{"id":357114,"date":"2017-09-27T07:00:15","date_gmt":"2017-09-27T07:00:15","guid":{"rendered":"http:\/\/citifmonline.com\/?p=357114"},"modified":"2017-11-10T11:03:30","modified_gmt":"2017-11-10T11:03:30","slug":"define-all-boundaries-to-restore-investor-confidence-acep","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/09\/define-all-boundaries-to-restore-investor-confidence-acep\/","title":{"rendered":"Define all boundaries to restore investor confidence – ACEP"},"content":{"rendered":"

Energy Policy Think Tank, the Africa Centre for Energy Policy (ACEP), is confident the recent judgment by the International Tribunal of<\/strong> the Law of the Sea<\/strong><\/span><\/a> (ITLOS) will boost investment opportunities in the oil sector for Ghana.<\/p>\n

According to its Executive Director, Ben Boakye, West African countries must\u00a0take the matter of demarcating their boundaries seriously to avert negative consequences on their economies.<\/p>\n

[contextly_sidebar id=”ls7n0BTzaz6vQQmR1BgIRInsD8IweeNT”]Speaking to Citi News,\u00a0<\/strong>Mr. Boakye said disputes over maritime\u00a0boundaries tend to deter investors who fear they may lose their investments\u00a0if\u00a0an unfavorable decision is taken after their\u00a0dispute.<\/p>\n

His comment comes after Ghana won a 3-year-long maritime dispute\u00a0with its Western neighbours, Ivory Coast\u00a0in a case where\u00a0the country could have \u00a0lost major oil blocs.<\/p>\n

\u201cIt is important that countries sign documents and define their borders clearly so that some of these conflicts do not arise. So they are not occasioned when there are discoveries of mineral resources in between countries. That also helps to improve the investment climate because if there are conflicts along borders, you don\u2019t get anybody interested in putting in money. If there is clarity on the borders, that attracts investment,\u201d Ben Boakye said.<\/p>\n

He said the West African countries must document their boundaries\u00a0at the International level, to avoid further conflicts.<\/p>\n

Ghana wins ITLOS case<\/strong><\/p>\n

The Special Chamber in a unanimous decision on Saturday September 23, 2017, ruled that there has not been any violation on the part of Ghana on C\u00f4te d\u2019Ivoire\u2019s maritime boundary.<\/p>\n

It rejected C\u00f4te d\u2019Ivoire\u2019s argument that Ghana\u2019s coastal lines were unstable, noting that\u00a0Ghana has\u00a0not\u00a0violated C\u00f4te d\u2019Ivoire\u2019s sovereign rights with its oil exploration in the disputed basin.<\/p>\n

Justice Boualem Bouguetaia, President of the Special Chamber in reading the judgment, accepted Ghana\u2019s argument\u00a0of adoption of the equidistance method of delineation of the\u00a0maritime boundary<\/strong><\/a>.<\/p>\n

–<\/p>\n

By: Jonas Nyabor\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

Energy Policy Think Tank, the Africa Centre for Energy Policy (ACEP), is confident the recent judgment by the International Tribunal of the Law of the Sea (ITLOS) will boost investment opportunities in the oil sector for Ghana. According to its Executive Director, Ben Boakye, West African countries must\u00a0take the matter of demarcating their boundaries seriously […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,171,11],"tags":[699,11404,3,84],"yoast_head":"\nDefine all boundaries to restore investor confidence - ACEP - Citi 97.3 FM - Relevant Radio. 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