GITFIC supports government's economic benchmark values

Accra, March 3, GNA- The Ghana International Trade and Conference (GITFiC) has appealed for sanity within the trading space of Ghana’s economy by urging the business community to be accommodative and adjust to the government’s policies during the rough and tough periods.

 ‘’We are all involved in building our Motherland.’’ This should not depart from our day to day lives. Let’s trust in the system and be hopeful in our government.

This was in a statement signed by Mr Selasi Koffi Ackom, Chief Executive Office of GITFIC and copied to the Ghana News Agency in Accra on Thursday.

The statement added "This is a known fact that until recent times, Ghana had always recorded a trade deficit. A 30 per cent reduction for all goods and a 10 per cent reduction on vehicles is a decisive and satisfactory move to please all stakeholders. Such a pivotal decision by the

Government should be considered by the General Trading Community (GTC) as an interim measure and subject to review in future, depending on Economic-Trade indicators within the Import and Logistics Sectors of Ghana’s Economy."

The statement said considering the current global economic downturn as a result of the pandemic, economies around the world were critically revising and adjusting policies to keep governance afloat. 

"Any proper, prudent, and competent manager of any economy will now appear to be uncaring and insensitive to its citizens. In Ghana, we have enjoyed free electricity, water, nose masks, food, tax holidays from the Ghana Revenue Authority, collateral-free monies distributed to business communities, free jabs et al. These were unplanned expenditures by Government however, as a matter of necessity; Government had to find the money to provide these amenities at no cost to the citizenry.

"We believe a little bit of demand and a little bit of supply compliment an economy. One cannot pretend to be an advocate of a Single Continental Open Market and be scared of the influx of commodities from the other side of the continent. That is a facade and should not be entertained."

The GITFiC is a  private sector initiative working closely with the private sectors and the government sectors within the sub-region and the continent at large to drive the Continental Free Trade Agreement (CFTA), broader trade and finance development agenda of the continent, as defined in the A.U’s Agenda 2063, global trade issues, and other trade, trade finance, logistics, and finance agreements.