By Kizito CUDJOE
The Minister of Trade, Agribusiness, and Industry, Elizabeth Ofosu-Adjare, has called on the newly formed management committee of the Ghana Export Promotion Authority (GEPA) to utilize its combined knowledge to promote substantial development in the nation's export industry.
At the inauguration of the board in Accra, the minister highlighted the essential role of exports in maintaining economic stability, earning foreign currency, and providing employment opportunities.
"The ministry's responsibility is clear; we need to increase our exports. When we achieve this, our foreign currency situation strengthens and more job opportunities are created," she stated.
Mrs. Ofosu-Adjare emphasized the need to create more products within the country to minimize reliance on imports and to increase the nation's presence in global markets.
"Enhancing exports also shows that we are manufacturing more for domestic replacement. We are not treating the export initiative casually, and I am confident this board can achieve results," she added.
She urged the board to cooperate with stakeholders throughout the value chain, including small and medium-sized enterprises (SMEs), in order to boost the competitiveness of Ghana's non-traditional exports.
GEPA is crucial in executing Ghana's National Export Development Strategy (NEDS), designed to boost non-traditional export revenues to $25.3 billion by 2029.
She emphasized the 13-member board's varied structure, featuring involvement from major organizations such as the Bank of Ghana (BoG), Association of Ghana Industries (AGI), and the Ministry of Foreign Affairs, along with other entities.
She stated that this is to guarantee smooth business operations.
The minister also praised the BoG for increasing the period for repatriating export earnings from 60 to 120 days, stating: “As the BoG has a representative on this board, we anticipate more efficient cooperation and timely handling of regulatory issues,” she concluded.
As stated by the minister, President John Dramani Mahama has also established an advisory panel for exports, which he personally leads, indicating a strong political dedication to reforming the sector.
This highlights the president's desire to elevate Ghana's export strategy," she stated. "All the necessary people to boost exports are present on this board.
She urged the board to produce concrete outcomes within a year, saying, "We anticipate your leadership to be evident in higher export quantities and enhanced export worth."
The chairperson of the GEPA Board and member of parliament for Wa East, Dr. Godfred Seidu Jasaw, pledged to the minister that the board is dedicated to carrying out its responsibilities.
He stated, 'We will thoughtfully channel and energize the resources within GEPA to bring about the necessary trade transformation.'
Dr. Jasaw also emphasized the connection between the board's responsibilities and the government's 24-hour economy strategy, pointing out the recent inclusion of agribusiness within the Trade Ministry's area of focus as a positive move.
"Our attention will not solely concentrate on higher trade volumes, but also on the value of trade, to guarantee that the growing export sector results in substantial foreign currency earnings for the nation," he stated.
The board, consisting of 13 members, features Mr. Seth Twum-Akwaboah, Mr. Peter Nuhu, Mr. Mark Badu-Aboagye, Mr. Yussif Issaka Jajah, Dr. Philip Abradu-Otoo, Mr. Simon Madjie, Dr. Mrs. Jessica Aku Nkansah, Mr. Francis Kojo Kwarteng Arthur, Mr. Abu Osuman, and Mrs. Joyce Boatemaa Akuamoah.
Provided by SyndiGate Media Inc. (Syndigate.info).