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Nov 8, 2013

Ghana increases trade with ECOWAS members


Mr Haruna Iddrisu, Minister of Trade and Industry on Thursday said Ghana has increased its export trade with countries belonging to the Economic Community of West African States (ECOWAS).

He said unlike the previous years when Ghana’s export trade with the European Union (EU) was 60 per cent, the situation has changed.

He said Ghana’s export trade with members in the ECOWAS sub region is now 31.8 per cent and is almost at par with that of EU which has reduced to 34.2 per cent.

Mr Haruna Iddrisu said this in a speech read on his behalf at the on-going ECOWAS Trade Fair in Accra, when Ghana held its national day.

He said the huge participation of the fair which has 690 participants from member countries is a manifestation of their zeal to ensure regional integration and achieve the aims and objectives of ECOWAS.

He said Ghana would join other member states to ensure the implementation of the common external tariffs as well as the trade liberalisation scheme, to ensure the free transport of goods in the sub region.

He also commended the ECOWAS Commission for implementing policies and regulations geared towards promoting regional integration and making the private sector as the engine of growth.

He said government would from 2014 start the implementation of a district industrialisation programme to pave way for the establishment of industries.

Mr Iddrisu said the programme would help create jobs for the unemployed youth as well as generate money for the state.

Mr Prosper Quarshie, a representative of the Ghana Investment Promotion Centre said the sound economy and stable peace make Ghana the best place for investment.

He said there are many investment opportunities that are available and some of the prioritise sectors include oil and gas, housing and property development, energy, road, tourism and the service sector.

Mr Quarshie said there are sound incentives and a guarantee to protect any investor and urged investors to take advantage of the numerous opportunities available.

Representatives from Ghana Export Promotion Authority and the Narcotics Control Board took turns to address the participants on their various areas of operations.

Source: GNA