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Fri. Apr 19th, 2024

GHANA- Recently, U.S. Ambassador to Ghana Robert P. Jackson joined officials from the Ministry of Trade and Industry at a validation workshop on Ghana’s African Growth and Opportunity Act (AGOA) Strategy.

The meeting reportedly brought producers, processors and exporters together with customs and government officials to discuss the implementation of Ghana’s AGOA Strategy, which aims to helps Ghanaian companies take advantage of AGOA, a trade preference provided by the U.S. government to African countries allowing duty-free access to certain goods.

According to a press release from the U.S. Agency for International Development (USAID), Ghana began developing the AGOA Strategy last year, following the renewal of AGOA for a 10-year period (2015 to 2025) by the U.S. Congress. The strategy builds on Ghana’s National Export Strategy, which seeks to double the country’s non-traditional export earnings to $5 billion per year.

In addition, it is stated that the AGOA Strategy aims to enable Ghana to make maximum use of opportunities under AGOA, with an emphasis on intensifying export development and diversification, a key initiative of the Government of Ghana’s 10-point Integrated Industrial Transformation Agenda. It thus identified Ghanaian industries with the greatest potential to benefit from AGOA. Going by details from the press release, these industries include apparel, fisheries, horticulture, tropical fruits, specialty vegetables, root crops, vegetable fats (palm oil and shea butter), cocoa, handicrafts, and jewelry.

USAID reveals her intent to work with the Ghanaian government and private sector to target key barriers to trade and investment and promote regional integration and trade competitiveness. The successful implementation of the strategy will require collaboration between the Ministry of Trade and Industry and its agencies, notably the Ghana Export Promotion Authority, the Free Zones Board and Ghana Standards Authority.

On the other hand, however, collaboration is also required with the Customs Division of the Ghana Revenue Authority under the Ministry of Finance; Food and Drugs Authority; and the Plant Protection and Regulatory Services Directorate of the Ministry of Food and Agriculture. The Ghana Investment Promotion Center will therefore play a key role in attracting foreign direct investment and implementing the strategy.

During the event, Ambassador Jackson noted that the Government of Ghana will put up other policies to help the private sector. Adding that the United States is always willing and opened to assist to achieve this end.

“I sincerely hope that after this validation event, companies will do more to take advantage of AGOA, and that the Government of Ghana will set forth additional policies that will enable the private sector to flourish.

“The United States is ready to work together with you to create an enabling business environment — one that will build upon Ghana’s stable economic and political foundation, and create jobs for citizens of both our countries.”

 

 

 

 

 

 

 

 

 

 

Correspondent: Ridwan A. Olayiwola

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