Former Minister of Trade, Haruna Iddrisu, has expressed concerns about the potential negative impact of the import restriction bill on Ghana’s trade relations with other countries.
Mr. Iddrisu who is also the Member of Parliament for Tamale South constituency made this call in his contribution to the ongoing debate on the import restriction bill yet to be laid in Parliament.
“Mr. Speaker, my final caution as former minister of trade and industry, is you may, by this legislation, be inviting retaliatory measures from other countries. Other countries may decide that you have said okay I am restricting the import of rice and sugar so we will restrict the import of your processed okro into our trade regime. That will have consequences on the very balance of payment and export regime you want to regulate. Particularly, the euro,” he said.
The import restriction bill, if approved, would restrict the importation of 22 selected strategic goods into Ghana.
Mr. Iddrisu urged the government to carefully consider the potential ramifications of such a measure, particularly in terms of maintaining positive trade relations with Ghana’s partners.
The legislative instrument has suffered several setbacks already as the Minority had kicked against the laying of the bill in Parliament.