Ghana earns $2.557bn from non-traditional exports

Ms Asare (left) addressing the participants during the forum

Ms Asare (left) addressing the participants during the forum

Ghana’s Non Traditional Exports (NTEs) in 2017 amounted to US$2.557 billion dollars.

 

This represented an increase of 3.81 per cent compared to the US$2.463 billion dollars recorded in 2016.

 

Chief Executive Officer of the Ghana Exports Promotion Authority (GEPA), Ms Afua Asabea Asare, explained that the high performance recorded last year was due to increase in exports of cocoa products, which rose by 60.5 per cent from US$542.3 million dollars in 2016 to US$870.2 million in 2017.

 

Processed/Semi Processed Products including Cocoa paste, Cocoa powder, she said accounted for 82.35 per cent of total NTEs while agricultural produce and industrial art and craft were responsible for 17.25 per cent and 0.41 per cent respectively.

 

She was speaking in Accra yesterday at the 78th National Exporters’ Forum organised by the GEPA to address various market access issues that confront the export community.

 

The event was also to launch the report on analysis of 2017 non-traditional export statistics and the Buyer Portal, an integrated segment of the GEPA Market Hub designed to provide useful links and information on exporter companies to potential global buyers.

Ms Asare said the GEPA has targeted increasing the contribution of NTEs from the current US$2.55 billion dollars to US$5.3 billion by the end of 2021.

 

This, she said would be achieved through the mass spraying and distribution of grafted seedlings Programme for cashew which was expected to increase yield by 30 per cent, the preparation and delivery of 15 million suckers of pineapple and a committed fund of GH¢4.2 million aimed at improving revenues to US$13 million dollars within a few years.

 

Additionally, the One District One Exportable Product, distribution of 60,000 hybrid coconut seedlings as part of the Coconut Export Revitalisation Project, support for garments manufacturers as well as the development of the beads industry, she stated were part of interventions aimed at supporting the realisation of NTEs target.

 

Deputy Minister of Trade and Industry, Carlos Kingsley Ahenkorah, noted that despite the gains made in the export sector, high interest rates, poor product certification, poor packaging and labelling, weak logistics chain among others, were recurring challenges that impede the export business environment.

 

In this regard, he said government introduced the National Industrial Revitalisation Programme with a stimulus fund of US$200 million to support distressed but viable businesses and the Export Development and Diversification Programme aimed at diversification, competitiveness and development of more export markets for an expanded range of products.

 

The ministry was also restructuring the operations of the GEPA to enhance export diversification and take advantage of the Economic Partnership Agreement (EPA), Intra Africa Trade and other trade agreements to increase Ghana’s exports and providing support to the Association of Ghana Industries (AGI), Ghana Chamber of Commerce for export promotion activities.

 

He reiterated government’s commitment to minimise barriers that inhibit the progress of the various businesses and stakeholders, adding that the development of local companies to compete in the global market place was the way to economic emancipation.

 

Mr Fred Obeng-Ampofo of KAEME.com, a company which exports shea butter and African black soap, called on the government to improve financial and operational support to businesses to be able to compete with foreign companies which had strong financial backings.

BY CLAUDE NYARKO ADAMS AND EVANGEL KELVIN AINOO

 

email
Print Friendly

Leave a Comment