By
Belinda Ayamgha, GNA
Accra, Sept. 14, GNA – The Ghana National
Chamber of Commerce and Industry (GNCCI) will lead a delegation to the African
Growth and Opportunities Act (AGOA) Expo and Trade Fair in the United States of
America from September 25 to 30.
The invitation to participate in the AGOA Expo
and Trade Fair, to be held in the cities of New Rochelle and New York, is in
recognition of the GNCCI’s active role through the Ghana AGOA Trade Resource
Centre (ATRC).
A statement from the GNCCI to the Ghana News
Agency on Friday said the delegation would be led by Nana Appiagyei Dankawoso
I, the President of the GNCCI, who would present the business and investment
opportunities in Ghana, under AGOA.
AGOA is a non-reciprocal trade preference
programme that provides duty-free and quota-free treatment for exports of over
6,400 products into the US market from eligible Sub-Saharan African countries,
with the goal of encouraging export-led growth, economic development and
improving U.S economic relations with Africa.
Since its enactment on May 18, 2000 by US
President, George Bush, the Act has gone through many amendments to enable AGOA
beneficiaries to take advantage of it after the initial 15-year validity
period, which was extended to 2025 on June 29, 2015, by President Barack Obama.
The extension covered the Third Country Fabric
Provision. The 10-year renewal period provided an opportunity for eligible
Sub-Saharan African countries including Ghana to increase their exports into
the United States Market, the statement said.
AGOA has provided Sub-Saharan African
countries the opportunity to grow their export earnings. Aggregate exports to
US by AGOA beneficiaries (AGOA plus non-AGOA goods) have increased from 21.7
billion dollars in 2000 reaching its peak at 82.2 billion dollars in 2008.
The following years have recorded declining
exports ending 2017 at 24.9 billion dollars. Major contributing countries to
AGOA include Ghana, South Africa, Nigeria, Angola, La Côte d’Ivoire,
Madagascar, and Kenya.
Major non-oil export products include
agriculture, minerals, metals, textiles and apparel, footwear, and
transportation equipment.
Ghana’s performance under AGOA has been
sustained by its broadly diversified exports to the US in the areas of textiles
and apparel, energy-related products, agricultural products, footwear, and
minerals and metals.
After reaching its peak in 2011 with exports
earnings of 779 million dollars and subsequent decline in 2012 (US292 million
dollars), there has been a renewed confidence resulting in an upward trend in
Ghana’s performance ending 2017 with export earnings of 748 million dollars.
The surge in performance reflects the
collective efforts by government and other stakeholders including the GNCCI, in
strengthening Ghana’s exports.
As part of the efforts to increase the
awareness and build the capacity of exporters and potential exporters, the
Chamber entered into collaboration in 2015 with the USAID West Africa Trade
Hub.
The AGOA Trade Resource Centre (ATRC) was
established at the Chamber to engage the private sector for regional and global
assistance via trade intelligence, export development, business promotion, and
trade facilitation.
A number of sensitisation and capacity
building workshops have been organised in Accra, Kumasi and Takoradi to enable
business men and women utilize AGOA.
Some of the topics treated in these workshops
included US customs and regulations on AGOA, productivity, exports
financing-risk and access to finance, financing export contracts and payment,
packaging and food technology.
The AGOA Expo is a cultural and business
platform aimed at celebrating US-African cooperation, strengthening bilateral
trade relations, promoting AGOA key export products and investment
opportunities.
There would be a number of activities
including African Beverages and Food Show; African Apparel, Textiles and
Footwear Exhibition.
Other activities are AGOA Apparel Fashion
Week, Exhibition of Leather and African Cosmetics, African Music and Urban
Dances, and AGOA Festival Workshops and Networking.
The participants for this event are the United
States and AGOA eligible countries including Ghana.
GNA