The Ghana International Trade Commission (GITC) has assured the public that it will recommend solutions to government on how to curb unfair competition practices.
The Commission which began its work on Thursday was set up to hear petitions from indigenous companies on some unfair trade practices.
Speaking to Citi News, the Executive Secretary of the commission, Frank Agyekum said, some local companies such as Aluworks Limited and Coca Cola Company Limited were present at the hearing to make a case for how the operations of foreign companies were negatively affecting their businesses.
“Because they are subsidized from their home countries, they make them cheaper as against Aluworks products. So the Aluworks Company was losing market and therefore closing shops. We’ve also got complains from the biscuits manufacturers association of Ghana who is also complaining in such vain about the importation of some commodities that make their products here more expensive,” he said.
“We’ve also had complaints from the cement manufacturers association of Ghana, steel manufacturers association of Ghana and also Coca Cola Ghana Limited who are complaining about the infringement of their franchise. Of late, some other companies have been importing Coca Cola into Ghana. After the hearing, once a case has been established, there are recommendations that we give in terms of remedies.”
Aluworks in trouble
Aluworks Ghana Limited had earlier appealed to government to protect local aluminium companies against foreign ones that import cheap aluminium into the country.
According to them, the non-implementation of the right laws has made it possible for Chinese companies operating in Ghana to charge lower prices for goods they trade in on the Ghanaian market.
The development they fear if not checked, will bring the company down on its knees.