Minister Holds Textile Industry Reforms Sensitisation Forum
Hon Alan Kyerematen, Minister for Trade and Industry led a Town Hall Sensitization and Education program for the implementation of the Textile Industry Reforms Programme in Accra. The meeting was to engage textile dealers on government's policy to manage importation and inflow of textiles so that the local industry is not unduly affected.
Textile smuggling is affecting the local textile industry in no uncertain terms which is a source of great worry to policymakers and officials alike. These pirated or counterfeit prints have inundated the local market and rendered indigenous textile companies uncompetitive.
The Ministry is implementing the following policies to enhance the competitiveness of the local Textiles Industry;
1. Introduction of Tax Stamp for locally manufactured and genuinely imported textiles.
2. Introduction of a Designated Entry Corridor
3. Revision of Task Force operation.
4. Collaboration with local textile manufacturers to ensure lower production cost.
5. Encourage textile importers to attract their foreign partners to set up factories in Ghana.
6. An Import Management Committee to be established to oversee imports of textiles in the country.
This initiative is a new strategy introduced by the Ministry of Trade & Industry, Ghana Revenue Authority and other stakeholders in the sector to deal with the influx of pirated textiles on the Ghanaian Market.
To this end, the Ministry is engaging textile dealers and officers of the Customs Division of the Ghana Revenue Authority at the various borders and entry points of the country about the new tax stamp. Hon. Kyerematen assured the Traders of government's full support.
Participants were happy that the Ministry of Trade and Industry has not given up on finding ways to curb this textile pirating. Thus, we are looking forward to a more stringent regime that will monitor inflows, charge duties, and in the process protect the local textile industry.