Business News of Thursday, 12 July 2012

Source: abs news,usa.

Ghana/New York Expo to Boost US,Ghana Trade

Mount Vernon, New York- Ghana will be the center of attraction at this year's biggest event in the city of Mt.Vernon,Arts on 3rd.Westchester County's premier Arts and Cultural Festival,slated for September 14-18, 2012.

The city has given a special concession to Ghana's small and medium scale enterprises to exhibit their products and wares as well as networking with their US counterparts.The Festival which attracts several thousands of people is expected to play host to about 300 Ghanaian exhibitors,who will take advantage of this all time investment and business opportunity to help boost Ghana's economy through the private sector.The city's mayor,Ernest Davis who disclosed this in an interview with this reporter, said '' Mount Vernon which is ''a city that believes" selected Ghana because of the strides it has chalked globally interms of peace,stability and democracy.My city believes in what Ghana has achieved so far and would support its small businesses to be able to partner with like businesses here in the city of Mt. Vernon ,the State of New York and even this United States of America.This will help boost trade ties between the two countries".

Africa has been the focus of the international community particularly the United States as the US president put it.''As we look toward the future,it is clear that Africa is more important than ever to the security and prosperity of the international community and to the United States in particular," Mr Obama believes in Africa as a region of growing opportunity and promise for Africa,America and for the people and economies.The city of Mt Vernon's motivation is as a result of this growing confidence that the US has in Africa.

The United States ,according to the US State Department is among Ghana's principal trading partners,with a two-way trade between the two countries rapidly increasing and reaching nearly $ 2 billion in 2011.A number of major US companies operate in Ghana.This is due to political stability,overall sound economic management,low crime rate,competitive wages and an educated-English speaking workforce.This enhances Ghana's potential as a West African hub for American businesses. Ghana's major oil discovery reserves in deep water of the Gulf of Guinea has led numerous international petroleium exploration firms to enter the Ghanaian market and many other firms involved in oil and gas auxilary in the United States have expressed interest in starting operations in Ghana.

The four day Ghana/New York trade expo which is a high point of the Arts on 3rd Festival according to the organizers,Malaika Media Network,will help the participating businesses do a proper business network and take every available opportunity to grow their businesses. President of Malaika Media Network,Kojo Ampah Sahara indicated that, everything is in place and the city of Mt.Vernon is ever ready to welcome the about 300 businesses from Ghana into its fold. He was thankful to the city and its mayor for the vision and urged other cities and states in the US follow the lead of Mayor Davis and his city to help make Africa self sufficient.''If you give a man a fish, you feed him for a day,but if you teach him how to fish,you feed him for life".Mr Ampah Sahara said.

He intimated that even though aid to Africa is not a bad idea,it will be prudent for the United States to empower the private sector of Africa so that the ordinary people will benefit directly by gaining employment which will help better their lives.He hinted that Malaika Media Network is feverishly preparing the grounds for the biggest sub-saharan Africa trade expo,this he said will bring the a lot of African businesses into the United States to showcase what they have and what they can do. The Malaika Media Network boss pleaded with the US lawmakers to disppassionately vote in favor of the Third- Country Fabric provision of the African Growth and Opportunities Act(AGOA) which is due to expire in September 2012,but due for committee vote next week.''I hear senator Robert Menenedez of New Jersey is seeking for an amendedment to this bill,but I want both houses to know that this bill which enjoys bipartisan support in both houses is very important to Africa and its derailment will be very catastrophic to the continent. As I speak this situation is causing uneasy calm among some African economies which is very disturbing and I hope the US lawmakers will do what will help Africa".Ampah Sahara said

Source: ABS NEWS,USA.

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