GRi BEF News Ghana 19 - 10 - 2001
Economic Planning Ministry to institutionalise round-table
Accra (Greater Accra) 19 October 2001-The Ministry of Economic Planning, Regional
Co-operation and Integration is to institutionalise a West Africa public-private sector round-table to assist the private sector to attract investments, increase exports and diversify the economy.
The sector Minister, Dr Paa Kwesi Nduom, told a press conference in Accra on Thursday that the forum would help to formulate and implement policies and programmes in line with the country's aim to expand trade and industrial relations with her sub-regional neighbours.
It will also assist to streamline activities of the administrative agencies in investment and export promotion.
The press conference was called to brief the media on the efforts of the ministry at promoting sub-regional economic co-operation.
Dr Nduom said the ministry was committed to playing a key role in promoting functional dialogue with the global economic communities, institutions and the private sector in the sub-region and beyond.
The ministry, he said, has a medium term plan on regional economic co-operation and integration with a focus on expanding trade through the creation of a single free trade area and borderless zone.
Others include development of a common infrastructure, monetary and fiscal co-operation, regional peace and security and private sector participation in the integration process.
"The medium term plan will also seek to strengthen the institutional and managerial capacity of the ministry and other related agencies," he said.
An inter-ministerial committee on integration has already been set up to co-ordinate policies and to implement the plan.
Also set up is the National ECOWAS Co-ordinating Committee to ensure implementation of programmes on a regular basis.
"It is our conviction that regional trade expansion would provide a stronger basis for an effective participation of Ghana and ECOWAS countries in the evolving linkages and inter dependence of production units."
The minister said regional co-operation would enable the country's industries to surmount obstacles of limited domestic market and take advantage of a large sub-regional market.
"Access to this type of market will enhance Ghanaian enterprise ability to access global funds."
Dr Nduom also touched on the ECOWAS Trade Liberalisation Scheme, which seeks to promote intra-community trade and the free flow of unprocessed goods and traditional handicrafts duty-free in member countries.
He said although the scheme is laudable its implementation has been fraught with problems especially from the ECOWAS French speaking neighbours.
To solve the problems, the ministry has held round table discussions with ECOWAS ambassadors and private sector operators to discuss ways to enhance and realise the full benefits of the scheme.
There were visits to Ghana, Togo and Burkina Faso borders to monitor the implementation of ECOWAS protocol on free movement of goods and persons.
Efforts are also underway in regional infrastructure networks in transport, telecommunications and energy sectors as well as ensuring regional peace and security and the adoption of a common ECOWAS passport by the end of 2005.
On the single currency, Dr Nduom said the government was not relenting in efforts to meet the convergence criteria, saying a national sensitisation committee to educate people on the issue has been set up.
"The attainment of the convergence criteria will ensure the viability and credibility of the common currency initiative," he added.
GRi…/
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