The Ghana Export Promotion Authority (GEPA) has announced that this year’s National Awards for Export Achievement will be held on Friday, October 17.

The annual awards scheme was instituted in 1989 to steer the growth of the non-traditional export sector and also to cushion the country’s primary and unprocessed traditional export earnings in a bid to bridge trade balance deficit.

Mr. Gideon Boye Quarcoo, Chief Executive Officer of Ghana Export Promotion Authority, who disclosed this to journalists in Accra, said the award seeks to recognise the contribution of exporters as a way of sustaining interest and encourage high performance among industry players to promote economic development.

“We are aware of the immense role foreign exchange plays in the country’s economic development and the fact that many of the actors in the non-traditional exports sector are small-sized enterprises from the private sector, and we hope award will boost their confidence and credentials to expand their activities.

“Over the years, the awards scheme has become a key driver to improve exports earnings as well as promoted the quality and quantity, and we hope this will improve the economy and strengthen the cedi against the major trading currencies,” he said.

More than one thousand companies and facilitating institutions had received recognition since its institution and companies use the award as an effective marketing tool to gain credibility globally for more export orders and to access finance.

The awards categories include the ‘Exporter of the Year’, which will be conferred on the company with the highest export earnings, and ‘Woman Exporter of the Year’ to be conferred on the female exporter with export proceeds exceeding $500,000 and has repatriated in cash or in kind at least 75 per cent of exported amount.

Commenting on the selection criteria, Mr. Quarcoo said award finalists will be exporters with a minimum export earnings of US$250,000 as captured on the Ghana Export Form.

The potential winners must also have data on repatriation of export earnings provided by exporters bankers in cash and or evidence by exporter in kind,while companies in product group shortlisted would be based on a minimum export value equivalent to 30 per cent of the highest performer’s value in that group.

Mr Ibrahim Murtala Muhammed, Deputy Minister of Trade and Industry commended the GEPA for sustaining the event over the years and pledged government’s support towards the promotion and achievement of excellence in the import and export trade sector.