Business News of Friday, 10 January 2020Source: Graphic.com.ghCommission begins petition hearing on unfair trade practicesManaging Director of Aluworks Ltd E. Kwasi Okoh (L) presenting the company’s case to the commissionThe Ghana International Trade Commission (GITC) set up to check unfair trade practices has begun the historic hearing of petitions brought before it by some local companies to protect them against some unfair practices by foreign companies. UnfairnessMr Okoh stressed that unfair trade practices by the importers had significantly lowered Aluwork's market share, resulting in poor cash flow and financial losses over the years. He said the challenges facing Aluworks were the result of inefficient operational systems, obsolete equipment and weak internal systems, not unfair trade practices by importers. "We need Aluworks to be competitive, but we reject the claims that unfair trade practices are making them less competitive. He said it would be meticulous in its activities and strictly apply due process to ensure that the right things were done to protect local businesses against unfair trade practices.

Source: GhanaWeb January 10, 2020 07:30 UTC