Importers, exporters call for urgent tarrif cuts
The Executive Secretary of the Importers and Exporters Association, Samson Asaki Awingobit, has called on the government to accelerate efforts to reduce port duties, warning that the current charges are pushing up the cost of goods across the country despite the cedi appreciating.
According to him, the Finance Minister, Dr Cassiel Ato Forson, indicated they would meet with the association to discuss import duties after the budget presentation in March 2025. However, the meeting is yet to take place.
He said the government must speed up the process to help reduce product prices in the markets significantly.
“The Finance Minister has scheduled a meeting with us regarding import duties, but we are yet to meet. We urge the government to expedite the process, as this will help reduce the prices of certain products in the markets significantly,” he said.
President John Mahama has projected that the Ghana cedi will stabilise within a band of GH¢10 to GH¢12 against the US dollar, describing it as a fair value to support both exporters and importers while maintaining macroeconomic stability.
Speaking at a meeting with the Federation of Association of Ghanaian Exporters (FAGE), the President acknowledged the recent currency appreciation but cautioned against an excessively strong cedi, which could harm export competitiveness.
“Some people say the cedi could fall to GH¢4, but we know the true value is not there. If it drops that low, it will kill all export businesses,” he said.
Exporters strain
In an interview with Graphic Business, he disclosed that while importers are generally satisfied with recent developments, exporters remain concerned as they have not seen adequate returns on their investments.
This divergence highlights the challenge of balancing the needs of both groups in government policy.
“We are all pleased about it, but some believe it is negatively impacting them, particularly the exporters. While importers are currently satisfied, exporters are not seeing the returns from their investments,” he said.
Striking a balance
Mr Awingobit emphasised that government policies should aim to strike a balance that lowers production costs across the board.
He added that without addressing both port duties and broader production expenses, it will be difficult to achieve meaningful price reductions.
“Government policies should aim to strike a balance. We need to lower production costs and the fixed rates at the ports should be reduced to help bring down the prices of certain goods,” he said.
Government engagement
The Executive Secretary expressed hope that the long-awaited meeting with the Finance Minister would yield practical steps towards reducing import duties and easing financial pressure on businesses and consumers.
“The Finance Minister has indicated a willingness to engage, but the meeting has not yet happened. We look forward to constructive talks that will result in positive changes for both importers and exporters,” he said
Economic Implications
Mr Awingobit further explained that high port charges add to the overall cost burden on goods, which inevitably affects retail prices and consumer spending.
“Reducing these fees would help stabilise prices and improve affordability for everyday consumers. It’s essential for the government to act quickly,” he said