News:
December 11, 2019
The joint Committee on Trade, Customs and Free Movement, Legal and Judiciary and Finance and Budget of the Community Parliament has adopted the recommendation of a draft regulation to extend implementation of ECOWAS Supplementary Protection measures, for three (3) years.
This came as a result of ECOWAS Commission appearing before the Committee on Monday the 9th of December 2019, to present a draft report of the commission.
Authority of Heads of States and Government directed the Commission to undertake periodic evaluation of the implementation of the ECOWAS Common External Tariff in member states.
Mr. Felix Kwakye who presented the report to the joint Committee from the Commission noted that with the evaluation it came out that member states did not begin the implementation of the ECOWAS Common External Tariff (CET) at the same time and almost all Member states have implemented Import Adjustment Tax have not completed the process.
And have not completed the process of convergence towards CET, furthermore no Member state has applied the Supplementary Protection Measures in view of its complexity.
Ministers of Finance at their 5th meeting held in Abuja on the 22nd of November 2019 approved the extension of the implementation of the Supplementary Protection measures.
“This would enable all Member States to be on the same level where they will all converge at a point of harmonious take off of the tariff”, he told the joint Committee.
Kwaku Sakyi-Danso/ghanamps.com/Abuja