Mahamudu Bawumia meets GUTA to address high import duties

New Patriotic Party (NPP) flagbearer and former Vice President Dr. Mahamudu Bawumia has held a consultative meeting with the Ghana Union of Traders’ Associations (GUTA) to address the rising costs of doing business. The dialogue focused on the significant financial pressures currently facing the trading community, particularly the impact of high import duties and demurrage charges. The meeting served as a platform for GUTA to formally present its grievances regarding the current fiscal landscape.

During the discussions, GUTA leadership highlighted several critical bottlenecks, including the burden of shop rents and the complexities of the Value Added Tax (VAT) structure as it applies to the informal sector. Traders argued that the existing tax regime has become increasingly prohibitive, stifling the growth of small and medium-scale enterprises. GUTA members presented specific proposals to reform these tax structures, seeking a more streamlined approach to reduce the cost of port clearances and overall business operations.

Dr. Bawumia characterized the engagement as highly productive, emphasizing the need for a shift toward local production and the introduction of new investment incentives. He acknowledged the concerns raised by the association and underscored the importance of creating a business environment that supports local traders and manufacturing. By focusing on investment incentives, the NPP flagbearer suggested that the government could better assist the private sector in navigating current economic challenges.

This meeting marks a significant step in the ongoing dialogue between the political leadership and the Ghanaian business community. The proposals submitted by GUTA are expected to inform future policy frameworks aimed at improving the competitiveness of local traders within the sub-region. As the country navigates its economic recovery, the alignment of government policy with the practical needs of the informal sector remains a key priority for sustainable industrial growth.