Dr Okonjo-Iweala urges Ghana to ratify Fisheries Subsidies … – Ghana Business News

Ngozi Okonjo-IwealaDr Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation, has urged the Ghana government to expedite the process for ratifying the Fisheries Subsidies agreement that was adopted in Geneva in June 2022.
She said the ratification would help Ghana as a developing country access a $20 million fisheries fund meant for helping developing countries strengthen capacities for the fisheries sector through technical assistance and capacity building.
“Many of our countries need strengthening, so how do we build capacities to even know statistically what kind of fisheries we have to be able to have the appropriate data and even pursue those who are fishing illegally so we can report them,” she said during a meeting with Mr Kobina Tahir Hammond, the Minister of Trade and Industry.
She explained that the agreement sought to do away with $22 billion harmful fisheries subsidies that allowed people and countries to fish illegally in the ocean leading to depletion of fish stock and destroying of natural habitat.
The situation, she said, directly affected about 12 million people in Africa who directly depended on fisheries.
Sharing highlights at the WTO’s 12th Ministerial Conference (MC12), she said members of the WTO had agreed to introduce more flexibility in the form of a waiver on the patent on vaccines for a five-year period to allow African countries manufacture their own vaccines.
“It is not proper that we import 99 per cent of the vaccines we use on the continent and 90 per cent of other pharmaceuticals,” she added.
Dr Okonjo-Iweala described the African Continental Free Trade Agreement (AfCFTA) as a big opportunity for the continent and said the WTO was desirous that the instrument would grow and develop in accordance with Agenda 2063 of the African Union (AU).
She encouraged Ghanaians to take advantage of digitally delivered and traded services.
They should also commit to value addition on products and commodities manufactured on the continent to take advantage of the market power that the AfCFTA provided.
“As we speak, there is a very big move to diversify supply chain for many products and we know that during the pandemic where there were some vulnerabilities that were obvious in the way that manufacturing is concentrated in the world for several products,” she said.
Mr Hammond, for his part, assured the WTO of Ghana’s commitment to ratifying the agreement which, he said, would be given the attention it deserved by the government.
He called on the WTO to reform its adjudication system, especially the appellate system, to provide the needed assurance to member states in addressing disputes and to give the multilateral trading system (MTS) the needed predictability and certainty.
Mr Samuel Quaatey, Technical Advisor to the Minister of Fisheries and Aquaculture, in an interview, said a first technical meeting had been held in December between the Ministry of Fisheries and Aquaculture and the Ministry of Trade and Industry to map out areas for redress in the agreement.
“There are some areas we need to look at. If you look at article 3.7, it requires that your law must cover such an agreement and currently our law does not, so it means we need to amend Act 880 of the amended Fisheries Act 2014.
“What our law has is an act that proscribes punishment against vessels involved in IUU,” he said.
The WTO Director – General is expected to depart for la Cote Ivoire and Kenya, Wednesday, after meeting with President Nana Addo Dankwa Akufo-Addo and participating in a discussion on making globalisation work for Africa.
It is hosted by the Institute of Economic Affairs.
The purpose of her two-day visit is also to meet policymakers, business leaders and civil society representatives, while underscoring the WTO’s commitment to reinforcing support to Sub-Saharan Africa.
Source: GNA

Dr Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation, has urged the Ghana government to expedite the process for ratifying the Fisheries Subsidies agreement that was adopted in Geneva in June 2022.

She said the ratification would help Ghana as a developing country access a $20 million fisheries fund meant for helping developing countries strengthen capacities for the fisheries sector through technical assistance and capacity building.

“Many of our countries need strengthening, so how do we build capacities to even know statistically what kind of fisheries we have to be able to have the appropriate data and even pursue those who are fishing illegally so we can report them,” she said during a meeting with Mr Kobina Tahir Hammond, the Minister of Trade and Industry.

She explained that the agreement sought to do away with $22 billion harmful fisheries subsidies that allowed people and countries to fish illegally in the ocean leading to depletion of fish stock and destroying of natural habitat.

The situation, she said, directly affected about 12 million people in Africa who directly depended on fisheries.

Sharing highlights at the WTO’s 12th Ministerial Conference (MC12), she said members of the WTO had agreed to introduce more flexibility in the form of a waiver on the patent on vaccines for a five-year period to allow African countries manufacture their own vaccines.

“It is not proper that we import 99 per cent of the vaccines we use on the continent and 90 per cent of other pharmaceuticals,” she added.

Dr Okonjo-Iweala described the African Continental Free Trade Agreement (AfCFTA) as a big opportunity for the continent and said the WTO was desirous that the instrument would grow and develop in accordance with Agenda 2063 of the African Union (AU).

She encouraged Ghanaians to take advantage of digitally delivered and traded services.

They should also commit to value addition on products and commodities manufactured on the continent to take advantage of the market power that the AfCFTA provided.

