GEPA targets $3.1 billion NTEs earnings in 2014

Ghana Export Promotion Authority (GEPA) says it is targeting $3.1 billion in earnings from the export of non-traditional products in 2014 in line with the National export strategy.

The target represents a 30 per cent increase in earnings compared with the $ 2.436 billion raked in for 2013.

The US$ 2.436 billion in 2013 is an increase of 3.05 per cent over the previous year’s earnings of US$ 2.364 billion.

In August 2013, the government launched the National Export Strategy, aimed at raising the level of export proceeds from the non-traditional export sector to US$5 billion by the year 2017.

Mr Gideon Quarcoo, Acting Chief Executive Officer of GEPA, told the 75th National Exporters Forum that, to ensure the target of 2014, as well as the achievement of the US$ 5 billion in 2017, there must be an aggressive implementation of GEPA activities and programmes.

There must also be the execution of the various projects lined up in the National Export Strategy by GEPA in collaboration with other key export stakeholders.

Besides, he said, the Government must work towards the realization of good macro-economic conditions such as the stabilization of the Cedi to the Dollar, the reduction in inflation, and make funds available to the sector and to key export trade facilitating agencies, especially GEPA, to assist the private sector to drive the anticipated increases in Non-Traditional Export revenue this year and beyond.

Mr Quarcoo said the Export Trade, Agricultural and Industrial Development Fund must also continue with its expansion of credit facilities to exporters and export facilitating institutions to help them carry out their activities to help increase the earnings of the sector.

In 2013 non-traditional products were exported to 140 countries.

The Netherlands continue to dominate the European Union for Ghana’s non-traditional export products, importing US$ 243.27 million worth of produce as compared to US$ 288.69 million in 2012, a decrease of 15.73%.

The United Kingdom ranks second with an increase of 12.84 per cent from US$ 144.94 million in 2012 to US$ 163.55 million.

These trends, he said, were largely influenced by the volume of imports of cocoa products and canned tuna by the two countries.

In the ECOWAS, Burkina Faso overtook Togo as the leading market for Ghana’s non-traditional products to the West African sub-region.

Imports of Ghanaian products into the Burkina Faso market increased by 19.28% and amounted to US$197.09 million compared to US$ 165.23 million in 2012.

Togo’s share of imports of Ghanaian products, however, decreased by 20.18% from US$ 202.54 million in 2012 to US$ 161.68 million.

Mr Quarcoo said the sector continued to be driven by value added products such as cocoa and timber products.

However, he said, the full potential of these value-added products had not been realized yet and efforts must be made to achieve higher levels of value-addition through enhanced investments in agro-processing and other productive sectors.

The National Exporters Forum is a platform for interaction between exporters and facilitating institutions and has helped identify and address constraints in the non-tradition export sector.