February 21, 2020
Boost for the Export Sector
On Wednesday the 19th of February 2020, at the Ministry of Trade and Industry, the official signing ceremony of the Economic Partnership Agreement under the GHANA – EU COMPETE GHANA PROGRAMME was held. The Agreement comprises four (4) projects at the tune of 4 million euros, which is to support Ghana’s competitiveness and implementation of the Agreement.
Representing the Ministry and the Government of Ghana was the Minister for Trade and Industry, Hon. Alan Kyerematen. Other senior officials present to witness the signing were the Deputy Minister for Trade – Hon. Carlos Ahenkorah, the CEO of the Ghana Export promotion Authority (GEPA) Dr. Afua Asabea Asare and Mr. Yofi Grant of the Ghana Investment Promotion Centre (GIPC).
Mr. Kyerematen in his opening remarks acknowledged the continuous support of the EU to the Government of Ghana. He stated
“I wish to express our appreciation for the continued support received over the years from the European Union, and towards stimulating inclusive growth and sustainable development. We hope this relationship will continue well into the future”.
He noted that, the coming into force of the interim Economic Partnership Agreement (EPA), and full implementation expected to commence soon with the finalization of the Market Access Offer, Ghana expects to have access to EU markets with a more diversified portfolio of products. He also mentioned that as a country, we want to move beyond export of agricultural products and oil. “We are implementing a comprehensive programme of Industrial Transformation anchored on Ten Point Plan. This programme seeks to make Ghana the manufacturing hub of Africa” he stated.
The European Union, represented by the Head of the Delegation to Ghana, Mrs. Diana Acconcia, stated the grants will allow the Government of Ghana to manage the implementation of the interim Economic Partnership Agreement (iEPA) between the EU and Ghana and its accompanying measures: a grant of 800,000 Euros to the Ministry combined with a Technical Assistance of 2.9 million euros.
She added that, the support to the Ministry is complimented by two grants for value chain development. The GIPC will be supported with 147,000 euros while GEPA will be supported with 221,000 euros.
These grants according to the EU are aimed at improving Ghana’s competitiveness and to increase and diversify its exports not only to the EU but also West Africa, the African Continent and the rest of the world.