Business News of Monday, 15 April 2002

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Ghana failed to secure a place

Ghana has failed to secure a place among the leading exporters on the continent, a World Trade Organisation (WTO) annual report for the year 2000, has indicated.

The report puts South Africa at the top of a list of 15 African countries, including Nigeria, Kenya, Angola and the Sudan, which earned the continent a total of 144.7 billion dollars, during the year under review. Ghana’s name, however, appeared on the list of importers placing 11th with her import bill of 3.1 billion dollars.

Acting Director, Multilateral Division of the Ministry of Trade and Industry (MOTI), Mr Kofi Larbi, made this known at a meeting of the ‘Inter-Institutional Committee’ (IIC) on multilateral trade issues, which opened at Elmina last Thursday.

The committee’s membership comprises representatives of institutions like the Customs, Excise and Preventive Service (CEPS), Ghana Standards Board (GSB), Ghana Export Promotions Council (GEPC), Private Enterprises Foundation (PEF) and the Ministry of Food and Agriculture.

The two-day meeting is to discuss ways of identifying issues that are of interest to the nation and how best it could meet her obligations within the WTO, the ACP/EU Cotonou Partnership and ECOWAS.

Mr. Larbi expressed regret that the nation’s exports were mainly targeted at the European markets and said it was imperative for her to diversify her export destinations to make the needed impact.