WT/TPR/S/194/Rev.1 Trade Policy Review 
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II. TRADE AND INVESTMENT REGIMES 
(1) GENERAL FRAMEWORK  
1. Ghana is a unitary republic, with ten administrative regions and 138 districts.1  Its 1992 
Constitution separates the powers among the President , Parliament, and an independent judiciary.  
Legislative authority is with the unicameral Par liament, which currently comprises 230 members, who 
are elected by universal suffrage every four years.  Executive power is constit utionally vested in the 
President, who is elected by popular vote every four  years, with a maximum of two consecutive terms 
of office.  The next presidential elections are schedul ed for December 2008.  The President is the head 
of State, head of Government, and commander-in-chie f of the armed forces;  and appoints Ministers, 
subject to parliamentary approval.   
2. The judicial system consists of the Supreme Court (the highest court), the Court of Appeal, 
the High Court of Justice, and the lower courts.  Ther e are also circuit and district community courts.  
The Council of State, established by the Constitutio n, provides non-binding advice to the President, 
Ministers, Parliament, and other institutions.  The Council has 25 members:  11 are nominated by the President, 10 are nominated by the regions, and 4 ar e ex-officio members (a former Chief Justice, a 
former Chief of Defence Staff, a former Inspector of Police, and a former President of the National 
Council of Chiefs). 
3. The Government (Cabinet) initiates and formulates most legislative proposals.  Acts are 
passed by Parliament and given assent by the Presi dent.  Ministers may also issue administrative 
regulations in accordance with powers conferred to  them under specific legislation.  All laws and 
regulations are published in the Government Gazette .  The body of law consists of the Constitution of 
1992, laws enacted under the 1992 Constitution, orders  and regulations, laws enacted under previous 
constitutions, and customary or traditional law.  On ce ratified by Parliament, treaties and international 
agreements must be incorporated into domestic law before they have standing in Ghanaian courts.  
Recent changes in Ghana's trade legislation have b een driven mainly by a combination of autonomous 
policy initiatives and the need to comply with WTO Agreements.  The main changes in Ghana's trade-
related legislation since its last TPR in 2001 incl ude new laws on public proc urement and intellectual 
property rights, as well as new sectoral legislation in fisheries, mining, financial services, and communications (Table II.1). 
4. The Ministry of Trade, Industry, Private Sector Development and Presidential Special 
Initiatives
2, has overall responsibility for the formulation, implementation, and monitoring of Ghana's 
foreign trade policies.  Other agencies involved in trade policy formulation and implementation are 
the Ministries in charge of Finance (for taxation policy);  Food and Agriculture;  Communications;  Lands and Forestry;  Mines and Energy;  Tourism;  Environment,  Science and Technology;  Roads 
and Transport;  and Foreign Affairs.  The Cust oms, Excise and Preventive Services (CEPS), under the 
Ministry of Finance, is responsible for coll ecting import duties, as well as implementing customs 
procedures and controls. 
                                                     
 
1 The regions are:  Ashanti, Brong Ahafo, Central Region, Eastern Region, Greater Accra, Northern 
Region, Upper East Region, Upper West Region, Volta, and Western Region.  Each region is headed by a Regional Minister who is the direct  representative of the Government.  The districts are administered by 
assemblies of directly elected and appoi nted members.  Each assembly is h eaded by a District Chief Executive, 
appointed by the President and approved by the District Assembly. 
2 Hereafter referred to as the Mi nistry of Trade and Industry. Ghana WT/TPR/S/194/Rev.1 
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Table II.1 
Main trade-related laws, 2007 
Area Legislation 
Imports and exports Export and Import Act,1995;  Customs, Excise a nd Preventive Service (Management) Law, 1993; 
Customs, Excise and Preventive Service (Managem ent)(Rates, Duties and Ot her Taxes) Act, 1994 
Taxation Value Added Tax Act, 1998 
Free zones  Free Zone Act, 1995 
Export finance and 
promotion Ghana Export Promotion Council Decree, 1969;  Expor t Development and Investment Fund Act, 2000 
Investment  Ghana Investment Promotion Centre Act, 1994 
Standards Ghana Standards Board (Food, Drugs and Other Goods), General Labelling Rules, 1992; Ghana 
Standards (Certification Mark) Rules, 1970; Seeds (Certification and Standa rds) Decree, 1972;  Food 
and Drugs Law, 1992 
Quarantine Animals (Control of Importation) Ordinance, 1952;   Economic Plants Protection Decree, 1979;  
Prevention and Control of Pests and Diseases of Plants Act, 1965 
Government procurement Public Procurement Act, 2003 
Privatization and small 
industry Divestiture of State Interests (Implementation) La w, 1993;  National Board for Small-Scale Industries 
Act, 1981 
Competition Protection Against Unfair Competition Act, 2000 
Intellectual property 
protection  Patents Act, 2003; Industrial Designs Act, 2003;  Geographical Indications Act, 2003;  Trade 
Marks Act, 2004;  Layout Designs of Integrat ed Circuits Act, 2004;  Copyright Act, 2005 
Agriculture Cocoa Board Law, 1983;  Ghana Cocoa Board (Reorganization and Indemnity) Law, 1985;  
Cocoa Duty Decree, 1974;  Grains Development Board Act, 1970 
Forestry Forest Products Inspection Bureau Law, 1985;  Forest Protection Decree, 1974;  Timber Export 
Development Board Law, 1985;  Trees and Timber  Decree, 1974;  Forestry Commission Act, 1993 
Fisheries Fisheries Act, 2002 
Mining and oil Minerals and Mining Act, 2006;  Petroleum Decr ee, 1973;  Ghana National Petroleum Corporation 
Law, 1983;  Petroleum (Exploration and Producti on) Law, 1984;  Precious Minerals Marketing 
Corporation Law, 1989;  Petroleum Income Tax Law, 1987 
Financial services Bank of Ghana Act 2002;  Banking Act, 2004;  S ecurities Industry Law, 1993;  Securities and 
Exchange Commission Regulations, 2003;  Insurance Act, 2006 
Communications Postal and Courier Services Regulatory Commission Act, 2003 
Transport Ghana Civil Aviation Authority Law, 1983;  Gh ana Ports and Harbours Authority Law, 1986;  
Merchant Shipping Act, 1963;  Ghana Shippers' Council Decree, 1974 
Source:  WTO Secretariat, based on information provided by the Ghanaian authorities.  
