Ghana increases trade with ECOWAS members

The Minister of Trade and Industry, Mr Haruna Iddrisu, on Thursday said Ghana has increased its export trade with countries belonging to the Economic Community of West African States (ECOWAS).

According to him, unlike the previous years when Ghana’s export trade with the European Union (EU) was 60 per cent, the situation has changed because Ghana’s export trade with members in the ECOWAS sub region is now 31.8 per cent and is almost at par with that of EU which has reduced to 34.2 per cent.

In a speech read on his behalf at the on-going ECOWAS Trade Fair in Accra, he revealed that the huge participation of the fair which has 690 participants from member countries is a manifestation of their zeal to ensure regional integration and achieve the aims and objectives of ECOWAS.

He said Ghana would join other member states to ensure the implementation of the common external tariffs as well as the trade liberalization scheme, to ensure the free transport of goods in the sub region.

He revealed government’s plans to start the implementation of a district industrialization program to pave way for the establishment of industries in 2014 which would help create jobs for the unemployed youth as well as generate money for the state.

Mr Haruna Iddrisu commended the ECOWAS Commission for implementing policies and regulations geared towards promoting regional integration and making the private sector as the engine of growth.

Meanwhile, Mr Prosper Quarshie, a representative of the Ghana Investment Promotion Centre (GIPC) on his part noted the sound economy and stable peace make Ghana the best place for investment.

In his opinion, there are many investment opportunities that are available and some of the prioritise sectors include oil and gas, housing and property development, energy, road, tourism and the service sector as he urged investors to take advantage of the numerous opportunities available.

Representatives from Ghana Export Promotion Authority and the Narcotics Control Board took turns to address the participants on their various areas of operations.