Ghana, China trade said to be $3.8b in first eight months of 2016
In the first eight months of 2016, trade between Ghana and China amounted to $3.8 billion with China exporting goods worth $3 billion while Ghana exported products worth $800 million.
Meanwhile, the Chinese Embassy has provided logistic support to the Ghana Export Promotion Authority (GEPA) to enhance its performance and ensure efficient delivery of services.
The equipment includes computers and accessories, air conditioners as well as a photocopier.
Speaking at the ceremony, Mr James Z. Tiigah, the Chief Executive Officer of GEPA, said the Authority would continue to strengthen its relations with the Embassy in efforts to boost the export of non-traditional products to the Chinese market.
He said Ghana was working to ensure that Chinese consumers have access to products from Ghana.
Mr Tiigah said although GEPA lacked the resources to effectively carry out its activities, the commitment of staff had ensured that meaningful contributions had been made to the economy over the years.
He said GEPA in 2015 raked in $2.5 billion in non- traditional exports (NTEs) revenue, a feat he described as no mean achievement, considering the mounting resource challenges.
He said the Authority had decided not to look to government alone but to other institutions that could help facilitate its work, especially in the implementation of the National Export Strategy.
Mr Tiigah said to enhance GEPA’s work, the Authority was increasing the number of its zonal offices to 10 from the current level of five in line with the vision to zone up products into clusters.
Mr Tiigah noted that the Authority was currently implementing the National Export Strategy with focus on 11 products, majority of which were in the agriculture sector, to boost export revenues and enhance the contribution of the non-traditional export sector to the development of the economy.
He said GEPA had embarked on a baseline study to know where the producers were and working on traceability of the supply chain as well as developing a market portal to make all trade information available.
Mr Chai Zhijing, Counsellor, of the Economic and Commercial Counsellor’s Office Embassy of China, who presented the equipment said it was a token of friendship and support.
He said Ghana and China have very important bilateral trade though the trade balance was in favour of China, noting that in the first eight months of 2016, trade between the two countries amounted to $3.8 billion with China exporting goods worth $3 billion while Ghana exported products worth $800 million.
Mr Chai said the huge balance imposed on GEPA a big task to help expand exports of NTEs, especially products from the agriculture sector.
He urged the Authority to utilise the many platforms such as trade fairs to be able to understand the preferences and taste of the Chinese consumer.
Source: GNA