5. A number of other important sector-specific statutory authorities and agencies fulfil trade-
related functions.  These include the Ghana Export Promotion Council, the Ghana Free Zones Board, 
the Cocoa Marketing Board (COCOBOD), the Ghan a Minerals Commission, and the Ghana Tourism 
Board.  Foreign investment is promoted and mon itored by the Ghana Investment Promotion Centre.  
Standards are the responsibility of the Ghana St andards Board, while quarantine regulations are 
handled by the Plant Quarantine Board and the Pl ant Protection and Regulatory Service.  The 
National Development Planning Commission is a constitutional body concerned with policies and 
strategies related to poverty reduction. 
6. The Government has establishe d a working relationship with the private sector, research 
bodies, consumer organizations, and other representatives of civil society.  In October 2004, Cabinet 
approved the Ghana Trade Policy, a policy documen t to provide broad guidelines and objectives for 
the Government's trade and related policies.3  In order to implement the Government's trade policy, a 
cross-ministerial Trade Sector Support Progra mme has been established, and meets weekly.  
                                                      
3 Ministry of Trade and Industry (2004). WT/TPR/S/194/Rev.1 Trade Policy Review 
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(2) POLICY OBJECTIVES  
7. Ghana's main economic policy objective is achieving middle-income status by 2015 and 
becoming a leading agri-industrial country, ther eby achieving a substantial reduction of poverty.4  
Sustainable economic growth is to be privat e-sector driven, and achieved through a conducive 
investment environment, macroeconomic stability, and pro-market reforms.   
8. Trade policy is a key tool in achieving th e Government's development goals.  The 
Government considers that, in view of Ghana' s relatively small domestic market, growth must 
necessarily come through increased inte rnational trade.  Expansion of foreign trade is to be achieved 
through, inter alia,  increased regional and global integr ation, streamlined export and import 
procedures, diversified and strengt hened export base, promotion of agricultural processing, new areas 
of comparative advantage, geographical diversif ication towards ECOWAS, and full utilization of 
preferential market access.   
9. In October 2004, Cabinet approved the Ghana Trade Policy, a policy document to provide 
broad guidelines and objectives for the Gove rnment's trade and related policies.5  The Trade Policy, 
which was developed in a comprehensive and incl usive process, is aimed at promoting increased 
competitiveness of local producers in domestic and in ternational markets.  It s implementation will be 
coordinated by the Trade Sector Support Programme.  
(3) INVESTMENT REGIME  
10. In line with its development strategy, Ghana seek s to promote the private sector as the engine 
of economic growth, with an enabling environment fo r private investors, both domestic and foreign.  
Several measures have been put in place for this purpose. 
11. Both domestic and foreign investors have to re gister their companies in accordance with the 
Companies Code of 1963 or the Partnership Act of 1962.  While there is no specific legislation on 
domestic investment, provisions on foreign invest ment are laid down in the Ghana Investment 
Promotion Centre (GIPC) Act of 1994 and in va rious sector-specific laws and regulations.  Any 
enterprise with foreign participation must regist er with the GIPC, indicating its activity and the 
amount of foreign capital invested.  Registration usua lly takes five working days.  Registration fees 
are zero for wholly Ghanaian owned companies, US$1,000 for joint-ventures, and US$2,500 for foreign-owned companies.
6   Registration must be renewed every two years for a fee of US$1,500.  
Additional fees apply for work permits for foreigners.  In addition, foreign inv estors have to prove the 
transfer of the required capital, and submit inform ation on the proposed investment project, including 
equity structure, major activities, employment, and environmental impact. 
12. The GIPC Act excludes foreign investors from part icipating in four economic sectors:  retail 
trade;  operation of taxi and car rental services with fleets of less than ten vehicles;  lotteries;  and the 
operation of beauty and barber salons.  Outside these areas, FDI is subject to a minimum capital of 
US$10,000 for foreign investors in joint-ventur es, and US$50,000 for projects wholly owned by 
foreigners.  Trading companies, whether partly or  fully foreign-owned, require a minimum foreign 
equity of US$300,000 and must employ at least ten Ghanaians.7  The GIPC Act guarantees foreign 
                                                      
4 These objectives are la id down in Government of Ghana (2003), Ministry of Trade and Industry 
(2004), and National Development Planning Commission (2005). 
