The Trade Ministry has announced that government will soon be going hard on foreign firms that dump their products in Ghana.
Dumping occurs when manufacturers export a product to another country at a price below the price charged in its home market or below its cost of production.
The development provide unfair competition and kills local companies and announcing government’s resolve to clamp down on the disturbing development, deputy Trade Minister, Ahomka Lindsey said the Ghana International Trade Commission (GITC) will be charged to monitor and prevent the scourge from worsening.
Speaking at the 41st Annual General Meeting of the Ghana Chamber of Mines and Industry, he said “we are fully aware of the challenges of dumping within our market space and the GITC which used to be a tariff organization is being revamped under the law to provide the process where the commissioners can directly address areas of dumping.”
“This is the commission that the president is going to inaugurate and that will have the ability to hear from you the participants on areas where you feel the countries are dumping products within our country and we can under WTO rules take measures to protect where we could prove there is clear dumping,” he added.