“As we speak, there is a very big move to diversify supply chain for many products and we know that during the pandemic where there were some vulnerabilities that were obvious in the way that manufacturing is concentrated in the world for several products,” she said.

Mr Hammond, for his part, assured the WTO of Ghana’s commitment to ratifying the agreement which, he said, would be given the attention it deserved by the government.

He called on the WTO to reform its adjudication system, especially the appellate system, to provide the needed assurance to member states in addressing disputes and to give the multilateral trading system (MTS) the needed predictability and certainty.

Mr Samuel Quaatey, Technical Advisor to the Minister of Fisheries and Aquaculture, in an interview, said a first technical meeting had been held in December between the Ministry of Fisheries and Aquaculture and the Ministry of Trade and Industry to map out areas for redress in the agreement.

“There are some areas we need to look at. If you look at article 3.7, it requires that your law must cover such an agreement and currently our law does not, so it means we need to amend Act 880 of the amended Fisheries Act 2014.

“What our law has is an act that proscribes punishment against vessels involved in IUU,” he said.

The WTO Director – General is expected to depart for la Cote Ivoire and Kenya, Wednesday, after meeting with President Nana Addo Dankwa Akufo-Addo and participating in a discussion on making globalisation work for Africa.

It is hosted by the Institute of Economic Affairs.

The purpose of her two-day visit is also to meet policymakers, business leaders and civil society representatives, while underscoring the WTO’s commitment to reinforcing support to Sub-Saharan Africa.

Source: GNA

Agriculture

Zim takes investment opportunities to Türkiye indaba – The Herald

Africa Moyo Deputy News Editor
Zimbabwe’s investment opportunities will take centre-stage during the 4th Türkiye-Africa Business Forum where Foreign Affairs and International Trade Minister Ambassador Frederick Shava is expected to lead the country’s delegation.
The economic business forum is set for Thursday and Friday next week at the Istanbul Congress Center in Istanbul.
In an interview yesterday, Zimbabwe’s Ambassador to Türkiye, Alfred Mutiwazuka, confirmed Harare’s participation.
He said Zimbabwe’s delegation will comprise officials from ZimTrade, the Confederation of Zimbabwe Industries (CZI), Government institutions and private sector companies.
“In line with Zimbabwe`s engagement and re-engagement drive, Minister Shava will have a meeting with Professor Dr Omer Bolat, Minister of Trade of the Republic of Türkiye to discuss among other issues: the Trade and Economic Cooperation Agreement signed in 2018 and ratified by Türkiye in February 2022 and implementation of the Agreement to Establish the Türkiye-Zimbabwe Business Council signed in 2016 by the CZI and Türkiye’s Foreign Economic Relations Board,” said Ambassador Mutiwazuka.
“The Minister will engage players in the agriculture, manufacturing, mining, transport and infrastructure sectors with a view to inviting them to invest in Zimbabwe.”
Ambassador Shava is also expected to participate in a panel on “Türkiye and Opportunities under the AfCFTA”, a topic that the Turkish authorities have shown great interest in, as they advance Türkiye-Africa cooperation.
Some members of the Zimbabwe delegation will participate in other panel meetings on digital transformation, health technologies, sustainability of value chains in the agro-industries and manufacturing sectors, women entrepreneurship, free zones, the AfCFTA, financing of trade and investments and banking during the two-day conference.
Ambassador Mutiwazuka said the Türkiye-Africa Economic Business Forum offers mutual benefits to both Africa and Türkiye, through increased economic cooperation.
“The Forum demonstrates the emerging role of African countries as dynamic players in the global business arena. African countries and Zimbabwe, in particular, benefit from the increasing economic development of Türkiye economic cooperation hinged on the ‘win-win’ principle,” he said.
Africa benefits from this forum in various ways including facilitating increased trade and investment between Africa and Türkiye by promoting economic relations and encouraging Turkish businesses to invest on the continent.
Increased investments are expected to lead to job creation, infrastructure development, and increased revenue for African nations.
African countries are also expected to benefit from infrastructure development since Türkiye has expertise in infrastructure projects such as construction, transportation, and energy.
Through the forum, Africa can benefit from Turkish investments and technologies, which address crucial infrastructure gaps in many African countries.
Türkiye also has experience in the manufacturing and industrial sectors, which can be shared with African nations to enhance their own industrialisation efforts.
President Mnangagwa has reiterated that Zimbabwe is on an unrestrained path to industrialisation and modernisation, and the country is expected to benefit from its participation in the business forum.
It is expected that collaboration with Türkiye in the manufacturing and industrial sectors can help Africa develop local industries, reduce import dependency, and create employment opportunities.
With many countries experiencing food shortages, it is expected that through participation in the business forum, African countries will benefit Türkiye’s advanced agricultural technologies — machinery and implements — and knowledge that help to improve productivity, increase food security, and enhance agricultural value chains.
This knowledge transfer can contribute to sustainable agricultural development in Africa.
The Türkiye -Africa Economic Business Forum also promotes tourism and cultural exchanges and investment in the tourism industry, thereby creating employment opportunities, and fostering cultural understanding.
African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Ambassador Albert Muchanga has said this year’s Türkiye-Africa Economic and Business Forum convenes against the background of global challenges of climate change and its adverse impact of heat waves, flooding and drought, inflation, geopolitical tensions, food and energy insecurity as well as the lingering Covid-19 pandemic is some parts of the world.
But he said while this is a period of multiple challenges, it is also a period of opportunity and hope, and the “key lever is cooperation because it is a vital instrument in meeting the world’s complex challenges which no country or region can solve on its own”.
“The Türkiye-Africa Economic and Business Forum is a strategic lever in this regard,” said Ambassador Muchanga.

