Ghana-US trade hits $1.3b in 2010

Two-way trade between Ghana and the United States has grown 48% in 2010 reaching nearly $1.3 billion, the Deputy US Trade Representative, Demetrios Marantis told journalists in Accra Tuesday February 22, 2011.

He said in a speech that the US selected Ghana as one of the countries for the President’s new Partnerships for Growth (PFG) initiative this year as a result of the country’s strong democracy and economic prosperity. The PFG is the signature effort of the Obama Administration to promote broad-based economic growth through trade and investment.

However he said, “one key success that can help support and implement the PFG is the United States-Ghana Trade and Investment Framework Agreement (TIFA),” adding, “the TIFA is our foremost bilateral economic dialogue and brings together governments’ top trade and economic agencies.”

“The TIFA focuses on trade and investment policies that help both our economies grow, diversify, and create well-paying jobs. And the TIFA is designed to help build on Ghana’s successes and leadership to achieve new ‘firsts’ in its economic development,” he said.

By Emmanuel K. Dogbevi