Sections
DONATE
SUPPORT WWW.JOLLOFNEWS.COM
Account Login
US urge Gambia to utilize preferential trade programs
Wednesday, 15 September 2010 10:14
By Kemo ChamThe United States has urged the Gambia to build on “significant steps” it has taken in recent years to liberalize trade and modernize its trade and investment regimes.
Deputy Permanent Representative of the US to the World Trade Organization (WTO) cited the Gambian government’s restructuring of applied
tariff rates and its efforts to promote investment as among measures it had taken which contributed to “steady growth in the national economy over the past six years.”Trade Policy Reviews are a routine exercise, inline with WTO agreements. They require a regular examination and evaluation of the trade and related policies of member countries, all of whom are subject to review. Significant developments that may have an impact on the global trading system are also monitored. Accordingly, the frequency of review depends on the size of a country.
The present review of the trade policies and practices of Gambia, the second after 2004, runs from 14 to 16 September 2010. And the basis for the review is a report by the WTO Secretariat and one by the Government of The Gambia.
The Gambia is classified as a least developed economy, with a very narrow economic base heavily dependent on re-exports, tourism, and remittances from overseas.
The WTO Secretariat report recommends key trade policy measures the Gambian government could consider to help address its present challenges.
According to David Shark, US Deputy Permanent Representative to the WTO in Geneva, Gambia has traditionally demonstrated a strong commitment to open markets and free trade. He however told the Gambian delegation led by Trade, Industry and Employment Minister, Yusupha Kah, that as described in the comprehensive report prepared by the WTO Secretariat, the country continues to face a number of challenges in improving its trade environment and employing trade to boost economic growth and development and alleviate poverty.
Perhaps the greatest of these challenges, he said, is to achieve broader diversification of the Gambian economy, especially in the export sector.
“As the government has acknowledged, the Gambian economy is over reliant on groundnuts and fishery exports and is hampered by an underdeveloped manufacturing sector,” the US representative stated.
Mr Shark especially cited duty and tax exemptions which he said are granted unevenly, thus “weakening the transparency and predictability that investors seek.”
Failure to utilize preferential trade programs
The US also noted Gambia’s failure to take advantage of a number of opportunities offered by its preferential trade programs. “For example,” he stated, “The Gambia exported only $8,000 worth of goods to the United States during the first six months of 2010 under duty-free provisions of AGOA and the U.S. Generalized System of Preferences. In our view, however, there are many goods which The Gambia could conceivably produce more competitively and export to the United States which would also benefit from duty-free treatment under AGOA and GSP, such as fresh vegetables, cut flowers, and processed cocoa products.Acknowledging Gambia’s need for trade capacity building assistance, Ambassador David Shark offered US’ assistance in this regard.
He said his government was always pleased to consult with the Gambian government on the means by which Gambia might make better use of the market access opportunities offered under AGOA and GSP to improve the competitiveness of its exports to the United States.
According to Shark, the United States champions the WTO’s work on trade facilitation especially because it believes it holds such promise for developing country members. And for this reason, he added, the US was eager to know about the steps the Gambian government was taking to assess its trade facilitation needs.
Calls for increased privatization
The US representative also sought to raise several other areas they thought deserve special attention by the Gambian government.
He said that the Gambian government does not appear to have given sufficient attention to intellectual property rights protection and enforcement, which is of particular concern given active Gambian involvement in the re-export trade.
“We are also interested to know about the steps The Gambia is taking or plans to take to address its sanitary and phytosanitary concerns, in a way that takes into account its obligations under the WTO agreements.”
The US government also urged the Gambian government to continue on its process of privatization of state-owned and state-controlled firms, an issue raised by the WTO reports.
“Renewed progress on privatization will go a long way toward helping to improve the Government fiscal situation and to improve the trade and investment environment,” the US representative said.
Read a summery of the WTO report on Gambia here
Jollofnews Poll
Who do you think should be the next President of The Gambia?
Follow us on Twitter
-
McGuinness wants dissident talksDeputy First Minister Martin McGuinness offers to hold talks with dissident republicans, saying their violence...
-
Egypt candidate to seek election suspension: lawyerCAIRO (Reuters) - Leftist candidate Hamdeen Sabahy will file an appeal for Egypt's presidential election...
-
Bristol Rovers Speed Merchant Could Be Racing To Posh(GamSports) – Peterborough United are thought to be one of a number of Championship sides...
Comments
with images of Lenin, Stalin, Hitler and Hussein.
Never forget that Gambians of all political standpoints are progressive..hence the divergent views.
I know a lot of APRC supporters who work very very hard for Gambia. If your President could master the art of unification..you would take off to the moon? Lets do our bit?..and agree to differ when their is difference within perspective?
The problem with America with Africa is that they can't find a Red Indian or buffalo or oil rig ... anywhere?
Thankyou,and as much as we all disagree sometimes,but your assertions on the hypocrisy of the US government take away aid was SPOT ON and i will also comment JOLLFNEWS for the fair and balance they dessiminate out there,because most of the other online papers will not report anything that will give credit to the APRC government,and for JOLLOF to do so,i will rise up and say KUDOS and i hope your sister papers can emulate you.
Their is some merit in your words.
Their is no secret stairway to success.
I am not educated or come from rich parents...but from childhood my culture deemed I would have a basic education...with which to further my life at a very basic level. For many years I struggled and earned just enough to pay my way.
But I was diligent and learned how to succeed and make wealth and climb the social and business ladder.
Not everyone can do this. But enough can... to make those less fortunate.. more comfortable.
No one got richer without the assistance of those who are poorer.
One cannot exist without the other.
So it makes sound economic sense to make the poor better off.?
African's need to channel their natural
collective competitiveness into personal ambition.
This needs an "attitundal" change.
Majority of Gambians are illitrate who can only venture to take advantage of such opportunities if they know how to go about it. The very few who can have their hands filled and unfortunately the government doesn't appear available to help sensitise the major who can...
You mention Amadou Samba, Gambia Experience and business tycoons, what do you think is holding them up?
The Gambia Chamber of Commerce, what is holding them?...
Their report would have cost much much more than that????
"The American political mind is a barren place where thought and power are blindfolded in unequal measure"
The US takes away aid and finanical assistance on the one hand then criticises The Gambia for not exporting flowers to the US.{laugh}
Does the US government expect the Presidents plane to be converted to a transporter for flowers?
The US has opened a chamber of commerce in Gambia. Why not open one in America and encourage green shoot bi lateral investors?
Let the US open and sponsor direct trade and tourism flights between the US and The Gambia...the rest will follow.
I'm certain Gambia Experience and buisness typhoons like Amadou Samba can assist?
The Gambian's are not slow in siezing any opportunity for growth.
Just create the infrastructure?
US again not interested in substance just rhetoric?
RSS feed for comments to this post.