Ghana to Implement AGOA Strategy to Enhance Export Revenues

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Ghana is set to implement its African Growth and Opportunity (AGOA) Strategy developed in 2016 that builds on Ghana’s National Export Strategy which seeks to double the West African nation’s non-traditional export earnings to $5 billion annually.

A validation workshop on the Strategy’s implementation bringing together producers, processors and exporters with customs and government officials was held in Accra, Ghana. It was attended by U.S. Ambassador to Ghana Robert P. Jackson and Ministry of Trade and Industry officials.

Ghana’s AGOA Strategy aims to enable Ghana make maximum use of opportunities under AGOA focusing on intensifying export development and diversification, a key initiative of the Government of Ghana’s 10-point Integrated Industrial Transformation Agenda.

It identifies apparel, fisheries, horticulture, tropical fruits, specialty vegetables, root crops, vegetable fats including palm oil and shea butter, cocoa, handicrafts and jewelry as the Ghanaian industries with the greatest potential to benefit from AGOA.

Ambassador Jackson expressed hope that Ghanaian companies will now do more to take advantage of AGOA, and that the Government of Ghana will introduce 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,” he added.

Collaboration between the Ministry of Trade and Industry and its agencies, the Ghana Export Promotion Authority, the Free Zones Board and Ghana Standards Authority is required for successful implementation of the strategy as well as between 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 Centre will play a key role in attracting foreign direct investment and implementing the strategy.

AGOA is a United States Trade Act that enhances market access to the United States for qualifying sub-Saharan African (SSA) countries. The trade preference which allows duty-free access to certain goods was signed into law by former U.S. President Barack Obama in 2015.

Lome, Togo will host the 2017 AGOA Forum from 8th to 10th August which will bring together senior government officials from the United States and 38 African countries to discuss ways to boost economic cooperation and trade between them.

 

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