5 Ministry of Trade and Industry (2004). 
6 Higher fees apply to foreign-owned trading compan ies (US$5,000) and establishments in the tourism 
subsector (between US$1,000 and US$10,000, depending on investment volume). 
7 The minimum foreign capital limits do not apply to enterprises established solely for export of goods 
of Ghanaian origin. Ghana WT/TPR/S/194/Rev.1 
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investors "unconditional transferability" of dividends or net profits, and remittance of proceeds on sale 
or liquidation of their enterprises.  The authorities indicate that a revision of the GIPC Act is being 
prepared to revise minimum capital requirements an d specify sectoral exemptions and incentives.   
13. Specific rules apply in the minerals, fishing, maritime transport, and postal services 
subsectors, as well as to companies listed on the Gh ana Stock Exchange.  There is compulsory local 
participation in mineral and oil projects, whereby the Government acquires a 10% equity in ventures, 
at no cost. Non-Ghanaians are not allowed to engage  in small-scale mining.  As established by the 
Fisheries Act (2002), ownership of fishing operations is  restricted to Ghanaian citizens, but foreigners 
may own up to 50% of vessels engaged in tuna fishing.  Only Ghanaian companies can engage in 
domestic maritime cabotage.  State-owned Ghana Po st Company has the exclusive right to convey 
letters, postcards, printed ma tters, and small parcels up to 100 g.  Furthermore, the share held by any 
single external resident in a company listed on th e Ghana Stock Exchange is limited to 10%, and the 
maximum level of foreign ownership for each firm  is 75%.  Foreign owne rship limitations in the 
insurance subsector were abolished with the en try into force of a new Insurance Act in 2006. 
14. Article 266 of the Constitution establishes that foreigners may not own land in Ghana.  
However, they may lease residen tial, commercial, industrial, or  agricultural land for renewable 
periods of up to 50 years.  The strengthening of la nd administration is currently the subject of an 
intensive reform programme.  It has been estimate d that about 80% of lands in Ghana are held by 
customary authorities who provide land fo r residential or other economic activities.8 
15. Investment incentives are available to foreigners  and Ghanaians alike. Certain machinery and 
equipment imported for investment purposes are eligible for reduced import tariffs and VAT rates 
(Chapter III(2)(iii)(d)). Tax rebates are available for investments in specific regions (Chapter III(4)(i)(c)).  Special investment incentives are also available to en terprises located in free 
zones (Chapter III(3)(v)).  The Ghan a Investment Fund (GIF) aims to provide medium- and long-term 
credit facilities to investors through d esignated financial institutions.   
16. Ghana has ratified investment promotion an d protection agreements with a number of 
countries.
9  These agreements are seen as complementing th e investment legislation as a means of 
attracting foreign investment.  The Ghana Arbitrat ion Centre, a private initiative established in 1996, 
provides a forum for the resolution of disputes with a view to bolstering investor confidence.  Ghana 
is also a member of the Multilateral Investment Guarantee Agency (MIGA) and the International 
Centre for the Settlement of Investment Disputes (ICSID). 
(4) TRADE AGREEMENTS  
(i) World Trade Organization  
17. Ghana is an original Member of the WTO.  It extends at least MFN treatment to all its trading 
partners.  The WTO Agreements have not been directly incorporated into Ghana's domestic 
legislation and cannot be invoked before national courts.  Ghana has signed the Fourth and Fifth 
Protocols to the GATS.  It is not party to the Information Technology Agreement or any of the plurilateral agreements c oncluded under the WTO. 
                                                     
 
8 Antwi (2006). 
9 Agreements have been signed and ratified with :  China, Denmark, Germany, Malaysia, the 
Netherlands, Switzerland, and the United Kingdom.  Agreemen ts have been signed, but are not yet ratified with:  
Benin, Burkina Faso, Côte d'Ivoire, Cuba, Egypt, France, Guinea, India, Mauritania, South Africa, the United States, Yugoslavia, and Zambia. WT/TPR/S/194/Rev.1 Trade Policy Review 
Page 14 
 
 
18. Ghana is an active participant in the Doha nego tiations.  Together with other Members, it has 
submitted proposals on agriculture and on market access for non-agricultural goods.10  In agriculture, 
Ghana has called for an exemption of tariff reduc tion commitments for poor and highly indebted 
(IDA-only) countries.  In non-agricultural market access, Ghana has called for the application of a 
simple and transparent formula that would substa ntially reduce tariff peaks and tariff escalation and 
address the special needs of developing countries.   At the Hong Kong Ministerial meeting in 
December 2005, Ghana called upon large Member s to increase their efforts in the ongoing 
negotiations, and underlined the importance of sp ecial and differential treatment for developing 
countries and of negotiating an aid for trade package.11 
19. Ghana has not been involved in any disputes under the WTO.  It has been a third party in one 
case, relating to the EC's regime for the importation, sale, and distribution of bananas.12 
20. Ghana's trade-related technical assistance need s are presented in Annex II.1, and Table II.2 
shows its notifications since its last TPR. 
