Ghana to increase non-traditional export earnings from $1.2b to $5b by 2015

The Ministry of Trade and Industry is in the process of formulating a five-year national export strategy, focusing mainly on increasing non-traditional export earnings from $1.2 billion to $5 billion by 2015.

Consequently, investors and businessmen particularly in the Central Region are being urged to produce value added products for exports to enable the Ministry partner them to help meet the expected target for exporting these products.

The Minister for the sector, Ms Hanna Tetteh, said this in a speech read for her at the opening of a one-week trades and investment fair dubbed “Central Expo 2010” at Cape Coast.

The fair, being organized by the Central Region Development Commission (CEDECOM) on the theme “harnessing the region’s potential for job creation,” is to showcase and promote agro-processing and tourism potentials of the region.

More than 150 exhibitors including entrepreneurs, financial, technical and research institutions and the metropolitan, municipal and district assemblies are expected to participate.

Ms Tetteh said the Ministry had received cabinet approval to implement the Private Sector Development Strategy (PSDS II) aimed at developing a thriving private sector that creates jobs and enhances livelihoods for all Ghanaians.

She said the country’s Gross Domestic Product (GPD) growth will receive a boost of a minimum of 10% per annum on the average, under the DSPS II, while per capita income of at least $1.200 will be achieved by 2015 to give Ghana a firm stand as a middle income country.

Ms Tetteh said the region was endowed with many resources in both agriculture and tourism and urged entrepreneurs and businessmen to take advantage and add value to them to help propel its economy forward.

Mrs Benyiwa-Doe said the huge investment opportunities in the region particularly in agro-processing and tourism needed to be maximized to create jobs and wealth for the region.

Mr Spencer Taylor, Acting Executive Director of CEDECOM, said the Region presented an ideal target for investments in citrus, pineapple, oil palm among others and that the primary objective of the fair was to promote the two sectors.

Daasebre Kweebu Ewusi VII, President of the Central Region House of Chiefs who chaired the function, said it was an opportunity to create jobs for the people and make the economy of the area vibrant.

On exhibition are processed food items including gari, powdered shrimps, locally produced rice, while textile products include batik, tie/dye, ladies and gents wear, beds and accessories and artefacts and handicrafts.

Source: GNA

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