Ghana has renewed its commitment to strengthening trade and cooperation among developing countries at the Global System of Trade Preferences among Developing Countries (GSTP) Ministerial Meeting in Geneva.
The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, made this known on Wednesday, October 22, 2025, when she addressed ministers and senior officials from across the developing world.
She welcomed efforts to revive and modernize the GSTP, which was established in 1988 under the United Nations Conference on Trade and Development (UNCTAD) to promote trade preferences among developing nations.
Madam Ofosu-Adjare explained that the GSTP remains a vital tool for expanding trade, investment, and technology exchange among developing countries, especially at a time when global trade faces challenges such as geopolitical tensions, debt burdens, and climate-related pressures.
“Ghana sees the GSTP as a platform to translate our collective market potential into concrete partnerships for value addition, innovation, and sustainable development,” she stated.
The Minister called for a careful and inclusive review of the São Paulo Round outcomes to ensure that future actions align with the current global context and the needs of developing economies.
She said the meeting provided an opportunity to assess progress and map out a practical approach for revitalizing the GSTP in a way that supports development.
Highlighting the president’s vision under the 24-hour economy, Industrial and Agribusiness Transformation Programme, she said Ghana aims to boost productivity, enhance trade competitiveness, and create jobs.
She added that Ghana’s role in the African Continental Free Trade Area (AfCFTA) places the country in a strong position to connect regional and inter-regional markets, which could speed up industrialization and export diversification across Africa.
Madam Ofosu-Adjare also encouraged members to include digital trade, green industrialization, and small business participation in the next phase of the GSTP.
She appealed to UNCTAD to provide technical support to help developing countries make the most of preferential trade opportunities.
Ghana’s participation in the GSTP Ministerial was part of its wider involvement in the UNCTAD XVI meetings, where the country is advocating for fairer trade, regional integration, and technology-driven economic transformation.
By: Jacob Aggrey