Table II.2 
Selected notifications to the WTO, 2007 
WTO Agreement Description of requirement  WTO document number (latest if recurrent) 
Agreement on Agriculture   
Articles 10 and 18.2 Export subsid ies G/AG/N/GHA/2, 21 August 2001 
Committee on Trade and Development   
Enabling Clause ECOWAS revised treat y  WT/COMTD/N/21, 26 September 2005 
Agreement on the Implementation of GATT Article VI  
Article 16.4 Semi-annual reports G/ADP /N/85/Add.1/Rev. 3, 20 October 2004 
Understanding on the Interpretation of GATT Article XVII (State-trading) 
Paragraph 1 New and full notification G/STR/N/10/GHA, 19 April 2004 
Agreement on Import Licensing Procedures  
Articles 1.4(a), 8.2(b), and 7.3 Notifica tion  G/LIC/N/1/GHA/1 and 3, 21 April 2004 
Decision on Notification Procedures for Quantitative Restrictions  
 Quantitative restrictions G/MA/NTM/QR/1/Add.10, 28 March 2006 
Agreement on Rules of Origin    
Article 5  Notification  G/RO/N/44, 6 May 2004 
Agreement on Subsidies a nd Countervailing Measures 
Article 25.1  New and full notification G/SCM/N/95/GHA, 20 April 2004 
Article 25.11 Semi-annual reports G/ SCM/N/81/Add.1/Rev.4, 27 April 2004 
Agreement on Technical Barriers to Trade  
Article 10.6 Notification of technical re gulations WTO documents G/TBT/N/GHA/1-4, 
18 January 2005, 30 August 2005, 
13 October 2006, and 11 February 2007 
Annex 3C Notification of accepta nce G/TBT/CS/N/144, 30 May 2002 
Article 15.2 Implementation and administration of 
the Agreement G/TBT/2/Add.76, 29 October 2003 
Article multiple  Notification  G/TBT/N/GHA/3, 13 October 2006 
Agreement on Trade-Related Aspect s of Intellectual Property Rights  
Article 63.2 Laws and regulations IP/N/1/GHA/1, 22 April 2002 
Source : WTO documents.  
                                                      
10 WTO documents TN/MA/W/27, 18 February 2003;  TN/AG/GEN/5, 29 July 2003;  and 
TN/MA/W/40, 11 August 2003. 
11 WTO document WT/MIN(05)/ST/106, 16 December 2006. 
12 WTO document WT/DS27/AB/R, 9 September 1997. Ghana WT/TPR/S/194/Rev.1 
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(ii) Preferential trade agreements 
21. Ghana is a founding member of the Economic Community of West African States 
(ECOWAS).13  The Treaty establishing ECOWAS was signed on 28 May 1975.  ECOWAS' main 
objective is to promote cooperation and integration within the West African subregion through:  the 
removal of customs duties and tax es having equivalent effect;  esta blishment of a common external 
tariff;  harmonization of economic and financial policies;  and creati on of a single monetary zone.  In 
1993, the ECOWAS treaty was revised to accelerate th e process of integration.  The revised treaty 
seeks to introduce the principle of supranationalit y in the application of decisions;  establish 
supranational institutions to monitor application of  decisions, and arbitrate as necessary;  extend the 
scope of Community programmes (such as harmonizati on of economic and financ ial policies) to other 
areas;  and establish a Community levy on goods from third countries to generate resources for 
financing regional integration.  The ECOWAS instit utions are the Authority of Heads of States and 
Government, the Council of Ministers, the Communi ty Parliament, the Economic and Social Council, 
the Community Court of Justice, and a Commission based in Abuja.14 
22. ECOWAS members, including Ghana, have b een implementing a trade liberalization scheme 
(TLS) since 1990, with the initial objective of estab lishing a free-trade area by removing all barriers 
on all goods traded between member states by 1 January 2000.  A common external tariff (CET) was to be accepted by 1 January 2004 to finalize the es tablishment of a Customs Union.  However, the 
timetables for the implementation of the TLS and adop tion of the CET have been delayed.  During the 
transition period, non-WAEMU ECOWAS countries should gradually align their tariffs on the 
WAEMU CET.  Negotiations on the final stru cture of the ECOWAS CET are still ongoing 
(October 2007), in particular with regard to product classification.  Non-tariff measures have not yet 
been harmonized at the ECOWAS level.  Free trade in services is also an objective, but the related 
liberalization programme is yet to be set up. 
23. As at April 2007, the free-trade area component had reportedly been implemented fully by 
Ghana and nine other ECOWAS member states (Ben in, Burkina Faso, Côte-d'Ivoire, Mali, Niger, 
Nigeria, Senegal, Sierra Leone, and Togo).  Comp anies that wish to benefit from tariff-free access to 
other countries that have implemented the free- trade area must register with the ECOWAS 
Secretariat.  The members seek to, inter alia , remove all physical and non-physical barriers to intra-
ECOWAS trade (including remaining tariffs); er adicate rigid border formalities; enforce the 
application of ECOWAS prescribed customs procedures; and adopt a common ECOWAS passport.  
