The American Ambassador to Ghana Mr. Robert Jackson has disclosed that the United States government is seeking to double its annual trade volumes with Ghana from 1.2 billion dollars a year to 2.4 billion dollars.
According to him, the United States will achieve the figure by increasing US investors in Ghana, while it encourages exports from Ghana to America.
Speaking to Citi Business News in an interview, Mr. Robert Jackson stated that the American Embassy has already started collaborations with the Ministry of Trade and Industry to enhance a strategy of attracting American investors into the country.
“The United States is working at doubling the value of trade between Ghana and America annually in the next three years and also improve exports from Ghana to America,” he said.
He stated that there are many investment opportunities in Ghana which if properly packaged, will attract American multinational companies to invest in Ghana.
“Since January this year, we have seen six major American companies moving into the Ghanaian economy to invest in this country. There is an increase American investor confidence in the Ghanaian economy,” he said.
He was however of the view that the government must enhance its strategy when it comes to exporting into the USA since standards are a major determinant in allowing goods to enter the American economy.
“The challenge is to increase Ghanaian export to the United States and we are changing our strategy working closely with Ghanaian Ministry of Trade and Industry to really focus on a key value chains,” he said.
He cited for example that, Ghana could focus on key value products such as cashew, textiles, and sheabutter to increase the value of trade.
“We think that instead of concentrating on over 6,000 products eligible for duty free access, we need to concentrate on a few where we can add value and ensure expectations of the American markets,” he said.
Mr. Jackson argued that, focusing on some a few products that are in high demand in America will not only make the country the preferred destination for such products but will also help add value to earn more foreign income.
By: Lawrence Segbefia/citibusinessnews.com/Ghana