The Importers and Exporters Association of Ghana (IEAG) has welcomed the pledge by Professor Ransford Gyampo to ensure a regulatory environment that is both fair and firm for the shipping, import, and export sectors in Ghana. This commitment, made during a recent stakeholder engagement, has been lauded as a step in the right direction toward addressing long-standing concerns within the business community.
A Call for Balanced Regulation
IEAG has consistently advocated for a regulatory framework that supports business growth while maintaining industry standards. In response to Prof. Gyampo’s pledge, the Association emphasized the need for a regulatory system that fosters efficiency, transparency, and competitiveness in Ghana’s import-export industry.
“We are encouraged by the assurance from Prof. Gyampo to implement fair and firm regulations,” said the Executive Secretary of IEAG. “For too long, businesses have faced excessive bureaucratic challenges and inconsistent policies that hinder trade. A well-structured regulatory regime will create an enabling environment for businesses to thrive.”
Key Areas of Focus for a Fair Regulatory System
IEAG has outlined critical areas that must be addressed to ensure Ghana’s trade ecosystem remains competitive:
- Policy Consistency: Avoiding abrupt changes in trade policies that negatively impact businesses.
- Transparency in Regulatory Processes: Ensuring clear communication on trade guidelines, tariffs, and compliance measures.
- Reduction of Bureaucratic Delays: Streamlining port operations and customs procedures to facilitate faster clearance of goods.
- Protection Against Unfair Trade Practices: Preventing monopolistic tendencies and ensuring fair competition among industry players.
IEAG’s Commitment to Industry Collaboration
The Association expressed its readiness to work closely with Prof. Gyampo and other regulatory bodies to ensure that policies enacted reflect the realities of Ghana’s import and export sector. IEAG reiterated that its members, who form a critical part of the country’s trade industry, are eager to see regulatory policies that enhance rather than stifle business operations.
“We urge all stakeholders to work together in making Ghana a preferred trade hub. If regulations are fair, transparent, and effectively enforced, we can attract more investors and increase our competitiveness on the global stage,” the statement added.
Call to Action
IEAG encourages all industry players, including government agencies, shipping firms, and traders, to actively participate in ongoing discussions to shape a regulatory framework that supports business growth.
