16 July 2014

Ghana Aims to Double Exports By 2015

Accra — GHANA has launched a national export strategy that would enable it double exports to US$5 billion by end of 2015.

Minister for Trade and Industry, Haruna Idrissu, said the government was seeking to establish a non-partisan export advisory council to improve the export growth of the economy.

“I am accordingly advised by President John Dramani Mahama to consider establishing a non-partisan export advisory council which should have former ministers of trade and industry, former chief executives of the Ghana Investment Promotion Council (GIPC) and the Ghana Investment Promotion Authority together with other private sector players to advise government on future opportunities of expanding our exports,” he noted.

The Minister said the export advisory council will advise the minister of Trade and Government on how to take advantage of exports opportunities.

This, he said, came at a time when government had taken major decisions regarding its trade relations with the European Union.

Mr Iddrisu explained that the preferential trade agreement with the EU will add market access regulation, net physical compensation and other issues of ratification to export sector.

“We have to take advantage of this relationship and build the capacity of Ghanaians for expanded exports, which will improve the foreign exchange regime.”

According to him, the fundamentals of the economy and social and political stability should work together for the development of the country.

He said Ghana had failed to take advantage of the commercial agricultural opportunities, which he said had compelled companies to import in order to process for international markets.

He said the lack of capacity of indigenous farmers was to blame for the trend.

He said as part of measures to address this challenge, the government had expanded the Export Development and Investment Fund (EDIF) in order to support more farmers.


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