Ghana, Turkey trade to hit $600 million

garbrahThe Minister of Trade and Industry, Mr. Ekwow Spio-Garbrah has entreated Turkish investors to establish plants in Ghana to produce for both the local and international markets.

“Ghana does not only want to  be a market for finished Turkish products, but a partnership to tap Turkish technology and innovations to accelerate the development of the country is of priority to us,” he said.

Mr. Spio-Garbrah was speaking in Accra on Wednesday when he opened the maiden Turkish Products Fair underway in Accra.

The four-day event being held at the Movenpick Ambassador Hotel in Accra is being organised by the Turkish Embassy in Accra and the Istanbul Chamber of Commerce.

Many exhibitors from 51 Turkish companies in the areas of cosmetics, textiles, construction, machinery, food, energy, furniture and plastics are participating in the event.

Mr. Spio-Garbrah lauded Turkey for its contribution to the development of Ghana especially in the energy sector, but emphasiszed the need for Turkish companies to consider setting up factories in Ghana.

That, he said, would help boost employment in the country and also enable Ghana to tap Turkish expertise.

The minister said Ghana’s democratic stability and good governance and strategic location-close to the centre of the world, held good prospects for Turkish investments in Ghana.

Mr. Spio-Garbrah said Ghana had huge investment potentials in the areas of manufacturing, oil and gas, construction, infrastructure and tourism and urged Turkish investors to take advantage to expand their investment portfolios.

He pledged that the government would continue to work to deepen the trade relations between Ghana and Turkey, saying the value of the volume of trade between Ghana and Turkey was projected to hit $600 million by the end of 2016.

The Turkish Ambassador to Ghana, Nesrin Bayazit, said Ghana was a critical trade partner to Turkey, saying that Ghana was Turkey’s fourth largest trade partner in Sub-Saharan Africa.

She said the trade volume between Ghana and Turkey was projected to rise to $600 million and the objective was to increase it $1 billion by 2020.

Madam Bayazit disclosed that the Ministry of Economy of Turkey had declared Ghana as a priority country for 2016-2017 adding that the Turkish government would continue to invest in Ghana.

The Ambassador expressed the hope the first Turkish Products Fair in the country would help to boost the trade relations between the two countries.

Welcoming the business team, the President of the Ghana Chamber of Commerce and Industry, Dr Appiagyei Dankawoso I commended the organisers for staging the fair and appealed to the government of Turkey to facilitate Turkish businesses to establish production facilities in Ghana so as to take the economic relationship a notch higher.

The Vice President of the Instanbul Chamber of Commerce, Mr. Dursun Topcu said the Chamber, which represents the interest of over 400,000 members, has been organising fairs on behalf of members for some time and has gained considerable prestige in bringing businesses together to forge strategic partnerships across the world.

He expressed optimism that the inaugural event in Ghana would increase economic momentum and create opportunity for new partnerships with resultant progress in economic and political relationship between Turkey and Ghana.

By Kingsley Asare



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