24. The level of intra-ECOWAS trade is very low (only 11% of extra-ECOWAS trade) despite all 
the measures taken for economic integration purposes.   For instance, in 2004 and 2005, less than 3% 
of Ghana's exports went to other ECOWAS member states (mainly Guinea, Benin, and Nigeria) and only about 2% of its imports  originated from ECOWAS member states (mainly Togo).  This low level 
of subregional integration can be attributed to, inter alia , the low degree of implementation of the 
TLS, including cumbersome procedures in meeting rules of origin criteria;  similar production 
structures of ECOWAS members;  and the poor d esign and under-financing of a fiscal compensation 
mechanism intended to support the regional integra tion process.  Furthermore, significant hindrances 
result from several non-tariff barriers to intra-EC OWAS trade such as bureaucracy, corruption in 
Customs, slow port operations, poor roads and communications infrastructure between countries, 
wastage and theft at ports, poor storage conditi ons, harassment by police and other personnel at 
                                                     
 
13 The other members of ECOWAS are:  Benin, Burk ina Faso, Cape Verde, Côte-d'Ivoire, The Gambia, 
Guinea, Guinea-Bissau, Liberia, Mali, Niger, Senegal,  Sierra Leone, and Togo.  Mauritania withdrew its 
membership in 2000. 
14 The Executive Secretariat was transformed into  the Commission in January 2005.  The Commission 
is headed by a President assisted by a Deputy and seven other commissioners. WT/TPR/S/194/Rev.1 Trade Policy Review 
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innumerable road blocks15, and inter-country payments difficulties.16  Addressing these problems 
would increase intra-regional competition and trade fl ows, and make the sub-region more attractive 
for inflows of domestic-market-seeking foreign investment. 
25. Efforts towards monetary integration in th e subregion have been taking place under the 
ECOWAS Monetary Co-operation Programme (EMCP)  adopted in 1987.  The programme was aimed 
at improving and strengthening subregional payments under the West African Clearing House (now West African Monetary Agency);  introducing limited currency convertibility;  and establishing a 
single monetary zone, and eventually a common centr al bank and single currency by 2000.  However, 
due to slow implementation, the single monetary  union (single currency and central bank) was not 
realized by 2000.  Hence, a two-track approach w as adopted to accelerate the process.  The first phase 
involved the creation of a second monetary z one, the West African Monetary Zone (WAMZ)
17, 
amongst non-WAEMU ECOWAS members by 2003;  the second phase involved  the merger of the two subregional monetary zones, with a common central bank and currency (the Eco) originally 
planned for 2004.  Certain convergence criteria were to be adhered to before the creation of WAMZ.  
The primary criteria included:  an inflation rate of  5% or lower;  gross foreign exchange reserves 
equivalent to at least six months of imports;  cen tral bank financing of budget deficit not to exceed 
10% of the previous year's tax revenue;  and the ratio of budget deficit to GDP (excluding foreign 
grants) not in excess of 4%.  A number of secondary cr iteria are also in place.  Though some efforts 
have been made, progress towards the second monetary  zone has been hampered by the inability of 
countries to meet the convergence criteria.  This  slow progress necessitated the postponement of the 
creation of the second monetary zone from January 2003 to July 2005, and then to December 2009.
18   
26. ECOWAS has been engaged in other trade facilitating projects, including roads and 
telecommunication infrastructure;  the introduction of  a regional third-party motor vehicle insurance  
card;  the establishment of an inter-state road tran sit scheme;  the abolition of visa requirements for all 
countries in the sub-region, coupled with the introduction of an ECOWAS travel certificate;  environmental programmes;  and regional peace and security programmes.
19  ECOWAS is also one of 
the regional economic communities identified as an implementing agency under NEPAD.   
(iii) Other arrangements 
27. Ghana is eligible for various non-reciprocal trade preferences from sev eral other countries, 
including under the Generalized System of Pref erences (GSP);  the Cotonou Agreement with the 
European Communities;  and the United States ' African Growth and Opportunity Act.   
(a) Cotonou Agreement 
28. Ghana is signatory to the Cotonou Agreement between the EC and 78 African, Caribbean and 
Pacific (ACP) states, which entered into force in April 2003.  The Agreement builds upon three 
                                                      
15 For example, the ECOWAS Secretar iat estimates that there are 69 ch eckpoints on the 1,000 km road 
between Lagos and Abidjan (ECOWAS online information, "Achievements of ECOWAS:  Market Integration 
Programme".  Viewed at: http://www .sec.ecowas.int/sitecedeao /english/achievements-1. htm [18 April 2007]). 
16 Antwi-Danso (2007) and World Bank (2001). 
17 The WAMZ comprises The Gambia, Ghana, Guinea,  Nigeria, and Sierra Leone.  Liberia has 
expressed an interest in joining.  A West-African Mone tary Institute (WAMI) was established in 2000 to carry 
out functions leading to the establishment of a West-African Central Bank;  the WAMI is based in Accra. 
18 Bank of Ghana (2005).  The prerequisites for the introduction of a common currency among WAMZ 
members are:  full convertibility of currencies, full capital acco unt liberalization, and full compliance with the 
ECOWAS customs union requirements. 
19 "Achievements of ECOWAS:  Market Integration Programme". Ghana WT/TPR/S/194/Rev.1 
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interlinked pillars:  a political dimension;  devel opment;  and trade.  Political dialogue is focused on 
issues of mutual concern, such as arms trade, excessive military expenditure, drugs and organized 
crime, and ethnic, religious or racial discrimin ation. The dialogue also  encompasses a regular 
assessment on human rights, democratic principles, the rule of law, and good governance. 
