Minister meets US trade delegation

Story: Boahene Asamoah & Naa
Lartiokor Lartey

THE Government is exploring a free trade agreement with the United States government to push trade relations between the two governments to a higher platform.
Speaking at the opening ceremony of a US Trade Mission to Ghana in Accra yesterday, the Minister of Trade, Industry, Private Sector Development and President’s Special Initiatives (PSI), Mr Joe Baidoe-Ansah, underscored a free trade agreement that would serve as a platform to take trade relations to a higher level within the context of the country’s contractual obligations.
The minister acknowledged the fact that trade was a major engine of growth, for poverty reduction and for wealth creation.
A 12-member business delegation, led by the US Assistant Secretary of Commerce and Director General of the US Commercial Service, Mr Israel Hernandez, is in the country to explore business opportunities in Ghana and two other African countries.
The visit follows the recent visit of the US President to Ghana and is seen as a sign of good prospects for the two countries.
The delegation is seeking agents, distributors and partners in areas such as energy, infrastructure, consumer goods and services.
Mr Baidoe-Ansah said economic co-operation between the two countries had been based on the Trade and Investment Framework Agreement (TIFA) and the African Growth and Opportunities Act (AGOA).
“Within these arrangements, there has been a significant expansion in the Ghana-US economic relationship,” he stated.
Mr Baidoe-Ansah stated that the government’s growth agenda focused on two major strategies, namely an export-led growth and a comprehensive domestic market-oriented industrialisation programme.
The minister outlined the macroeconomic and political stability of the country, drawing American investors to the opportunities that exist in the country, such as proximity of the country to US and EU markets and being a gateway to the sub-regional market, and urged them to take advantage of these opportunities.
The United States Ambassador to Ghana, Ms Pamela Bridgewater, recounted the ties between the two countries which date back to the independence period.
She said “these ties have grown even stronger as Ghana increasingly becomes a key commercial and financial gateway to West Africa for US and other foreign companies”.
Ms Bridgewater stated that “a vibrant Ghanaian economy and well-functioning internal and external trade markets can lift Ghana to new heights”.
“On the US side, this gathering signals commercial ties to an important trading partner and gives US firms the opportunity to seek strategic partners in a stable democratic environment,” Ms Bridgewater stated.
Mr Hendandez acknowledged the good macro-economic stability and the steady growth of the economy as some of the conditions that would attract foreign direct investments.
The delegation are from companies including the America Plastic Technology, Crestcom International, Edwards Angell Palmer International, Intertrade, Lockheed Martins, Praxis Med International, SS Medical International, SS Medical Instruments and Technology Solutions for Africa.