Africa Moyo Deputy News Editor

Zimbabwe’s investment opportunities will take centre-stage during the 4th Türkiye-Africa Business Forum where Foreign Affairs and International Trade Minister Ambassador Frederick Shava is expected to lead the country’s delegation.

The economic business forum is set for Thursday and Friday next week at the Istanbul Congress Center in Istanbul.

In an interview yesterday, Zimbabwe’s Ambassador to Türkiye, Alfred Mutiwazuka, confirmed Harare’s participation.

He said Zimbabwe’s delegation will comprise officials from ZimTrade, the Confederation of Zimbabwe Industries (CZI), Government institutions and private sector companies.

“In line with Zimbabwe`s engagement and re-engagement drive, Minister Shava will have a meeting with Professor Dr Omer Bolat, Minister of Trade of the Republic of Türkiye to discuss among other issues: the Trade and Economic Cooperation Agreement signed in 2018 and ratified by Türkiye in February 2022 and implementation of the Agreement to Establish the Türkiye-Zimbabwe Business Council signed in 2016 by the CZI and Türkiye’s Foreign Economic Relations Board,” said Ambassador Mutiwazuka.

“The Minister will engage players in the agriculture, manufacturing, mining, transport and infrastructure sectors with a view to inviting them to invest in Zimbabwe.”

Ambassador Shava is also expected to participate in a panel on “Türkiye and Opportunities under the AfCFTA”, a topic that the Turkish authorities have shown great interest in, as they advance Türkiye-Africa cooperation.

Some members of the Zimbabwe delegation will participate in other panel meetings on digital transformation, health technologies, sustainability of value chains in the agro-industries and manufacturing sectors, women entrepreneurship, free zones, the AfCFTA, financing of trade and investments and banking during the two-day conference.

Ambassador Mutiwazuka said the Türkiye-Africa Economic Business Forum offers mutual benefits to both Africa and Türkiye, through increased economic cooperation.

“The Forum demonstrates the emerging role of African countries as dynamic players in the global business arena. African countries and Zimbabwe, in particular, benefit from the increasing economic development of Türkiye economic cooperation hinged on the ‘win-win’ principle,” he said.

Africa benefits from this forum in various ways including facilitating increased trade and investment between Africa and Türkiye by promoting economic relations and encouraging Turkish businesses to invest on the continent.

Increased investments are expected to lead to job creation, infrastructure development, and increased revenue for African nations.

African countries are also expected to benefit from infrastructure development since Türkiye has expertise in infrastructure projects such as construction, transportation, and energy.

Through the forum, Africa can benefit from Turkish investments and technologies, which address crucial infrastructure gaps in many African countries.

Türkiye also has experience in the manufacturing and industrial sectors, which can be shared with African nations to enhance their own industrialisation efforts.

President Mnangagwa has reiterated that Zimbabwe is on an unrestrained path to industrialisation and modernisation, and the country is expected to benefit from its participation in the business forum.

It is expected that collaboration with Türkiye in the manufacturing and industrial sectors can help Africa develop local industries, reduce import dependency, and create employment opportunities.

With many countries experiencing food shortages, it is expected that through participation in the business forum, African countries will benefit Türkiye’s advanced agricultural technologies — machinery and implements — and knowledge that help to improve productivity, increase food security, and enhance agricultural value chains.

This knowledge transfer can contribute to sustainable agricultural development in Africa.

The Türkiye -Africa Economic Business Forum also promotes tourism and cultural exchanges and investment in the tourism industry, thereby creating employment opportunities, and fostering cultural understanding.

African Union Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Ambassador Albert Muchanga has said this year’s Türkiye-Africa Economic and Business Forum convenes against the background of global challenges of climate change and its adverse impact of heat waves, flooding and drought, inflation, geopolitical tensions, food and energy insecurity as well as the lingering Covid-19 pandemic is some parts of the world.

But he said while this is a period of multiple challenges, it is also a period of opportunity and hope, and the “key lever is cooperation because it is a vital instrument in meeting the world’s complex challenges which no country or region can solve on its own”.

“The Türkiye-Africa Economic and Business Forum is a strategic lever in this regard,” said Ambassador Muchanga.

Agriculture

Zim takes investment opportunities to Türkiye indaba – The Herald