Posted: Friday 30th May 2014 at 15:43 pm

Trade Minister launches programme to increase investment

0a78240x mg gkb4eqp11x mr haruna iddrisu Trade Minister launches programme to increase investment

Mr Haruna Iddrisu



Accra, May 30, GNA-The Advancing Investments and Trade in Africa (AITA) Chapter in Ghana has been launched to help increase sustainable investments and trade in Ghana and across Africa.

It is also to foster increased business collaboration between AITA Ghana and members across the world in learning about business opportunities in Ghana and the African continent.

Launching it Mr Haruna Iddrisu, the Minister of Trade and Industry, in a speech read for him, said the establishment of AITA would provide increased opportunities for Ghanaian entrepreneurs to develop and attract investment by a thriving private sector into Ghana and also increased investments that could lead to creation of jobs and income for Ghanaians.

It would also help facilitate trade on a global level in order to allow increased coordination and cooperation between AITA’s Washington D.C. and Ghana members.

The Minister said the government over the past years had succeeded in laying a solid foundation by implementing policies and programmes that had significantly transformed the economic landscape of and created the necessary enabling environment for the private sector to thrive.

The Government, he said, was also re-positioning the country to pro-actively deliver support to the private sector to encourage job creation, increase income and improve the livelihoods of its citizen.

He said by 2017, the Ministry was required to establish Ghana as a major manufacturing, value-added, financial and commercial hub in West Africa as well as promote and facilitate Ghana’s active participation in global trade by recognizing and encouraging private sector and nonprofit business initiatives such as the current initiative by AITA.

Mr Iddrisu said Trade associations might also invest in human capacity development by providing access to training through workshops and seminars.

Trade associations also provide forums for social dialogue where local businesses can discuss processes for economic growth, expansion, and development.

He said: ‘This type of business collaboration and co-operation through trade associations can allow professionals, small and medium enterprises and big businesses to tap into much needed resources, expand much needed inputs and increase their business competiveness.’

‘By facilitating collaboration between businesses, trade associations invariably achieve economies of scale and thereby contribute to the economic development of their respective communities’.

He said the development of national and regional trade integration and export strategies provided the opportunity for a structured dialogue between the public and private sector around an agreed set of objectives.

Such dialogues also allow for the active engagement of the private sector in implementation and monitoring and evaluation of Aid for Trade.   Work to develop such strategies should be promoted.

‘As a middle-income country, it is critical that we encourage partnerships between the government and the private sector in order to promote shared values and visions for economic development,’ he said.

Mrs Adjoa Linzy, the Founder and Executive Director Advancing Investments and Trade in Africa, said the connection between professionals in Ghana and the Diaspora would break the perception in the minds of people that view the diaspora as important agents of economic and social development.

She expressed her optimism towards AITA members, saying that through AITA, members would be able to develop strategic business partnerships which would enhance their individual professional goals.

Mrs Linzy said AITA also sought to provide educational opportunities through forums, seminars and workshops to Ghanaian professionals.

She said AITA anticipates to broadcast its members the current investment and business opportunities in Africa and added ‘One common comment we receive from non-members and members alike is that there is a lack of flow of information regarding viable business opportunities in Africa’.

GNA

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