Saturday, June 15, 2024

Buy now


E/R: Ghana’s Export Capacity to Boost with AfCFTA – Hon. Herbert Krapa

Deputy Minister of Trade and Industry Herbert Krapa says the African Continental Free Trade Area (AfCFTA) initiative will enhance and increase Ghana’s export capacity to the international market when it is fully implemented.

The deputy minister stated that the AfCFTA program will now create a common market for all African countries and bring all African markets under one uniform umbrella for free trade on the African continent.

According to the deputy minister of trade, following the implementation of the AfCFTA program, Ghana will soon commence the exportation of containers to other neighboring African countries with duty and quota-free charges.

The Ministry of Trade and Industry and Ghana Export Promotion Authority (GEPA) has therefore begun an engagement with key stakeholders in the sector on how the AfCFTA program will benefit them when it is fully implemented.

Herbert Krapa disclosed a Capacity Enhancement Project on the National Export Development Strategy for some key stakeholders in Koforidua in the Eastern region.

This also forms part of the National Export Development Strategy (NEDS) District Sensitization workshop which is to take effect in all the regions in Ghana.

The deputy minister reiterated that the National Export Development Strategy is an initiative by the President of the Republic of Ghana H.E Nana Akuffo Addo which aims at raking in revenue of about 25 billion by 2029 for the country.

Furthermore, the government through the ministry of trade and industry will soften its regulations in the new strategic plan to give confidence to many people to expand their capacity to export more of their products.

On the other hand, Mr. Emmanuel Bonney who is the Eastern Regional Director of the Ministry of Trade and Industries said the current situation about the depreciation of the cedi currency requires that exporters sell more goods to get enough reserves to be able to prevent the cedi from depreciating.

He added that the Eastern region earns a value of around 18% from the traditional export which is rated as low, therefore to increase in export in the region will mean the region diversifies its export from traditional to non-traditional export as part of the new policy directive to export more.

The Deputy Chief Executive Officer of Ghana Export Promotion Authority (GEPA) Mr. Albert Kassim Diwura advised all stakeholders at the district level to fully participate in the new policy direction which is the African Continental Free Trade Area (AfCFTA) program to make the “one district, one exportable product a reality.

He noted that the benefit of the program to the country is enormous since exporting more goods will lead to raking in more dollars which in return will strengthen the cedi to appreciate on the international market.

Source: Ansah

Related Articles


Please enter your comment!
Please enter your name here

[td_block_social_counter twitter="tagdivofficial" youtube="tagdiv" style="style8 td-social-boxed td-social-font-icons" tdc_css="eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjM4IiwiZGlzcGxheSI6IiJ9LCJwb3J0cmFpdCI6eyJtYXJnaW4tYm90dG9tIjoiMzAiLCJkaXNwbGF5IjoiIn0sInBvcnRyYWl0X21heF93aWR0aCI6MTAxOCwicG9ydHJhaXRfbWluX3dpZHRoIjo3Njh9" custom_title="Stay Connected" block_template_id="td_block_template_8" f_header_font_family="712" f_header_font_transform="uppercase" f_header_font_weight="500" f_header_font_size="17" border_color="#dd3333"]
- Advertisement -spot_img

Latest Articles