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Business News of Tuesday, 29 June 2021

Source: business24.com.gh

Manufacturing hub ambition will be realised - Government assures

Trade and Industry Minister, Alan Kyerematen Trade and Industry Minister, Alan Kyerematen

The Ministry of Trade and Industry says government is on course in making the country the manufacturing hub of the continent, as it has so far identified more than 200 exporters who are receiving support to export to potential markets.

Mr. Anthony Nyame-Baafi, a technical advisor to the ministry, speaking on behalf of the Minister, Alan John Kwadwo Kyeremanten, said the government in 2017 realised there was the need to increase exports, especially of value-added products.

“So from 2017, the ministry started to implement this industrial transformation agenda, and the first one was the 1 District 1 Factory (1D1F), which basically is to add value to the raw materials,” he said at a National Trade Forum in Accra.

He explained that under the Industrial Transformation Agenda, the government has a strategic plan to develop the automobile, pharmaceutical, petrochemical, industrial starch, bauxite, and iron and steel industries, which will enhance the country’s exports.

“We believe that can enhance production for both local consumption and export. Now you know, for example, that VW from Germany has come to do some manufacturing and will be exporting to neighbouring countries,” Mr. Nyame-Baafi said.

He added that as part of the strategy to boost manufacturing and export, the ministry launched the National Export Development Strategy last year, with the country now in full gear to enhance its exports to the United States market under the African Growth and Opportunity Act (AGOA), to the European Union (EU) market under the Economic Partnership Agreement (EPA), and to the continental market under the African Continental Free Trade Area (AFCTA) agreement.

“So, we can say with confidence that from this year onwards our export is going to be enhanced and we will increase our export revenue from what we gained in 2019.”

Mr. Nyame-Baafi said the government is aware of the challenges facing exporters and is doing a lot to resolve them, including by providing training to help exporters meet the quality standards of the European Union and other key external markets.

Citing an example, he added that “for smoked fish exports, the Ghana Standards Authority trained some fishmongers, and now they are able to meet the international standard.”