Trade progress slowed after Ghana failed to capitalize on opportunities presented by the Istanbul convention

According to Emmanuel Doni Kwame, Secretary General of ICC Ghana is that Ghana is potentially missing out on valuable trade advantages by not signing the Istanbul Convention. As per recent episode of eye on port, hosted by the Ghana Ports and Habour Authority, Emmanuel Doni Kwame noted that, without the conventions Ghana lack access to the Admission  Temporaire Admission (ATA) Carnet. This is a document which is usually  described as a passport for goods that permits temporary imports without bearing duties or taxes.

The Admission Temporaire Admission (ATA) Carnet permits businesses to move equipments and products across international boarders with less problem, providing a streamlined process that many nations have already embraced. On the other hand, companies in Ghana faces the weight of of navigating clumsy customs procedures and sometimes paying taxes on goods meant for only temporal use.

The Secretary General of ICC Ghana expressed concern that the current system requires the official of customs to conclude on case by case basis. There is a growing consensus among the experts of trades including international best practices like Istanbul Convention, is very essential for enhancing trade competitiveness.

Emmanuel Doni Kwame suggested that joining the ranks of 78 countries that already use the ATA Carnet, Ghana could simplify the logistics of trade in other to ensure that the local business can operate with more confidently. He again suggested that the strategic partners like the State Insurance company which already issues the ECOWAS Brown Card will assist in rolling out such a system.

Analysts point out that if there’s no predictable and simplified process offered by the ATA Carnet, Ghana might fall behind as global trades will base  on streamlined documentation. Emmanuel Doni Kwame is trying to show the challenges many emerging economies are facing including Ghana where we try to use the old ways of doing things upon which we expect to move forward.

READ: Learn Mini Import Business or buy your dream products from G&G Global Shipping Services

Even though our country Ghana has made progress in upgrading our digital and infrastructural capacities but there’s is still a gap that remains in our trade policies This means Ghana is not only updating its technology but also aligning its regulatory practices with international standards in other to secure its place in changing trade landscape rapidly.