Ghana has begun industrial work to assess market potential for uptake of specific products on the African continent.
This has become necessary due to the impending implementation of the Africa Continental Free Trade Area (AfCFTA) and National Export Development Strategy which seek to harness the potential of the private sector and export commonality in general.
The move falls in line with the Africa Union and International Trade Centre’s initiative in providing solutions to countries in an effort to avoid an overlapping of export sector priorities as countries could potentially prioritize similar produce ahead of AfCFTA implementation next year January.
Indeed, Ghana’s current export to Africa hovers around US1.4 billion. Although the country’s export to the continent has been growing at annual rate of 10.2% since 2015, Ghana’s share of total intra-African trade combined, that is, imports and exports, within Africa is only 4%, according to the Ministry of Trade and Industry (MoTI).
This warrant the need to critically assess Africa’s market potential for uptake of specific products that seek to harness the potential of Ghana’s export community.
In a keynote address read on behalf of Alan Kyerematen, Minister for Trade and Industry, by Dr. John-Hawkins Asiedu, Technical Director of MoTI, he stated that it has become imperative the private sector is adequately resourced by governments in the wake of the implementation of AfCFTA and NEDS.
To achieve the set objective of the Strategy to enable Ghanaian businesses take optimal advantage and harness their opportunities in the operationalisation of AfCFTA, Ghana Export Promotion Authority (GEPA) has outlined strategic interventions expected to be taken at regional and district levels.
Speaking during a regional conference on the implementation of AfCFTA and NEDS in Wa in the Upper West Region, Chief Executive Officer of GEPA, Dr. Afua Asabea Asare noted that the Authority is committed to perform its coordinating role in the development and facilitation of exports.
“It is expected that each district in Ghana should develop at least one exportable product that will provide the needed raw materials to feed the ever-expanding numbers of factories being established and this is under GEPA’s suggested One District, one Factory Product (1D1F) programme, a speech read on her behalf by a Deputy Chief Executive of the Authority, said.