29. Under economic and trade cooperation, the AC P states benefit from non-reciprocal trade 
preferences during an interim period (2001-07).20  These include duty-free treatment on non-
agricultural, processed agricultural, and fishery products, subject to a safeguard clause.  For certain 
products (bananas, beef and veal, sugar, and ri ce), the EC provides special market access under 
"commodity protocols".  The preferential rul es of origin contain product-specific requirements21, and 
allow for regional cumulation.   
30. At the end of the interim period (31 December 2007 at the latest), these unilateral preferences 
will be replaced by reciprocal economic partne rship agreements (EPAs) between the EC and 
individual ACP countries or groups of countries.  The primary objectives of the EPAs are to foster sustainable development and to integrate the AC P states into the world economy, while fully 
complying with WTO rules.  The basic guiding prin ciple for EPAs is to build on and reinforce ACP 
regional integration processes, and provide for appr opriate differentiation and asymmetry to take 
account of the level of development and their so cio-economic impact on ACP countries.  EPAs will 
provide for the progressive elimination of tariffs and non-tariff measures between the parties, on both 
goods and services, and are expected to address other trade-related issues.
22  Development concerns 
will be reflected through flexibility vis-à-vis  depth of liberalization, its asymmetry, length of transition 
periods, trade coverage and exceptions, and throug h assistance from the EC.  All EPA negotiations 
started formally in September 2002 to define their format, structure and principles, and horizontal 
issues of interests to all parties.  Ghana par ticipates in the EPA negotiations as a member of 
ECOWAS. 
(b) AGOA 
31. Ghana is eligible for various trade pref erences under the U.S. African Growth and 
Opportunity Act, contained in the U.S. Trade and Development Act 2000, as amended.23  The AGOA 
increases the product coverage of the U.S. GSP sc heme, but only for African countries.  Under the 
AGOA, eligible countries qualify for duty-free and quot a-free access to the U.S. market for a range of 
products (except for wearing apparel), including sel ected agricultural and textile products until 2015.24  
To be eligible, African countries must make progress in:  establishing a market-based economy;  
developing the rule of law and political pluralism;  eliminating discriminatory barriers to U.S. trade 
and investment;  protecting intellectual property;   combating corruption;  protecting human and 
worker rights;  and removing certain practices of child labour.25   
                                                      
20 The agreement is currently under a WTO waiver, approved at the Doha Ministerial Meeting, which 
will expire on 31 December 2007 (WTO docu ment WT/MIN(01)/15, 14 November 2001). 
21 The requirements relate to maximum import content, specific processing criteria, and change in tariff 
headings. 
22 These may include sanitary and phytosanitary measures, intellectual property rights, public 
procurement, competition policy, investment, trade and environment, trade and labour standards, consumer 
policy regulation and consumer health protection, st andardization and certification, and food security. 
23 The AGOA was last revised in December 2006. 
24 Until its amendment in 2004, the AGOA was due to expire in 2008.  
25 African Growth and Opportunity Act online in formation.  Viewed at: http://www.agoa.gov/ 
index.html. WT/TPR/S/194/Rev.1 Trade Policy Review 
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32. AGOA eligibility does not automatically conf er eligibility for the "wearing apparel" 
provisions;  these are governed by a separate set of conditions and associated rules of origin.26  To 
export apparel (and certain textile items) to the U.S. duty-free under the AGOA, countries must 
implement a "visa system" that ensures compliance with the required rules of origin.  Ghana was 
declared eligible for the preferences under the apparel provisions in March 2002. 
(c) AEC and AU 
33. Ghana is member of the African Economic Community (AEC), established by the Abuja 
Treaty in June 1991.  The treaty provides for the crea tion of an African Common Market in six stages 
over a 34-year period.  A key aspect of this integr ation process is the coordi nation and harmonization 
of tariff and non-tariff measures, among various sub -regional trade groupings (referred to as regional 
economic groupings), in order to create a continen tal customs union.  The AEC was established under 
the Organization of African Unity (OAU), which wa s succeeded by the African Union (AU).  The AU 
was established to, inter alia,  accelerate the process of regional integration, in order to enable Africa 
to play its "rightful role" in the global economy,  while addressing other forms of social, economic, 
and political problems on the continent.   
34. One of the major initiatives under the AU is th e New Partnership for African Development 
(NEPAD).  The NEPAD's goals are to halt the marginalization of Africa in the globalization process;  eradicate widespread and severe poverty;  and promote accelerated growth and sustainable 
development.  Trade and trade-related measure s outlined under the NEPAD to promote African 
exports include:  promotion and improvement of regional trade agreements;  inter-regional trade 
liberalization;  harmonization of tariffs, rules of origin, and product standa rds; reduction of export 
taxes, and of costs of transactions and operati ons; and promotion of African exporting and importing 
companies.  The NEPAD also aims to ensure th e active participation of African countries in the 
multilateral trading system.  In this respect, it supp orts the view that multilateral trade negotiations 
must take into account Africa's special concerns.  In  addition, African states are encouraged to tackle 
supply-side impediments to export production; dive rsify exports;  give the necessary political impetus 
to deepen the various integration initiatives on th e continent;  and secure and stabilize preferential 
treatment by key developed country partners. 
