Ghana, Ivory Coast can dictate cocoa prices on world market – Minister

Mr Edwin Nii Lante Vanderpuye, Deputy Minister of Trade and Industry on Wednesday urged Filtisac in Cote d’Ivoire to invest in the jute industry in Ghana to help produce sacks locally for the cocoa industry.

He said Ghana’s only jute factory during the first republic had collapsed, which needs to be revived.

He noted that government is looking for private partnership to revamp the jute factory and that Filtisac with more than 50 years’ experience in production is placed in a better position to do so.

Mr Vanderpuye made the call in Abidjan when he paid a visit to Filtisac to familiarise himself with the operations of the company.

He said Ghana and Cote d’Ivoire could dictate cocoa and coffee prices on the world market if they chose to join forces.

He said there is the need for more collaboration among African countries before the Economic Partnership Agreement could be ratified.

Mr Vanderpuye described Filtisac’s success story as a true example of a good divestiture in Africa and lauded the Management for their fortitude and hard work.

He said Ghana has the best telecommunication industry in Africa and other countries could tap from the rich experience.

Mr Ibrahim Charles Amadou, Chief Executive Officer of Filtisac said the Company was established by the Ivorian government during the first republic to produce sacks for the cocoa industry, but was privatised in 1996.

He said for more than 50 years Cote d’Ivoire had not imported a single sack for its cocoa industry.

He said the Company imports its jute raw materials from Bangladesh, and has more than 1,000 staff with a capacity to produce 20 million bags a day, which they hope to upgrade to 25 million.

Mr Traore Kalilou, Cabinet Director of the Ivorian Ministry of African Integration called for collaboration at the national and private sector levels to promote the socio-economic development of the continent.

Mr Gideon Quarcoo, Acting Chief Executive Officer of the Ghana Export Promotion Centre said in order for nations to be able to satisfy globalisation, there is the need for them to join forces for socio-economic development.

Source: GNA