\n
The Ghana International Trade Commission has announced a 65 percent quota on the importation of cutlasses into the country, effective March 30, 2024, for a 24-month period, subject to review.<\/p>\n
This decision stems from a trade petition filed by Crocodile Machete Ghana Limited, citing an influx of imported machetes impacting its competitiveness and operational costs.<\/p>\n
The quota will restrict imports from countries such as China and Colombia, which accounted for 74.68% and 17.93% of imports, respectively, between 2021 and July 2023.<\/p>\n
Crocodile Machete petitioned the GITC on September 29, 2021, \u201crequesting for remedial measures for unfair trade practices relating to dumping, subsidization, and increasing quantities of imported machetes, which happened to be counterfeited and substandard machetes.\u201d<\/p>\n
It petitioned again in October 2023 concerning a surge in the imports of machetes, which was affecting their market share and sales on the market that would require the imposition of safeguard measures.<\/p>\n
GITC delivered its verdict on the petition on Tuesday, February 13, 2024.<\/p>\n
Dr. Adu Gyamfi, Chairman of the Ghana International Trade Commission, in the ruling, said it was for \u201cCrocodile Matchet to enable it to be competitive and restore its market share.\u201d<\/p>\n
\u201cThe Commission, having regard to the GITC Act 2016, Act 926, and the GITC (Safeguard Measures) Regulations, 2020 (LI 2426), therefore hereby recommends a safeguard measure of 65% quota on all imports of machetes beginning 30th March 2024 to last for 24 months subject to review.<\/p>\n
\u201cThe 65% quota translates into a total of 1534.4 metric tonnes as against the current 2,365.85 metric tonnes of machetes imported annually. The remaining shortfall of 831.45 metric tonnes of machete is what is expected to be compensated by Crocodile Machete to enable it to be competitive and restore its market share.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Ghana International Trade Commission has announced a 65 percent quota on the importation of cutlasses into the country, effective March 30, 2024, for a 24-month period, subject to review. This decision stems from a trade petition filed by Crocodile Machete Ghana Limited, citing an influx of imported machetes impacting its competitiveness and operational costs. […]<\/p>\n","protected":false},"author":1,"featured_media":151196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-151195","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n
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