The Trade Ministry and Ghana Export Promotion Authority (GEPA) have formally inaugurated sector committees composed of stakeholder groups of all product categories, to oversee attainment of the US$25.3billion revenue target stipulated in the National Export Development Strategy (NEDS) by 2029.
The committees are expected to assist the NEDS secretariat facilitate effective implementation of the development strategy to promote Ghana’s value-added products for export.
Key among the sectors are non-agro products, trade and investment facilitation, agro-products, technology and innovation, services export, transport and logistics, creative and industrial arts, local government, infrastructure, utilities and finance.
Deputy Minister of Trade, Herbert Krapah, at the inauguration ceremony in Accra said the NEDS committee’s main role is to consider and streamline project implementation technical issues; make recommendation to the Inter-Ministerial Oversight Committee; coordinate critical inputs from institutional providers, and conduct advocacy as deemed fit.
He said government, through the ministry, is committed to promoting the country’s export trade through GEPA to attain the set revenue target by 2029, adding: “Inauguration of the committees is timely to deepen trade and promote the various NTE products for the 17 priority product areas.
“Government is making all these efforts to use the AfCFTA as a springboard to achieve the target by 2029 while ensuring intense collaboration between the private sector and government,” he said.
GEPA’s Deputy CEO-Operations and Finance, Samuel Dentu, who spoke on behalf of the CEO, Dr. Afua Asabea Asare, said the NEDS plays a critical role in growing the country’s exports to the envisaged progress in future.
Thus, he said, it has become imperative for stakeholders to contribute in increasing the NEDS from a current US$3billion to the over-US$25billion target.
He said the quality of nominations on the various committees inspire confidence that the NEDS is not for the ministry and GEPA alone, but an overall national strategy to grow export trade revenues.
With an estimated 1.2 billion potential customers within the AfCFTA and an about-50 percent increase in revenue, the NEDS seek to make the best out of intra-Africa trade opportunities by 2030.
Ghana will need to rake in about US$600million each year to realise the target by 2029, with the US$25.3billion for the 10-year structural transformation embedded in the NEDS.
GEPA and the ministry are optimistic that the over-400 different NTE products available to the country can push the agenda to meet its target.
