Accra, Dec. 12, GNA
– Mr Alan Kyeremanten, the Minister of Trade and Industry, has called on
investors to take advantage of the continental free trade agreement to invest
in the various sectors of the economy.
He said with the
African Continental Free Trade Area (AfCFTA) the continent would offer a
potential market of over 1.2 billion people, an emerging high middle class and
a youthful population, adding that investors would stand to gain from their
investments as they have a bigger market to explore.
Mr Kyeremanten said
this in a speech read on his behalf by Mr Ntim Donkor, the Director of Domestic
Trade at the Ministry of Trade and Industry, at the opening of the 6th
International Trade Show on Agriculture, Food, Plastics, Printing and
Packaging.
The Minister said
government is prioritizing the agro-processing sector as part of efforts to
transform the agricultural sector and to develop the country’s economy.
Mr Kyeremanten said
agro-processing is one of the fastest growing sectors and urged companies to
invest, adding that government’s flagship programmes such as the One District
One Factory, Planting for Food and Jobs are aimed boost the contribution of the
sector to the economy.
Madam Olem Gulsun
Ergun Ulueren, the Turkish Ambassador to Ghana, said Ghana and Turkey has had a
long-standing relationship with Ghana among the top three trade partner
countries.
“Turkey is endowed
with high quality manufacturing companies and food producers with products such
as vegetable oil, meat processing, animal feed, plant and food packaging”, she
said.
She said Turkey is
the world’s 7th largest agricultural producer and accounts for about
US$ 70.7 billion in several countries that they partner with.
She lauded
government’s flagship programmes such as the One District One Factory and urged
government to continue in its efforts to boost the agricultural sector.
Ms Dorothee
Dinkelaker, the Head of Corporation at the German Embassy, said that
agriculture is the focal point of co-operation between Ghana and Germany for
many years.
Agro-processing, she
said, is an important area with a major potential for economic growth, adding
that agriculture production offers a huge opportunity for job creation along
the value chain.
She said Germany has
the technology and expertise to enhance agricultural development in Ghana.
Mr Paul Marz,
Managing Director at Fairtrade, organizers of the event, said the show is
relevant due to West Africa’s growing market for agricultural technology, food
and beverage technology imports and food trade.
He said West African
imports of Agricultural Machinery reached EUR187 million in 2016. Food and
Beverage Technology had an annual growth rate of 7.8 per cent between 2015 and
2018.
Food Trade Imports
according to the World Trade Organization (WTO) in 2017 reached USD 16.19
billion while exports reached US$14.38 billion.
Plastics Technology
also grew to 22 per cent in 2019 with Ghana, Ivory Coast, Guinea, Senegal, Togo
and Mali as major importers.
Dr Michael Blank
from the Delegation of German Industry and Commerce (AHK Ghana), co-organizers
of the event said that the trade show was good for countries such as Ghana
especially as government plans to establish itself as a trade hub.
He said that Ghana’s
stability would help to catch the attention of the needed investors.
The trade show saw
the mounting of 17 country pavilions from China, Ghana, Flanders/Belgium,
Germany, Morocco, the Netherlands, Sri Lanka and Turkey among others.
GNA
