Ghana’s Government and textile industry stakeholders recently agreed on a road map to implement policy interventions against the import of fake textile products and other unfair practices that have stifled the growth of domestic firms. It starts with the signing of a document this week that will allow the implementation of a textile tax stamp policy.
The road map was arrived at in a meeting of minister of trade and industry Alan Kyerematen with key stakeholders—the ministry of trade and industry (MoTI), the ministry of finance, the Ghana Revenue Authority (GRA) and the Coalition of Textile Workers (CTW)—in Accra last week.Ghana's Government and textile industry stakeholders recently agreed on a road map to implement policy interventions against the import of fake textile products and other unfair practices that have stifled the growth of domestic firms. It starts with the signing of a document this week that will allow the implementation of a textile tax stamp policy.#
CTW general secretary John Abeka said the parties agreed on a September 13 timeline to sign a contract for the production of tax stamps to be affixed on all textile prints in the country, according to a newspaper report in Ghana.
The textile tax stamp policy requires textile manufacturers, importers and traders to ensure that approved stamps bearing key security features by the finance ministry are affixed on their textile prints before they are traded. (DS)
Fibre2Fashion News Desk – India
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