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Ghana: Trade Ministry to fully implement National Export StrategyMonday, November 24, 2014 > 09:23:05
(All Ghana News)
The Ministry OF Trade and Industry will in 2015 commence full implementation of the National Export strategy towards the realization of the $3.70 billion target from Non-traditional exports.
The pre-inspection conformity assessment programme announced by the Ghana Standards Authority would be put on hold pending further consultations with stakeholders.
Mr Seth Terkper, Minister of Finance, made this known when he presented the 2015 budget to Parliament on Wednesday.
He said the Export Development and Agricultural Investment Fund (EDAIF) Act has been reviewed to increase its resource envelop to support manufacturing, particularly agro-processing and start-ups.
He said an amount of GH₵154.7 million was approved to support fifty-five projects, of which GH₵69.5 million was allocated to eighteen companies under the Export Credit and Projects Facility for manufacturing of export products.
The products included pharmaceuticals, wood processing, food processing, domestic plastic wares, alcoholic beverages and pineapples.
“A total of GH₵32.8 million was approved under the Agriculture, Agro-Processing Development and Credit Facility for fifteen companies to boost the production and processing of various agriculture products, he added.
He said the approval was meant for both local and export markets, and the remaining GH₵52.3 million was approved for twenty-two projects of Metropolitan, Municipal and District Assemblies, trade associations and farmer based organizations under the Export Development and Promotion Facility.
Mr Terkper said next year, EDAIF would establish its presence in all the 10 regions to ensure that it supports businesses in all parts of the country.
He said the Trade Ministry in collaboration with the Ghana Export Promotion Authority (GEPA) and other trade-related institutions has carried out the inception phase activities including, sensitization of focal persons of the implementing agencies and establishment of Project Management and Coordinating Unit (PCMU).
The rest are preparation of work-plans, and a monitoring and evaluation matrix towards full implementation of the National Export Strategy.