Ghana and Nigeria propose Business Council


Business News of Sunday, 6 September 2020

Source: GNA

2020-09-06

File Photo: Ghana's ParliamentFile Photo: Ghana’s Parliament

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Ghana and Nigeria are considering adopting legislation, to be called the “Ghana-Nigeria Friendship Act” that proposes the “Ghana-Nigeria Business Council” to guide the friendship, investment and trade matters of the two nations.

Consequently, a meeting would soon be held between the Trade and Foreign Affairs Committees of the Legislatures of the two sister West African nations, to deliberate on the applications of Trade Laws.

The proposed meeting would discuss in particular the Ghana Investment Promotion Act, the GIPC Act 2013 (Act 865) and make recommendations for appropriate solutions.

The Speakers of the legislatures of the two West African nations- Prof Aaron Michael Oquaye of Ghana, and his Nigerian counterpart Mr Femi Gbajabiamila, agreed to the proposal at the end of a bilateral meeting, involving a 12-member parliamentary delegation from Nigeria and the Speaker and the Leadership of Ghana’s parliament, as well as some key Ministers of the Government of Ghana, in Accra.

The proposed moves were announced in a joint communique at a press conference by the two Speakers, In Accra, before the Speaker of Nigeria’s House of Representatives left for Abuja.

The communique was jointly read by MR Cyril Kwabena Oteng Nsiah, Clerk to Ghana’s parliament, and Mr Benjamin Kalu, Spokesperson to Nigeria’s House of Representatives, in the presence of the two Speakers.

The meeting was to resolve the trade challenges between Accra and Abuja and to improve their international relations following the recent closure of shops of some foreigners, including some Nigerians in Ghana alleged to have breached Ghana’s domestic trade laws.

The meeting recognized that limited appreciation of the trade laws of Ghana, and the implementation of the GIPC Act had resulted in the closure of some retail shops and urged the GIPC and the Trade Attaches to educate their citizens on the trade laws.

It also discussed the US$ 1 million capital requirement for foreign retail traders in Ghana and called on the Trade Ministries of the two nations to work out modalities to meet the required capital requirement.

The meeting also discussed the demolition of some properties belonging to the Nigeria High Commission in Accra.

The delegation also met with President Nana Addo Dankwa Akufo-Addo, who assured them of the safety of Nigerians in Ghana.

The communique called for measures to be adopted to support law-abiding to properly regularize their business in the face of the ravaging impact of COVID-19 on businesses and families.

It stressed the need for efforts to be made to ensure that the ECOWAS Agenda for free movement of people and goods in furtherance of a shared and prosperous future of citizens of the sub-region is not compromised.

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