Accra — Minister of Trade and Industry, Hon Hannah Tetteh, has urged all stakeholders to ponder on how collectively they can move small and medium enterprise (SME) sector of the economy forward in the right direction.

Hon Tetteh also called on African countries to work together to establish the appropriate governance and infrastructure for industrial development so as to be the source of quality industrial products and not just a source of raw material.

She also urged African countries to actively pursue Public Private Partnership (PPP) as they seek sustainable development.

The Minister was addressing the 20thAnniversary Celebration of the Africa Industrialization Day (AID) on Friday in Accra. The day was observed under the theme "Industrialization for Integration".

Hon Tetteh used the occasion to launch the 9th National Industrial Week.

The AID is intended to mobilize the commitment of all stakeholders 'both domestic and international' in the industrialization of Africa.

Hon Tetteh said integration covers broad areas, such as adherence to common sub-regional master plan for industrialization, exploration of sub-regional market, and the development of horizontal, vertical and regional SME networks. It also covers the strengthening of professional and technical association to make use of opportunities available, integration of domestic enterprises with competitive and comparative advantage into the global value chain and specific integrated projects.

She explained that these programmes when explored by various African countries will contribute towards industrialization, raise productivity, create employment, diversify the export base and generate income for the people of the continent.

She further said it is important also to note that Africa is one of the wealthiest continents in terms of natural resources and that we should challenge ourselves to create sustainable profitable business that will add value to these resources.

Hon Tetteh added that over the past decade African economies have grown at an average rate of 5.4% and we should be encouraged by the fact that African economies are now growing at steady rates and there is the need to reduce poverty and attract more foreign direct investment.

In her view, this celebration is appropriate since the SME sector covers about 85% of Ghana's economic activities and that the Association of Ghana Industries (AGI) is studying the SME charter and will soon engage in the implementation of the Charter and boost activities of SMEs nationwide.

She therefore said there is the need to build capacities of our manufacturing industries through technology acquisition, skills development, and access to capital market to ensure sustainable development of our industries.

UNDP Country Director, Dr Kamil Kamaluddeen explained what the UN system is doing to assist the government of Ghana. He said the United Nations Industrial Development Organization (UNIDO), is working with the Ministry of Trade and Industry (MOTI) and the Ghana Investment Promotion Centre (GIPC) to work on an Investment Monitoring Platform Survey which is looking at the flow of investments into Ghana.

Dr. Kamaluddeen added that the UNIDO is working with the MOTI to build trade capacity in Ghana and also enhance the country's export performance, strengthen supply capacity in selected agriculture and foster integration into the multilateral trade system.

He later said the UNIDO and the MOTI are again working on the "Upgrading and Improving Competiveness of Industries and Related Services in Ghana" project. He said this will accelerate economic growth, eradicate poverty, and reduce inequality by increasing employment.