Accra, Dec. 12, GNA - Mr Alan Kyeremanten, the Minister of Trade and Industry, has called on investors to take advantage of the continental free trade agreement to invest in the various sectors of the economy.
He said with the African Continental Free Trade Area (AfCFTA) the continent would offer a potential market of over 1.2 billion people, an emerging high middle class and a youthful population, adding that investors would stand to gain from their investments as they have a bigger market to explore.
Mr Kyeremanten said this in a speech read on his behalf by Mr Ntim Donkor, the Director of Domestic Trade at the Ministry of Trade and Industry, at the opening of the 6th International Trade Show on Agriculture, Food, Plastics, Printing and Packaging.
The Minister said government is prioritizing the agro-processing sector as part of efforts to transform the agricultural sector and to develop the country's economy.
Mr Kyeremanten said agro-processing is one of the fastest growing sectors and urged companies to invest, adding that government's flagship programmes such as the One District One Factory, Planting for Food and Jobs are aimed boost the contribution of the sector to the economy.
Madam Olem Gulsun Ergun Ulueren, the Turkish Ambassador to Ghana, said Ghana and Turkey has had a long-standing relationship with Ghana among the top three trade partner countries.
“Turkey is endowed with high quality manufacturing companies and food producers with products such as vegetable oil, meat processing, animal feed, plant and food packaging”, she said.
She said Turkey is the world's 7th largest agricultural producer and accounts for about US$ 70.7 billion in several countries that they partner with.
She lauded government’s flagship programmes such as the One District One Factory and urged government to continue in its efforts to boost the agricultural sector.
Ms Dorothee Dinkelaker, the Head of Corporation at the German Embassy, said that agriculture is the focal point of co-operation between Ghana and Germany for many years.
Agro-processing, she said, is an important area with a major potential for economic growth, adding that agriculture production offers a huge opportunity for job creation along the value chain.
She said Germany has the technology and expertise to enhance agricultural development in Ghana.
Mr Paul Marz, Managing Director at Fairtrade, organizers of the event, said the show is relevant due to West Africa's growing market for agricultural technology, food and beverage technology imports and food trade.
He said West African imports of Agricultural Machinery reached EUR187 million in 2016. Food and Beverage Technology had an annual growth rate of 7.8 per cent between 2015 and 2018.
Food Trade Imports according to the World Trade Organization (WTO) in 2017 reached USD 16.19 billion while exports reached US$14.38 billion.
Plastics Technology also grew to 22 per cent in 2019 with Ghana, Ivory Coast, Guinea, Senegal, Togo and Mali as major importers.
Dr Michael Blank from the Delegation of German Industry and Commerce (AHK Ghana), co-organizers of the event said that the trade show was good for countries such as Ghana especially as government plans to establish itself as a trade hub.
He said that Ghana's stability would help to catch the attention of the needed investors.
The trade show saw the mounting of 17 country pavilions from China, Ghana, Flanders/Belgium, Germany, Morocco, the Netherlands, Sri Lanka and Turkey among others.
GNA
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