• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Trade Minister K.T. Hammond talks enhanced trade policies to boost Ghanaian exports to the U.S.

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Trade
2 min read
0 0
0
191
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Trade Minister K.T. Hammond talks enhanced trade policies to boost Ghanaian exports to the U.S.

In a resolute proclamation, Ghana’s Minister for Trade and Industry, K.T. Hammond, has underscored the Ghanaian Government’s unwavering commitment to propelling the country’s private sector towards amplified exports, with a particular focus on the expansive U.S. market. Cognizant of the vast consumer landscape in the United States, Hammond underscored the government’s determined stance to foster a conducive environment for Ghanaian enterprises to capitalize on this pivotal avenue.

Addressing an august gathering at the 2023 U.S.-Ghana Business EXPO on August 10, 2023, Hammond articulated that the government’s compass is fixed on empowering the private sector to navigate the intricacies of the U.S. market under the strategic banner of the African Growth and Opportunity Act (AGOA).

“The U.S.-Ghana EXPO stands as a testament to the enduring commitment to cultivate robust bilateral trade affiliations between Ghana and the U.S.,” affirmed Hammond, a sentiment that resonates with the substantive import of the trading rapport shared between the two nations.

The economic interplay between the United States and Ghana has burgeoned into a dynamic and mutually beneficial relationship, reaching a zenith in 2022. The year witnessed an unprecedented milestone as the total value of traded goods between the nations scaled to a notable $3.7 billion.

Ambassador Palmer with Ayesha Ibe, Under Secretary Largo and Trade Minister K.T. Hammond

A remarkable feature was Ghana’s trade surplus with the United States, amounting to $1.8 billion during the same period. Notably, this buoyancy extends beyond tangible goods, encompassing services. Leveraging the privileges of AGOA, Ghanaian exporters can transact over 6,500 products with the U.S., unburdened by duty charges.

Underscoring its role as a chief partner in Ghana’s developmental trajectory, the U.S. Government’s concerted efforts in 2022 materialized in bilateral assistance surpassing the $150 million mark. These strategic initiatives spanned crucial domains including health, economic growth, agriculture, education, human rights, governance, and security. This steadfast commitment also extended to Ghana’s agricultural sector, as evinced by a $32 million financial infusion. More recently, the U.S. Development Finance Corporation amplified its commitment by endorsing a $25 million financing initiative tailored for micro, small, and medium-sized enterprises operating within Northern Ghana.

RelatedPosts

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

In the realm of digital economic evolution, the United States affirms its support with a substantial $300 million injection into African data centers, a gesture encompassing Ghana as well.

Traversing the contours of trade, the two-way trade value between the U.S. and Ghana in 2022 soared to $3.7 billion, with Ghana’s exports to the U.S. ringing in at $2.7 billion. Ghana’s export portfolio boasts crude oil, cocoa derivatives, apparel, rubber, and cassava. Meanwhile, the U.S. plays the role of Ghana’s fourth-largest export market, partaking in the exchange of vehicles, machinery, paper commodities, plastics, medical devices, fertilizers, and agricultural products. The gravity of this engagement is further underscored by Ghana’s position as the third-largest export market for the U.S. within Sub-Saharan Africa, trailing only South Africa and Nigeria.

Regarding foreign direct investment (FDI) inflows, a record sum of over $421 million coursed from the United States to Ghana in 2021, a testament to the latter’s allure as an investment destination. This magnetic pull persisted and even intensified in 2022, as Ghana welcomed a robust $1.5 billion in FDI from diverse sources, heralding its steadfast march as a beacon for foreign investments.

 

Tags: Ghanaian exports to the U.S.Trade Minister K.T. HammondTrade Minister K.T. Hammond talks enhanced trade policies to boost Ghanaian exports to the U.S.
No Result
View All Result

Highlights

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

BoG Raises GHS 15.38 Billion via 56-Day Bills to Reinforce Tight Monetary Policy Stance

Passage of Competition Law Key to Tackling DSTV’s Market Dominance – CUTS International

Why Are Interest Rates Still High? The MPR vs Market Rates Debate

Climate Change Is Making Africa’s Debt Burden Worse – New Debt Contracts Could Help

Trending

Agribusiness

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis

August 4, 2025

Chamber of Agribusiness Calls for Sector-Wide Price Cuts and Urgent Government Support to Curb Food Crisis The...

The Perils of Market Interventionism: When Political Pressures Threatens Ghana’s Economic Gains – The Way Forward

August 4, 2025

GAB Projects Drop in Lending Rates Starting August 6 Following BoG’s 300bps Policy Rate Cut

August 4, 2025

Local Bourse Rallies Strongly as GSE-CI Hits Near 7,000 Mark

August 4, 2025

Treasury Exceeds Auction Target of GHS 3.86 Billion Amid Tightening Yields

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.