The Minister of Trade and Industry, Alan Kyerematen, has disclosed plans between government and textile traders in the country to implement a stamped policy.
He made the disclosure during an engagement with importers, as part of the preparations for the launch and implementation of the policy, before the close of the year.
The minister said the aim of the engagement was to “sensitise and educate the public, particularly dealers in the industry on the introduction/implementation of the textiles tax stamps.”
He added that it is part of the Government’s commitment to addressing the challenges of the textiles industry, as well as developing the sector, to harness the significant gains the sector stands to offer.
The Minister revealed that the local demand for African prints is about 120 million yards per annum, of which the local supply is just about 35 per cent (42million yards), with the remaining 65 per cent imported.
Local textiles industry
Mr Kyerematen recalled that the local textiles industry used to be very vibrant in the last three decades. He, however, noted that the influx of pirated designs and gross infringements on trademarks of local textile manufacturers have been identified as two of the key areas which have adversely affected the textiles industry in Ghana.
Addressing the situation, the Minister recounted that in 2018 the Ministry of Trade and Industry, under the Industrial Transformation Agenda of Government, announced six policy measures aimed at finding lasting solutions to the challenges and strengthening the textiles sector.
He mentioned the introduction and implementation of textiles tax stamps, import management systems, introduction of Designated Entry Corridors (Tema Port and Aflao Border for textile imports), and the provision of incentive packages for local manufacturers to make them competitive.
This, he said, will attract foreign textile manufacturers to set up or relocate their plants in Ghana and reconstitute the Task Force to embark on effective market monitoring and surveillance.
The Minister was of the belief that these policy measures will lead to the development of the local textile firms to reduce the import of pirated textiles by promoting local manufacturing.
The roll-out of the textiles tax stamps has been scheduled for November 1, 2022, and the implementation modalities will include having textiles stamps affixed on all textile prints traded in Ghana.