Home » Ghana’s Golden Opportunity to Lead Africa’s Trade Transformation

Ghana’s Golden Opportunity to Lead Africa’s Trade Transformation

How Ghana can become a hub for trade and investment in Africa

by Motoni Olodun

Ghana is well-positioned to take advantage of the changing global supply chains and the opportunities offered by the African Continental Free Trade Area (AfCFTA), according to a leading expert on international trade.

Marco Forgione, the Director General of the Institute of Export & International Trade (IOE&IT), a UK-based professional body that supports and trains exporters and importers, said Ghana has a unique combination of geographical, political and economic factors that make it an ideal hub for trade and investment in Africa.

He made these remarks in an interview with journalists in Accra during a visit to the country, where he met with various stakeholders to explore ways of enhancing trade and export capacity in Ghana.

Forgione said the COVID-19 pandemic has exposed the fragility and vulnerability of global supply chains, especially those that rely on long and complex routes such as the Suez Canal and the Panama Canal. He said this has created an opportunity for Africa to develop its regional value chains and to diversify its trading partners.

He said Ghana, as the host of the AfCFTA Secretariat and a stable democracy with a vibrant entrepreneurial culture, can play a leading role in this process. He said Ghana can leverage its strategic location on the West Coast of Africa, which gives it direct access to key markets in South America, North America, Europe, and Asia.

“Ghana is uniquely positioned not because of the geography of a stable environment but the aspiration and entrepreneurship that exists in Ghana. So, the Institute of Exports is here to help turn what is potential into reality within the context of AfCFTA and Ghana can become the spark that ignites what the African continent can achieve,” he said.

He said the IOE&IT is working to collaborate with partners in Ghana to provide training, consultancy, and support to businesses and individuals who want to trade effectively, sustainably, and competitively. He said the IOE&IT has a wealth of experience and expertise in helping businesses navigate the challenges and opportunities of international trade, such as customs procedures, trade agreements, market research, digitalization, and e-commerce.

He said the IOE&IT is also keen to share best practices and learn from the experiences of Ghanaian traders, especially in the areas of agribusiness, renewable energy, digital services, and creative industries.

He said the IOE&IT is committed to supporting the vision of the AfCFTA, which aims to create a single market of 1.3 billion people with a combined GDP of $3.4 trillion. He said the AfCFTA has the potential to boost intra-African trade, industrialization, economic diversification, and job creation.

He said the IOE&IT is also supportive of the Global Gateway initiative, a new strategy by the UK government to boost its trade and investment ties with emerging markets, especially in Africa. He said the UK and Ghana have a long-standing and mutually beneficial relationship that can be further enhanced by the AfCFTA and the Global Gateway.

He said the IOE&IT is optimistic about the future of trade and development in Africa and believes that Ghana can be a catalyst for positive change and growth.

“Ghana has a golden opportunity to lead the transformation of trade in Africa and to benefit from the new trade corridors that are emerging in the post-Covid world. The IOE&IT is here to help Ghana realize its full potential and to make trade work for everyone,” he said.

Source: GhanaWeb

You may also like

Leave a Comment

white logo with motto small

The Ghana Sentinel is an embodiment of Ghana’s spirit, providing unerring insight into our politics, society, and business.

Editors' Picks

Latest Stories

© 2024 The Ghana Sentinel. All Rights Reserved.

Social Media Auto Publish Powered By : XYZScripts.com