Ghana to host 6th AGOA forum

Tema, July 4, GNA- Ghana is hosting the Sixth US Sub-Saharan African Growth and Opportunity Act (AGOA) forum in Accra, from July 16 to July 19, 2007.

The forum is expected to attract officials from the US, who are the brainchild of AGOA, representatives from the over 37 beneficiary countries and civil society groups.

Objectives of AGOA include the strengthening of trade and investment ties between Africa and the US through the elimination of barriers, granting of duty free access to goods promote market-based economies and the rule of law.

Mr. Alan Kyeramaten, Minister of Trade, Industry, Private Sector Development and the President's Special Initiative (PSI) who announced the forum in Tema on Wednesday, said the event was testimony to the strides Ghana had made in the promotion of the garments industry. He was speaking at the inauguration of the 62 billion-cedi PSI Garments Village Complex at the Tema Export Processing Zone, which provides modern factory units for companies manufacturing for the export market, particularly to the US under AGOA.

Mr Kyeramaten said promotion of the textile industry was key to efforts being made by the Government to diversify the economy and generate sufficient capital and employment.

He said 8,000 youth had been exposed to skill training to support the garment and textile industries.

Mr. Kyeramaten said Switzerland, the US and China and other countries used garment and textile manufacturing as the springboard to industrialisation.

Mr. Dwomoh Appiah, Executive Secretary of the Ghana Free Zones Board, said out of the 1,200 acres available to the export processing zone for free zone operators, the complex occupies 179 acres. He said in 2006, the zone was turned into a multi-purpose park to attract investors who fell below the requirements needed to invest in the Zone.

Mr. Dauoda Toure, United Nations Co-ordinator in Ghana said the complex marked a new phase in garment manufacturing in Ghana with a huge potential for the country, due to its strategic location in West Africa. Dr. Jatinder Cheema, West Africa Mission Director of the United States Agency for International Development, who represented Ms Pamela Bridgewater, US Ambassador, said, Ghana was a lead country in the export of textiles to America.

She said although Ghana controlled about 90 per cent of US market in West Africa, it represented only six per cent in Africa, hence the need for the country to increase production to about 50 per cent. Dr. Anthony Osei, Board Chairman of the Export Development and Investment Fund (EDIF), who chaired the function, said the fund had so far disbursed 87 billion cedis to investors to promote their businesses.

Mr. Edward Ennin, Member of Parliament for Obuasi and member of the EDIF board, told the Ghana News Agency that the complex project had dismissed public perception that the PSI had failed. 04 July 07