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Business News of Friday, 27 September 2019


Chamber of Commerce engages stakeholders on National AGOA Response Strategy

The National African Growth and Opportunity Act (AGOA) The National African Growth and Opportunity Act (AGOA)

The Ghana National Chamber of Commerce and Industry (GNCCI) has engaged stakeholders to equip them on the need to take informed decisions on export and trade with the United States.

The stakeholders were engaged at a sensitisation workshop in Accra organised by the GNCCI in partnership with the USAID to activate the utilisation of the National African Growth and Opportunity Act (AGOA) Response Strategy.

Topics discussed at the workshop included: “Documentation and Export Procedures”, “Basics and Requirements for Foodstuff Export to the U.S.”, “Standards and Compliance in the Handicraft Sector”, and the “AGOA National Strategy of Ghana”.

Nana Appiagyei Dankawoso I, the President of GNCCI in his welcome address, said as the representative organ of the business community in Ghana, the Chamber recognised the critical role, that access to information and capacity building played in sustaining growth of businesses.

As such, he said, the Chamber organised capacity building programmes to develop and strengthen the soft and hard skills of business owners to stay competitive and improve their operations towards growth and prosperity.

Mr Alan Kyeremateng, the Minister of Trade and Industry in a statement delivered on his behalf explained that AGOA would provide market access to eligible Sub-Saharan African countries to enter the US Market.

The initiative, he explained, encouraged economic integration, stimulated economic growth and facilitated Sub-Sahara African integration into the global economy.

Since the passing into law of AGOA in 2000, both Africa and the US had derived benefits from their economic relations including; positive strives on exports, jobs and incomes.

However, he said the potential for economic growth based on the original intent of AGOA to stimulate economic growth was not fully realised despite the recorded success stories.

Mr Kyeremateng said the task of promoting African growth and development through AGOA was indispensable and in line with African aspirations for Agenda 2063, where the entire continent would have rededicated themselves to the mission of an integrated prosperous and peaceful Africa.

Government, he said, initiated reforms and continued to create an enabling environment for businesses to thrive.

He advised businessmen and women to take advantage of the African Continental Free Trade Agreement and Area to support African integration agenda by encouraging local supply chain systems and trade facilitation.

“I also urge you to encourage trade and investment at business to business level to better appreciate trade and investment opportunities in Ghana and the US,” he said.