Africa, Agricultural Investment Fund, Business, Export, GDP, ghana, Government, Gross domestic product, Haruna Iddrisu, International Business and Trade, International standard, Minister of Trade, Ministry of Trade, Ministry of Trade & Industry, MOTI
Reflex Eco Group – Ghana News
by Cephas Larbi (Local Journalist)
The Director of Export Trade at the Ministry of Trade and Industries (MOTI), Gerald Nyarko-Mensah has revealed that Ghana needs an investment capital of $600 million to implement the National Export Strategy.
He said the strategy, when implemented, would among other things, build the capacity of the Ghana Export Promotion Authority and the Metropolitan Municipal and District Assemblies to diversify export and increase Non-Traditional Exports (NTEs).
Nyarko-Mensah, who was speaking at the launch of the national export strategy and the national export development programme, said MOTI intends to increase the country’s non-traditional export from the current export value of $2.64 billion to $5 billion by 2017.
He said the strategy would put Ghana on the global map as a world-class exporter of competitive products and services to promote sustainable environmental development and improve the balance in spatial and regional development.
Mr Nyarko-Mensah said the policy would also strengthen and resource export-related institutions to ensure every district obtains at least one significant commercial viable agro-based export product.
He said Ghana would no longer depend solely on export commodities but over the period invest in fresh and processed fish, vegetable oil, root crops, grains and legumes, natural rubber and products of the creative arts.
This, he said, would boost the country’s Gross Domestic Product (GDP).
Haruna Iddrisu, Minister of Trade and Industry, said government is committed to boosting the country’s non-traditional export sector.
He said Ghanaian exporters are unable to add value to their products to meet international standards.
Hon. Iddrisu advised them to produce quality products to meet international market standards.
He indicated that government had started a process to equip Export Development and Agricultural Investment Fund to enhance agricultural growth.
The Minister said the government would give stimulus packages to some medium-scale enterprises beginning next year, stating that when the country improves the export trade, it would have a significant impact on the balance of trade deficit.
Alhaji Abdul Basit Fuseini, Deputy Northern Regional Minister, indicated that the region had positioned itself as a strategic destination for business, noting that the area is no longer considered a conflict zone.
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