Improve Trade is the best form of assistance

Accra, July 25, GNA - Dr. Kofi Konadu Apraku, Minister of Regional Co-operation and NEPAD said promoting trade relations and improving market access to countries in West Africa was the best assistance the developed world could give to countries in the sub-region.

He said trade offered a good opportunity for countries to enhance job and wealth creation, increase the level of employment and to reduce poverty, which is now the priority of the governments of the region.

Dr Apraku was speaking at the launch of an international trade and investment exhibition and conference scheduled for February next year on the theme: "America and West Africa: Partners in Development."

African Connections, a non-profit corporation, which links Africans and Americans interested in developing co-operative business ventures, is organizing the conference.

Dr Apraku said the region, apart from its abundant raw material was paying serious attention to the improvement of infrastructure to enhance business.

There is also an on-going programme to establish a Customs Union in the region, remove tariff barriers and put in place a common external tariff.

"Efforts are on the way to introduce a common currency that will circulate in the region and this will facilitate commercial and trading transactions of the business community," he said.

He lauded the duty free access to the US market through the landmark legislation of AGOA, saying it had increase the volume of United States imports from West Africa.

Total US imports from West Africa at the end of 2001 stood at 9.6 billion dollars, with goods imported under AGOA accounting for 62 per cent of the amount.

Alhaji Bukari Ben Salifu, Minister of State Responsible for Public Sector Reforms said an America-West Africa partnership could help accelerate the process towards the creation of a regionally integrated and competitive market.

The conference will discuss the West Africa Business environment, business opportunities in the various sectors and finance options available to investors willing to do business in the sub-region.