"Bankrupt" K-Mart to Boost Ghana's Textile Exports

Kmart Seeks Bankruptcy Protection

The textile and garment trade under the President’s Special Initiative Project, is to receive a big boost in exports to the United States market, under the African Growth Opportunities Act (AGOA).

A leading United States retail and distribution firm, K-Mar Corporation, has offered to assist in the export and distribution of the textile and garment to be produced under the PSI to marketing firms in the United States.

The deal was reached following successful negotiations between Ghana’s Ambassador to the United States, Mr Allan Kyeremanten, and K-Mart Corporation, the second largest retail and distribution outlet involved in the export and import trade in the United States.

Mr Kyerematen on Thursday led a delegation from K-Mart Corporation including its Vice-President, Mr Dale Apley, to call on President John Kufuor and hold discussions on the deal.

Mr Apley told President Kufuor that K-Mart Corporation was adding Ghana to its list of business interests worldwide to enable it to export the garment and textile produced under the PSI to the United States market, using the AGOA advantage.

This was the result of several months contacts made between Mr Kyerematen and K-Mart Corporation during which the two sides shared a lot of ideas on the PSI, while discussing the many opportunities involved, he said.

Mr Apley said that his firm was already involved in business in sub-Saharan Africa, dealing with the export of a lot of products manufactured by countries in the region. He said that K-Mart corporation was, therefore, very glad to open its door to the government and do business with Ghana with respect to the textile and garment aspect of the PSI.

Introducing the delegation earlier, Mr Kyerematen, a key figure in the implementation of the PSI, said that Mr Apley requested to come to Ghana himself to explore opportunities which would help his firm to determine its own production levels with regards to the textile and garment trade.