Presentation on theme: "PRESENTATION BY HON.DR.EKWOW SPIO-GARBRAH, MINISTER OF TRADE & INDUSTRY ON GHANA’S TRADE & INVESTMENT OPPORTUNITIES IN LONDON, UK ON 23 RD OCTOBER 2014."— Presentation transcript:
PRESENTATION BY HON.DR.EKWOW SPIO-GARBRAH, MINISTER OF TRADE & INDUSTRY ON GHANA’S TRADE & INVESTMENT OPPORTUNITIES IN LONDON, UK ON 23 RD OCTOBER 2014 THURSDAY, 22 ND OCTOBER 2014
CONTENTS 1. INTRODUCTION 2. GHANA-UK MERCHANDISE TRADE 3. PROMOTING STRUCTURAL TRANSFORMATION OF GHANA’S ECONOMY 4. CURRENT MOTI PROGRAMMES AND STRATEGIES 5. ATTRACTIVE BUSINESS ENVIRONMENT 6. INVESTMENT OPPORTUNITIES
INTRODUCTION PROMOTING GHANA-U.K BILATERAL TRADE AND INVESTMENT RELATION 3
GHANA-UK MERCHANDISE TRADE 4 GHANA - UK MERCHANDISE TRADE ( ) YR EXPORT (£m) IMPORT (£m) TOTAL (£m) TRAD BAL (£m) (62.60) (69.90) (128.20) (84.90) (306.40) Source: HR Revenue and Customs
GHANA-UK MERCHANDISE TRADE (Cont’d) TOTAL TRADE Steady growth in total merchandise trade between Ghana and UK, from £468 million in 2008 to £746 million in 2012, an increase of almost 60%. EXPORTS Ghana’s Exports to UK increased marginally from £203 million in 2008 to £170 million in MAIN EXPORT ITEMS: Cocoa Beans, Cocoa Butter, and other cocoa products, Veneer Sheets, Pineapples, Yams, Furniture, Canned Tuna, Fruit Juices, Palm Oil, Pawpaw, Natural Rubber, Handicrafts, etc. IMPORTS Ghana’s Imports from UK doubled from £266 million in 2008 to £580 million in 2013 MAIN IMPORT ITEMS: Capital and Intermediate Goods, Motor Vehicle and parts, Stationery, Pharmaceutical Products, Telecommunication Products, Food Items, Household Goods, Chemicals, Electrical Goods, Clothing And Other General Goods. TRADE BALANCE Ghana imports far more goods from UK than it export, giving rise to increasing negative trade balance (deficit), £306m in
PROMOTING STRUCTURAL TRANSFORMATION OF GHANA’S ECONOMY 6
CURRENT MOTI PROGRAMMES AND STRATEGIES 7 INDUSTRIAL POLICY AND INDUSTRIAL SECTOR SUPPORT PROGRAMME To ensure improved level of competitiveness of manufacturing Sector and quality of products. To enhance increase production capacity and actual output. PRIVATE SECTOR DEVELOPMENT PROGRAMME Seeks to deepen and improve the business environment to promote the growth and development of private sector businesses NATIONAL EXPORT DEVELOPMENT PROGRAMME AND STRATEGY Improving the potential of the Non-Traditional Export Sector with the set target to increase NTEs from US$2.4 billion in 2012 to US$5.0 billion by Based on District Level Approach with each district developing and exporting at least one product in which it has comparative advantage. Major product areas are: Cashew, Shea, Textiles, Jewellery and Groundnuts, Fish, Horticultural Products, Handicraft, Cocoa Products, Yam and Services.
CURRENT MOTI PROGRAMMES AND STRATEGIES (cont’d) 8 PROMOTING DOMESTIC PRODUCTION CAPACITY Rice, Sugar, Poultry SMALL SCALE DISTRICT INDUSTRIALISATIO N INITIATIVE Aimed at promoting Industrialisation at the District level by working in close collaboration with District Assemblies. RURAL ENTERPRISES DEVELOPMENT PROGRAMME Targeted at the “Entrepreneurial Poor” with the rural communities Improving the livelihood and incomes of rural poor micro and small scale “Entrepreneurial Poor” with the rural communities. Improving the livelihood and incomes of rural poor micro and small scale enterprises to create wealth and generate employment. Implemented through NBSSI, Ghana Regional Appropriate Technology Industrial Services (GRATIS) Foundation), District Assemblies. Provisional of Business Developing Services and Technology Transfer to rural entrepreneurs.
SOURCES OF FUNDING 9 ANGEL INVESTORS NETWORK VENTURE CAPITAL FUND EXPORT DEVELOPMENT & AGRICULTURAL INVESTMENT FUND 27 COMMERCIAL BANKS SPECIALISED FINANCE, MORTGAGES, LEASING, INSURANCE, GUARENTEE EXPORT FINANCE, ETC INTERNATIONAL-WORLD BANK/IFC, AfDB, ECOWAS BANK BILATERAL AGENCIES INVESTMENT GUARANTEE-MIGA, AFRICA Re 200 PE FUNDS-MAURITIUS 50+ TECHNICAL ASSISTANCE FUNDS
INVESTMENT OPPORTUNITIES 10 AGRO PROCESSING AND AGRI BUSINESS Fruits, vegetables, cereals and spices. Cocoa products, industrial starch Sea food processing and Aquaculture VALUE ADDITION Diamond polishing, Cocoa Products, Wood Products, Gold & Silver Jewellery (fine and custom jewellery) MANUFACTURING Pharmaceuticals, Textiles and Garments, Salt processing, electrical and electronic component assembly, aluminium base product, Capital goods manufacturing.