(d) GSP and GSTP 
35. Ghana benefits from non-reciprocal preferen tial treatment from various industrialized 
countries under the Generalized System of Preference s (GSP).  Ghana is also a signatory to the Global 
System of Trade Preferences among developing countries.   
                                                     
 
26 Under the AGOA amendments, the waiver from the normal rules of origin for wearing apparel, as 
applicable to "lesser developed beneficiary countries", was extended from September 2004 to September 2007. Ghana WT/TPR/S/194/Rev.1 
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ANNEX II.1:  TRADE-RELATED TECHNICAL ASSISTANCE 
(1) GENERAL NEEDS  
1. As a relatively active WTO Member, Ghana has benefited from a number of WTO technical 
assistance and capacity-building projects as well as those provided by UNCTAD, UNIDO, ITC, and 
the World Bank.  Ghana's technical assistance require ments relate to:  (i) the harmonization of laws 
and regulations with WTO requirements;  (ii) di ssemination of information about the WTO and the 
multilateral trading system to build support for trade liberalization;  (iii) compliance with notification 
obligations;  (iv) training of officers to participate actively in multilateral, regional, and bilateral trade 
negotiations;  (v) establishment of institutional structures to facilitate the implementation and 
observance of trade agreements;  and (vi) the fo rmulation of policies that allow maximum benefit 
from trade reforms and the application of the WT O Agreements, and that minimize any associated 
costs. 
2. Customs reform and capacity-building have been long-standing items in Ghana's trade policy.  
The implementation of a transparent, WTO-consistent  customs framework has been a priority in order 
to facilitate trade and maximize revenue.  Ghana now applies the WTO Agreement on Customs 
Valuation, although it continues to use referenc e values for some items, mainly second-hand cars.  
The main technical assistance needs in relation to va luation are:  the training of officials in the 
fundamental principles underpinning the Agreement,  in particular the various valuation methods; 
training of officers to identify pirated and counterfe it good at the border, and to ensure that imported 
goods meet the applicable standards and technical  regulations as well as sanitary and phytosanitary 
requirements.  The delivery of technical assistance in these areas would be part of a wider programme 
for the development of customs capacity, which is being supported by the WTO, bilateral donors, and 
other international institutions.  
3. The development and implementation of sta ndards and other technical requirements, 
including sanitary and phytosanitary  measures, are a key priority for Ghana.  Although the Ghana 
Standards Board and the Ministry of Food and Agricu lture act as focal points, they are hampered by a 
number of factors, including the lack of appropria te domestic laws and regulations and testing 
equipment, which make it difficult for the releva nt authorities to control the quality of imported 
products, putting at risk food, animal, and plant h ealth and security, as well as the general safety of 
manufactured products.  Furthermore, this impedes the efforts of exporters to meet applicable 
international standards, diluting the market acces s commitments assumed in favour of Ghana under 
bilateral, regional, and multilateral agreements.  Technical assistance and capacity-building projects 
could focus on assisting Ghana to pa rticipate in the work of the inte rnational standardization bodies 
and to enact relevant rules a nd regulations;  awareness creation for target groups, such as product 
associations, manufacturers, producers, exporters, officials of relevant government ministries, departments and agencies, and parliamentarians;  th e provision of testing equipment and training of 
officials to undertake analysis of pesticide residue , micronutrients, mycotoxins, metallic contaminants 
in water, food additives used as adulterants, compos ition of fatty acids, and energy content in foods.  
Assistance geared towards the accreditation and certification systems would also be beneficial.    
4. As a result of assistance provided by WIPO a nd the WTO, Ghana has amended existing laws 
and passed new ones to be TRIPS compliant.  However, assistance is needed to draw up 
implementing legislation, and to create awareness, especially among officials and institutions required 
to enforce the new disciplines, particularly magist rates, judges and customs officials, who should be 
able to seize counterfeit and pirated goods at the borde r.  The provision of equipment to automate the 
operations of the Registrar General's office and other focal points for the implementation of the 
TRIPS Agreement would also be beneficial.   WT/TPR/S/194/Rev.1 Trade Policy Review 
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5. Ghana does not have legislation on continge ncy trade remedies.  The Government and 
sections of Ghanaian industry are of the view that  increased liberalization has resulted in the dumping 
of products on the Ghanaian market causing injury to a number of industries.  Technical assistance in 
this area could focus on the enactment of WTO-consis tent legislation and the training of officials to 
conduct investigations and apply the legisl ation consistently with WTO rules.   
6. Ghana is involved in trade negotiations with regional partners in the context of ECOWAS; 
with the EC for an economic partnership agreemen t to replace the Cotonou Agreement; and within the 
WTO under the Doha Development Agenda.  The di fferent negotiating mandates and timetables are 
placing considerable stress on Ghana's institutional capacities.  Technical assistance could focus on 
enhancing the negotiating capacities of Ghanaian officials by providing training in negotiating 
techniques and by ensuring that officials are abre ast of developments in the multilateral trading 
system.     
