Ghana intends to rake in revenue of USD 25.3 Billion from Non-Traditional Exports by 2029, and as such government, since 2020 has developed the National Export Development strategy (NEDS) as a blueprint to achieve this ambitious target.
Simultaneously, the Africa Continental Free Trade Area has also been identified as a viable vehicle to drive the attainment of this 10-year objective.
Due to this, the Ghana Export Promotion Authority (GEPA), the lead agency for the implementation of the National Export Development Strategy has organized a one day NEDS/AfCFTA conference in Accra.
The workshop brought together key public and private sector actors that play significant roles in exports and the continental free trade in Ghana, to analyse the strategic interventions necessary for the success of the export development strategy.
A deputy Minister for Trade and Industry, Herbert Krapah, called for increased institutional collaboration towards the attainment of the NEDS target.
He emphasized that the success of the Africa Continental Free Trade Area, will hinge on effective and efficient export.
The Chief Executive Officer of the Ghana Export Promotion Authority, Afua Asabea Asare indicated that after the first year of the NEDS implementation, USD 3.33 Billion in revenue was made from Non Traditional Exports (NTEs).
“This represents 17% growth over 2020 earnings of 2.84 billion posing an increase in the annual growth rate of 7.07%. Despite this increase a lot more effort will have to be exerted to ensure significant increases for the achievement of the target,” she said.
The Head of Strategic Communications at the National Coordination Office of AfCFTA, Catherine Afeku said her outfit is helping ready Ghanaian businesses for the free market.
“We have introduced the Ghana Trade Information Repository in collaboration with GEPA as a one stop shop for people to have information on what to do, how to go about that and where to go,” she indicated.
An Assistant Commissioner of Customs, Fechin Akoto revealed that currently 29 countries in Africa can trade among themselves under AfCFTA.