's economy.  
Ghana's agriculture was affected by erratic and unr eliable or insufficient rainfall and by low electric 
power generation.  The Government had embarked on a strategy to e xploit its vast and untapped water 
resources for irrigation.  Gravity drip irrigation syst ems had already been installed in some areas;  a 
new model of micro-irrigation system had been introduced under the Special Programme for Food 
Security;  manually operated lift pumps on existing we lls were being installed;  and new dams were 
being built and the existing ones rehabilitated to ca rry out year-round farming in the semi-arid areas, 
through irrigation.  Water harves ting through bonding, low-cost wate r-lifting devices, and the use of a 
prototype wind pump to lift underground wate r for irrigation, had been put in place. 
52. There had been a small number of cases of child labour in one or two sectors of Ghana's 
economy.  As a result, Ghana had established a na tional programme for its elimination.  If child 
labour existed at all, it was minimal;  a special co mmittee aimed at its complete elimination had been 
established. 
53. Tourism continued to contribute to Ghana's ag enda of generating growth and alleviating 
poverty.  The policy was aimed at developing pro-poor  and sustainable tourism in order to realize the 
potential of the sector by making Ghana a preferred and quality tourism destin ation in Africa, while 
preserving its cultural, historical , and environmental heritage. WT/TPR/M/194 
Page 14  
 
54. Elaborate and detailed answers to the written qu estions had been circulated;  replies to 
questions left unanswered due to time constraints an d late receipt would be provided in due course. 
55. Ghana was actively engaged in the DDA negotia tions.  Ghana's interests in services were 
being guided by its desire to attr act FDI and technological innovations;  in this regard, Mode 4 was of 
importance to Ghana.  Ghana expected its devel oped partners to open up sect ors and modes of supply 
of export interest to developing countries.  Therefore, Ghana exhorted Members to ensure a speedy and successful conclusion of the DDA. 
56. The discussant
 said that Members showed considerable  goodwill to work with Ghana in its 
efforts to make maximum use of the smooth functio ning of the multilateral trading system.  He hoped 
that Ghana would respond adequately to the few issues raised in this Review and to continue with its 
efforts towards capacity building.  
57. The representative of the EC  said that some of the EC's questions remained outstanding;  the 
EC was confident it would receive the replies in due course.  Ghana still needed to address its lack of 
energy supply;  the energy sector had faced difficu lties during the last few years, and further efforts 
towards efficiency and reform might be required.  Ghana's plans to introduce a ban on tomato paste 
imports seemed not to be enforced yet by any offici al decision;  the EC appreciated the intention to 
rectify the situation very soon.  The EC encouraged  Ghana to continue its economic and trade reform 
efforts, especially regarding economic diversific ation, decentralization, improving the foreign 
investment climate, trade facilitation, and efficient competition policy.  
58. The representative of the United States  looked forward to receiving replies to some of its 
unanswered questions.  It hoped to work ve ry closely with Ghana in the future.   
59. The representative of Japan  invited Ghana to participate in the TICAD meeting in May 2008.   
60. The representative of Cameroon  wondered whether the reforms envisaged by Ghana would 
put it out of step with the regional system when it came to signing the EPA or in the event of a major 
step forward in the ECOWAS integration pro cess.  Cameroon commended Ghana on the measures it 
had taken to combat corruption in the customs sector, but wondered whether it had assessed the 
impact of these measures.  
61. The representative of Colombia  hoped that Ghana would reply specifically and in writing to 
their questions provided in advance. 
62. The representative of Canada  requested further information on the levy imposed on blank 
video and audio cassettes;  on the Kimberly process;   and on the Extractive Industries Transparency 
Initiative.   
63. The representative of Ghana  said that Ghana had relied on the tremendous increases in 
revenue and on reports by Transparency Intern ational to assess its measures on fighting corruption 
within the customs administration;  over the last thre e years, there had been a consistent reduction in 
corruption.  Ghana was reviewing the Kimberly process and the Extractive Industries Transparency 
Initiative, and would provide more information.  Gh ana accepted Japan's invitation to attend the next 
TICAD meeting;  it appreciated Japan's support over  the years.  Ghana appr eciated the assistance 
provided by its development partners over the years,  and was confident that its trade and investment 
relations with its WTO partners would expand.  WT/TPR/M/194 
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VI. CONCLUDING REMARKS BY THE CHAIRPERSON 
64. This third Trade Policy Review of Ghana h as allowed us to significantly improve our 
understanding of its trade and rela ted policies, and their development since the previous Review in 
2001. Our discussions have greatly benefited from the participation of Mr. Kwaku Agyemang-Manu, 
Deputy-Minister of Trade, Industry, Private Sector  Development, and Presidential Special Initiatives, 
and his delegation. Our thanks are also due to our discussant, Ambassador Arsene Balihuta, for his 
insightful and stimulating contribution, and the engagement of many delegations. 
65. Members commended Ghana on its impressive economic performance over the past few 
years, with high real GDP growth rates, decreasing inflation, improved fiscal s ituation, and substantial 
progress in poverty reduction.  The strong growth of Ghana's economy has been supported by trade 
liberalization through, inter alia , reduction of tariff rates and the number of bands as well as the 
streamlining of customs procedures.  Ghana partic ipates in the Economic Community of West African 
States (ECOWAS), enjoys non-reciprocal trade preferences from various trading partners, and is finalizing its negotiations on an Economic  Partnership Agreement with the EC. 
66. Members welcomed Ghana's commitment to th e WTO, including the DDA negotiations, but 
encouraged it to increase its notifications unde r various WTO Agreements.  They indicated that 
extending the scope of tariff binding commitments, re ducing bound rates, and further reducing applied 
tariffs would contribute to better resource allocation.  Concerns were raised about the application of 
various other duties and charges on products on whic h they have been bound at zero. Members noted 
Ghana's generally liberal investment regime, but  asked for information about the few remaining 
restrictions.  Some Members also encouraged Gh ana to adopt a competition policy and to reduce the 
role of state-owned enterprises. 
67. Members appreciated Ghana's policy objective of increasing its regional and global 
integration, and strengthening and diversifying its  export base.  Further information was sought on 
development plans for the agriculture and manufact uring sectors and the administration of the new 
mining regime.  Some Members also requested clarification on the import restrictions maintained by 
Ghana, including prohibitions on SPS and TBT grounds.  Other issues of interest to Members 
included customs procedures and valuation;  curre ncy conversion and surrende r requirements;  export 
promotion and subsidies; incentive schemes, including fuel subsidies;  government procurement;  protection of intellectual propert y rights;  and services, including GATS commitments, financial 
services, telecoms, transport, and tourism. 
68. Members appreciated the responses provided by th e Ghanaian delegation, and look forward to 
receiving written answers to any outstanding questions. 
69. In conclusion, Members congratulated Ghana on the positive economic results it has achieved 
during the last few years. They en couraged Ghana to pursue its reform s, including of its trade regime, 
and to improve its multilateral commitments on goods  and services, with a view to enhancing the 
transparency and predictability of the regime, and adherence to WTO principles.  Members could help 
by keeping their markets open for products and services of interest to Ghana, and by providing 
technical assistance.  
 
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