The Economic Community of West Africa States (ECOWAS) has announced that members states in the sub region would from January 2015 adopt a Common External Tariff (CET) for goods coming in from outside the region.
Mr. Felix Kwakye, Customs Specialist for the ECOWAS Commission made this known on Monday when ECOWAS held a workshop at the on-going Trade Fair on the theme “Regional Integration through Trade”.
He said the CET when implemented would take over all national tariffs by member states and would help achieve custom union in the region.
He said the CET would ensure that any goods coming outside the sub region attract the same duty irrespective of the country it is taken to whiles goods from members states attract no duties.
Foreign Direct Investment (FDI) flows into Ghana for the first half of this year declined to $1.5 billion from $1.6 billion at the end of the second quarter of 2012.
According to a report released by the United Nations Conference on Trade and Development (UNCTAD), the decline in FDI flows into Ghana between the first half of 2012 and 2013 was 11.5 percent.
The agency said though FDI flows to Ghana were slightly lower than the figures last year, the outlook was positive.
The finance minister ,Seth Terkper is expected to present the 2014 Budget to parliament on November 19.
This is the new date the Finance Ministry together with Parliament, has agree on for government's economic policy statement to be laid before the house.
The minister was originally scheduled to read the budget on November 14, however, it had to change the date because of some challenges on working on the necessary bills before the budget is laid before the house.