Finance Minister, Ken Ofori-Atta, has expressed government’s intent to establish Export Trade Houses to promote made in Ghana product brands.
According to him, the Ghana Export Promotion Authority will enhance its coordination role by facilitating support to key export-sector stakeholders.
Speaking at the 2023 budget presentation, Mr Ofori-Atta indicated that government is committed to ensuring even playing field for businesses to thrive in the country via provision of opportunities.
“Export Trade Houses (ETHs) will be established in selected markets to promote made-in-Ghana products brands, including the completion of the first ETH in Kenya. Additionally, opportunities will be created for local Ghanaian businessmen and investors to invest in export product transformation and value addition at the district level in partnership with the Ministry of Local Government and Rural Development.”
Ken Ofori-Atta
Elaborating on government’s involvement in trade facilitation, Mr Ofori-Atta noted that government through the African Continental Free Trade Agreement (AfCFTA) will pursue strategically, opportunities that ensure that businesses take full advantage of the AfCFTA as part of efforts to pursue an export-led economic recovery.
He stated that the Ministry of Trade and Industry is working with over 200 Ghanaian companies to facilitate their entry into the African market including about 70 1D1F companies.
“Additionally, the AfCFTA Guided Trade Initiative (GTI) has been launched to start commercially meaningful trade. The products identified for the Initiative include batteries, tea, coffee, ceramic tiles, processed meat products, corn starch, sugar, and pasta, amongst others, in line with the AfCFTA focus on value chain development.”
Ken Ofori-Atta
Achievements of government’s flagship programs
Commenting on government’s flagship program, the One-District-One-Factory (1D1F) Initiative, the finance minister explained that the initiative continued to make remarkable progress in 2022. To date, he opined that a total of 296 1D1F projects are at various stages of implementation, out of which 126 are currently operational, 143 are under construction, and 27 are pipeline projects.
“In 2023, Government will intensify support to existing and new manufacturing enterprises with technical assistance, credit facilitation, and access to electricity and other infrastructure.”
Ken Ofori-Atta
Additionally, Mr Ofori-Atta emphasized that in addition to the Automotive Assembly Programme, Government has developed a new Components Manufacturing Policy which seeks to support the local production and supply of components and spare parts for the automotive industry. To achieve this, he revealed that the Ministry of Trade and Industry will launch and commence implementation of the policy in 2023 which is expected to expand job creation.
“The recent global crisis has severely disrupted inorganic fertilizer supply chains. This has resulted in sharp increases in prices making it difficult for farmers to access the commodity and thus threatening food security.”
Ken Ofori-Atta
On the agric front, the finance minister highlighted that the Ministry of Food and Agriculture is intensifying efforts to promote the local production and use of organic fertilizers. Further to this, he underscored that under the subsidy programme, the Ministry has increased the quota for organic fertilizer suppliers to cover the shortfall in supply of inorganic fertilisers.
“Additionally, Government is facilitating the establishment and the expansion of local organic fertilizer production plants with support from the EXIM Bank.”
Ken Ofori-Atta
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