THE Minister of Trade and Industry, Madam Hanna Tetteh, has stated that with the improvement in the export of non-traditional products, Ghana could earn GH¢5 billion in 2015.
That, she said, would make it possible for the country to attain a middle-income status with an income per capita of US$1,000, by the year 2020.
The minister made the remarks when she addressed a stakeholders’ forum on the Export Development and Investment Fund (EDIF) in Koforidua over the weekend.
She said considering the small size of Ghana’s domestic market, the export sector provided the best option for optimising production possibilities and a quicker way of integrating the country into the global economy.
Madam Tetteh stated that since the non-traditional sector in that direction would create more wealth, generate employment and improve the welfare of the people, it was therefore, necessary that EDIF would be well-resourced to in turn support that sector.
The minister acknowledged the role EDIF had played in promoting the non-traditional sector since its inception in 2001 in areas such as agro-processing, salt mining, wood processing, handicraft, garments and textile as well as pharmaceuticals and plastics. She called for the right stimuli through adequate, affordable and timely finance for the sector.
“We have set ourselves an ambitious goal of achieving a middle-income status with a qualitative benchmark of US$1,000 per capita by 2020, using export as the main springboard for realising this vision,” the minister stated.
The Minister of Food and Agriculture, Mr Kwesi Ahwoi, expressed regret that although agriculture played a key role in country’s economy, it was still being practised at a subsistence level, with many farmers on small holdings using hoes and machete for land clearing.
He said another worrying aspect of farming in Ghana was the high cost of tractor services for land clearing and non-application of fertiliser, all contributing to low productivity of agricultural produce.
The minister also expressed concern about the inability of some prospective exporters to honour orders due to limited production base, while most of them were not able to meet the required quality standard and had their products rejected, causing embarrassment to the ministry.
Mr Ahwoi said it was due to such challenges that a number of measures such as offering of credit facilities, subsidy for the procurement of inputs and mechanised service, as well as the development of agricultural export, were being taken to support farmers.
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