7. Ghana's participation in the work of the WTO generally, and in negotiations specifically, is 
hampered by its lack of ade quate representation in Geneva1, as well as by a shortage of staff trained in 
WTO matters.2  An inter-departmental coordination committee on the WTO exists, and a WTO 
reference centre was established in the ministry in  charge of trade in October 1997.  Assistance to 
enable the Government to make better use of in formation and on-line technology may alleviate some 
of its problems keeping abreast of the WTO work programme:  training on how to access and use the 
Integrated Database, COMTRADE, and other data bases would be beneficial.  Ghana also needs 
assistance in making notifications under vari ous WTO Agreements in a timely manner. 
(2) SUPPLY -SIDE CONSTRAINTS  
8. Supply-side constraints affecting Ghana are both generic (cross-cutting) and sector-specific.  
The former include the high costs and unreliability of certain public services, notably electricity and telecommunication services, and of private credit:  bank lending rates ranged up to 33.5% in 
September 2007.  The Tema and Takoradi ports a nd the recently renovated Kotoka International 
Airport in Accra provide Ghana with gateways to  export markets.  The role of these facilities in 
Ghana's trade infrastructure could be enhanced  through specific support for initiatives to reduce 
transport costs, including reforms in port manage ment, road maintenance and trade facilitation, 
notably through the reform of customs practices and procedures.  Many of these constraints are 
singled out for action in Ghana's Trade Policy and tackling them will support traditional exports such 
as cocoa, minerals and timber, as well as sectors identified as having an important growth potential, 
notably tourism and non-traditional agricultural exports  such as pineapples, cashews, and bananas.   
9. Most sector-specific constraints are discussed in  detail in Chapter IV.  The most frequently 
identified needs are training in modern production and marketing techniques, and the provision of 
                                                     
 
1 Until recently, Ghana had only one official assigne d to the WTO.  There are currently two officials 
assigned to the WTO, but they also follow the work of other international economic organizations.  
2 Ghana benefited from 31 technical assistance (TA) activities in 2005 and 21 in 2006, organized 
mainly at a regional level.  As of August 2007,  Ghana had benefited from:  a national technical mission on the 
Trade Policy Review Mechanism in Ghan a, 21-23 February;  regional training course on negotiation skills in 
Ghana, 19-23 March;  course on WTO dispute settle ment mechanism in Geneva, 16-20 April;  regional 
workshop on trade facilitation in Kenya, 16-20 April;  regional workshop on government procurement in Ghana, 
25-27 April;  preparatory workshop for University profe ssors involved in the regional trade policy course for 
English-speaking African countries in Geneva, 30 April-2 May;  regional training course on the implementation 
of the TBT Agreement in Botswana, 19-21 June;  regional workshop on TRIPS, 3-5 July;  global workshop on 
the Government Procurement Agreement in Geneva, 10-12 July;  and the WTO/ECOWAS Short Trade Policy Course in Ghana, 20-22 August. Ghana WT/TPR/S/194/Rev.1 
 Page 21 
 
 
physical support facilities.  For example, the fish eries subsector would benefit from cold storage 
facilities; and the fruits and vegetables subsector s from better production, harvesting, and storage 
techniques, and ensuring that the products meet st andards in major markets.  In addition, Ghanaian 
exporters would generally benefit from better information about market access opportunities, 
including available trade preferences.   
10. The Government sees its privatization programme  and the reform of state-owned enterprises 
as a means of addressing some of these supply-side  constraints, and as a necessary complement to 
trade liberalization in order to create a suitable e nvironment for private-sector-led growth.  Ghana's 
objective is to become a leading agri-industrial count ry and achieve middle-income status by 2015.  In 
its Poverty Reduction Strategy II, the Government has committed itself to increase spending to boost 
economic growth.  It has also adopted a series of measures to promote foreign direct investment and 
increase trade opportunities.  Free zones have been set up and streamlined procedures for registering 
companies have been adopted;  a one-stop shop for foreign investors has been set up to reduce costs 
and delays.  A number of incentives are being provided to attract foreign direct investment into critical areas, including the energy, financial, and telecommunications sectors.  Commercial lending 
rates are relatively high, and the Government has set up the Export Development Fund (EDF) to 
provide loans to the private sector at reasonable rat es.  Technical assistance could focus on helping the 
Government to harmonize incentives provided and train officials to ensure that the various initiatives 
are implemented efficiently with due account ta ken of WTO commitments.  Regarding free zones, 
technical assistance could help the Government devi se strategies for enhancing linkages between the 
zones and the rest of the economy.   
(3) I
NTEGRATION OF TRADE INTO DEVELOPMENT PLANS  
11. Until recently, Ghana did not have a coherent trad e policy;  policies were scattered in various 
documents making it difficult to have an overall view  of the direction of the Government's trade 
strategies, and the linkages between trade policy an d the broad economic development plans.  Ghana 
published its first trade policy in 2004.  The docum ent is comprehensive and represents a determined 
effort to place trade at the centre of the country's de velopment plans.  It highlights the need for a fair 
and transparent import and export regime that w ould enhance production capacity for domestic and 
export markets and attract foreign direct investme nt, as well as the need to adopt trade-facilitating 
measures, including transparent and efficient pro cedures for customs clearan ce.  Technical assistance 
could help to support the implementation of th e various policies outlined in the document.