The United States Trade Representative, Ron Kirk, has noted that Ghana?s two-way trade with the United States increased by 56 percent last year over the 2010 figure.
He said the United States sees Ghana as its gateway to West Africa, but admitted that though trade with the US increased by 56 percent in 2011, US$2billion in trade is rather insignificant and there is need to improve the volume of trade.
He said that the country represents one of the four partners for growth with the US in the world, and noted that Ghana has been identified for future initiatives in the AGOA pact.
?I am excited to be in Ghana this week to witness first-hand the growing trade and investment opportunities available here. One of the most promising partnerships with Ghana is the USAID-funded West Africa Trade Hub in Accra, which strengthens US-Ghanaian trade ties and provides job and development opportunities in West Africa.
?This is part of the US Administration?s commitment to working with African countries to build positive, mutually beneficial economic partnerships.?
He made these comments when he addressed a selected group of journalists during a routine visit to the West Africa Trade Hub, a USAID-funded entity that helps export-ready West African companies compete in international markets.
Mr. Ron Kirk recalled a 10th annual forum on AGOA held recently in Zambia, where the President Barack Obama announced his new Presidential initiative on the increasing trade with the continent called the African Competitiveness and Trade Enhancement initiative; he committed US$120million to enhance trade capacity which is centred on four key principles.
The principles are: enhancing and working with democratic institutions; fostering economic growth; increasing trade and investment; and increasing the US private sector?s engagement in Africa.
Mr. Kirk noted that one of the constraints to Africa increasing its competitiveness in global export trade mainly deals with capacity: however, the USAID Trade Hubs serve as effective tools to work with governments, businesses and farmers as to how to export their products.
Ron Kirk?s visit to the country is part of the overall effort of the US administration to take the trade and investment relationship with Africa to another level.
Ron Kirk also underscored the importance of regional and international trade to the economic growth of West Africa, and praised the recently elected Borderless Alliance executive Committee for its role in advocating for the free movement of people, goods and services throughout the region.
Formally launched in 2011, the Borderless Alliance — headed by an executive Committee recently elected at the organisation?s first annual conference in Abidjan in May — seeks to remove regional trade barriers to improve West Africa?s competitiveness
According to data collected by the trade Hub in collaboration with ECOWAS and West African Economic and Monetary Unit (UNEMOA), Ghana has the second-lowest level of illicit payments at road checkpoints — about 2.5 cedis per 100 kilometres.
However, transit trucks carrying goods to Ouagadougou and beyond are stopped no less than 18 times between Tema Port and the Paga border crossing with Burkina Faso.
By Konrad Kodjo Djaisi View the original article here
