The National Development Planning Commission (NDPC) has established a technical team to prepare a strategy document to guide Ghana’s response to the impact of the Iran war on the global economy and changes in geopolitical alliances.
The team, inaugurated by NDPC Chairman Dr. Nii Moi Thompson, is led by Prof. William Baah-Boateng, Vice Chancellor of Methodist University and a commissioner on the Commission’s economic policy sub-committee.
The strategy aims to help Ghana navigate the global economy in the short, medium, and long term, amidst heightened uncertainty and shifting global trade dynamics.
Dr. Thompson highlighted the significance of recent global trade realignments, the rise of new economic powers in Asia, and China’s growing support for developing countries.
The team will focus on critical areas, including China’s tariff-free access scheme for African countries, opportunities within the African Continental Free Trade Area (AfCFTA), emerging markets in Latin America and Asia, and changes in traditional markets.
They will also examine global supply chains, industrial policy, trade policy, and competition policy to inform Ghana’s industrialization and modernization agenda.
The team comprises experts from various institutions, including the University of Cape Coast, the Bank of Ghana, the Ministry of Finance, and the Ghana Statistical Service.
Mr. Chris P.K. Conduah, an international trade specialist at NDPC, serves as the secretary to the team.
The initiative reflects Ghana’s efforts to adapt to the evolving global economic landscape and leverage opportunities for sustainable development.
