The Ghana Shippers Authority (GSA), has organised a sensitization forum for exporters in the Eastern Region on procedures to reduce cost of export shipments.
Participants included officials from the Ghana Revenue Authority, Trade Ministry, the Customs Division, business and trade groups among others, in Koforidua.
GSA since its inception in 1974, has been a pacesetter in trade facilitation and addressing challenges faced by shippers.
Mr. Charles Darling Sey, Tema Regional boss of the GSA, said the National Export Development Strategy (NEDS) has charted an ambitious path for the next decade and envisioned growth of non-traditional exports from $2.8 billion to a substantial $25.3 billion in 2029.
He said efforts were underway to review export-related policies, reduce bureaucracy, simplify procedures and create a more conducive environment for businesses in the shipping industry to grow.
‘This growth is coupled with a profound structural transformation aimed at positioning Ghana as a competitive export – l
ed industrialized economy’ he added.
Mr. Eric Kweku Hammond, Deputy Director in charge of Foreign Banking Operations at the Bank of Ghana (BoG), speaking on the Bank’s Letter of Commitment (LOC), explained that it was a critical document generated by exporters from the Integrated Customs Management System (ICUMS) portal to accompany all exports from Ghana.
He said ICUMS portal fed into the balance of payment statistics, which Bank of Ghana prepares periodically.
He said: ‘LOC has come to stay and everybody must come on board and make sure that when you are exporting, you generate the LOC, repatriate the proceeds so that at the end of the day we will all enjoy the benefit of repatriation into the country.’
Mr. Paul Kobina Mensah, Chief Executive Officer of Mass Logistics Ghana Limited, took participants through topics such as freight negotiation, insurance cover, access to foreign markets, demurrage and storage, warehousing, and harmonization of processes.
Source: Ghana News Agency