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Jun 21, 2011

InterState exports give Ghana $60 million

Ms. Hannah Tetteh, the Minister for Trade and Industry (MoTI), says Ghana has made $60 million from inter-state trade in export commodities with Morocco in the last five years.

She adds that consequently, government will assist local business to identify partners and facilitate their efforts to develop and grow existing businesses, as well as enable to them create new ventures that will significantly increase their wealth creation capacities.

Ms. Tetteh made this known in Accra at the fourth Moroccan Business Caravan to West Africa and said collective figures for all exports to Morocco over the past five years averaged $3 million.

She stated that her ministry is implementing its trade policy with particular emphasis on the project contained in the Private Sector Development Strategy (PSDS), adding that those programs have embedded in them provisional support, as well as institutional systems that are designed to catalyze investment promotion and growth.

Ms. Tetteh pointed out that Morocco has continued to be an important partner of Ghana, in both political and trade relations since independence and advised Ghanaian businesses to make the most of the opportunities available to match their counterparts from Morocco, explore and discuss possible partnerships and joint venture ship for business growth.

Dr. Abdellatif Mazouz the Minister of Foreign Trade of Morocco, on his part stressed the need for trade between Morocco and Ghana to be further strengthened to achieve more ambitious level and accelerate the progress observed in recent years.

He therefore called for the strengthening of the legal framework pertaining to trade relations through the establishment of an ambitious Preferential Trade Agreement (PTA) which might boost the pace of trade and investment between the two countries.

Source: ISD