Ghana is strategically instituting measures to increase exports to the United States (US) under the Africa Growth and Opportunities Act (AGOA) to $500 million by 2020, the country’s President Nana Akufo-Addo has disclosed.
Akufo-Addo said this at the second National Policy Summit in Accra on Monday, August 14, where he explained that the country is taking both short and long-term measures to achieve the target.
“Ghana’s total net-exports under AGOA for 2016 was $12 million and we aim to increase our export volumes under AGOA to $500million in 2020,” he added.
Although AGOA was signed into law some 17 years ago, and extended two years by decade, President Akufo-Addo noted that: “Ghana has not extensively exploited this opportunity and accordingly not realized any significant gain.”
In view of this, he indicated that government is working to ensure measures are implemented for businesses to take full advantage of the US market through the AGOA initiative.
He added that the country is in the process of finalizing a new AGOA Export Strategy and Export Plant, to boost non-traditional exports.
He further explained that, when fully exploited, the initiative will boost economic growth and create dozens of jobs for his country men and women.
Ghana’s main non-traditional exports to the USA include art works, processes and semi-processed cocoa products, cashew nuts, fresh fruits, and vegetables, among many agriculture produce.