EPA Will Kill Ghanaian Businesses - Dr. Graham

Dr. Yao Graham of the Third World Network (TWN) has urged the Economic Community of West African States (ECOWAS) not to sign the Economic Partnership Agreement (EPA) as it will negatively affect the domestic production within the sub-region. Speaking at a seminar at the Legon Centre for International Affairs and Diplomacy (LECIAD), Dr. Graham pointed out that the loss of import tariffs by Ghana through a signing of the agreement would be at least three times more than what it will cost Ghana to pay as tariffs on its export to European Union (EU) countries if the agreement is rejected. The EPA is a policy aimed at creating a free trade between the EU and African, Caribbean and Pacific Group of States (ACP). It aims at removing tariffs on imports between the EU and the ACP in conformity with World Trade Organistion (WTO) rules. Prior to ECOWAS� recent suspension of the signing of the EPA at its meeting in Yamoussoukro, Ghana and Cote d�Ivoire had initiated an Interim EPA, which Cote d�Ivoire had gone ahead to sign. This, the TWN executive said is not in the interest of countries in the sub-region as it would affect their [countries] ability to build industry. According to him, Ghanaians for instance will rely more on cheap EU imported goods which would flood the country with the signing of the EPA. Dr. Graham pointed out at the seminar that history has proven that no country has developed an industry through free trade stressing the protectionist policies of the states like the United States and Britain in the 19th Century has contributed in large proportions to the success their economies are currently experiencing. To him, it was ridiculous for Ghana to forgo import tariffs, which is certain and go in for aid which cannot be guaranteed. Against this backdrop, Dr. Graham called on the president, John Mahama, to demonstrate his commitment to developing the local industry by rejecting the EPA as producers in Ghana need to organize and fight for their interests.