Alarm at decline in Ghana-German trade

Accra, Oct. 4, GNA - The Ghanaian-German Economic Association (GGEA) on Wednesday expressed alarm at the declining volumes of trade statistics between Ghana and Germany, with Ghana at a disadvantage. Addressing the opening of the first-ever GGEA Trade Fair in Accra, Mr Stephen Antwi, President of GGEA, said it was disheartening that in 2004, trade volumes between the two countries finished at only 230 million Euros.

Ghana's exports of cocoa, timber and fruits were only 90 million euros with Germany's exports of technical equipment and machinery being 140 million euros.

He said previous annual figures indicated a disturbing declining trend, but expressed the hope that activities of the GGEA, which were among others geared towards reversing the trend, would succeed. The GGEA is a group of Ghanaian and German business operators seeking to increase penetration of goods and businessmen in their two countries. They also hold seminars and workshops to disseminate information on trade and services available in each other's country. Mr Antwi said the hosting of the fair was part of the Association's response to the unfortunate situation.

He said they had published two books - "Doing Business in Germany and the European Union" and "Doing Business in Ghana" - providing vital information for potential business people, who would want to invest in either country.

Mr Antwi urged the Government to make the one-stop idea of the Ghana Investment Promotion Centre to work 93otherwise we lose our credibility and bid to attract investment from the rest of the world". Mr Peter Linder, German Ambassador in Ghana, called for closer cooperation between the two countries and expressed the hope that efforts would be initiated to increase trade between the two countries. Mrs Ohenewaa Konadu, Deputy Minister of Trade and Industry and President's Special Initiatives, said the fair should be an opportunity to review relations.

She thanked the German Government for supporting the Ghanaian Government financially and called for increase of exports to Germany.