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Posts Tagged 'Ministry of Trade and Industry'

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Turkey has $516m investments in Ghana - Ambassador Bayazit

Turkish investments in Ghana currently amount to around US$516 million, the Ambassador of Turkey to Ghana, Madam Nesrin Bayazit, has announced.She said there were over 150 Turkish companies and businesses registered in Ghana, some of which were conducting exemplary projects in various fields.In 2017, she said their trade volume reached US$353 million and they were targeting US$1 billion in the near future.The ambassador was delivering her address at a reception to mark the 95th anniversary of the foundation of the Republic of Turkey as well as the 60th anniversary of the establishment of diplomatic relations between Turkey and Ghana.

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‘Trade facilitation should gain traction in 2018 budget’ - Trade Expert

Government has been urged to prioritise implementation of the measures in the Trade Facilitation Agreement in the 2018 National Budget to position the country as a major continental trade hub within the next five years.Ghana has signed on to the World Trade Organisation’s Trade Facilitation Agreement (TFA), which enjoins the country to put strategies in place to address the delays and cost associated with the clearance of goods from the ports.

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Ghana EximBank Board inaugurated

The Deputy Finance Minister, Kweku Kwarteng has charged the Ghana Exim Bank to pursue pragmatic policies and programs to increase Ghana’s export revenue and improve the Balance of Trade (BoT).The Exim Bank is among others expected to support local producers with the necessary financial and technical expertise to position them to compete favourably with their foreign counterparts.

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80 companies to receive stimulus from government – MOTI

Eighty companies have so far qualified to receive support to boost their businesses under government’s $50 million National Industrialisation Revitalisation Programme.
They have been selected from more than 350 viable business facing distress who submitted applications for the programme to the Ministry of Trade and Industry (MOTI).Mr Robert Ahomka-Lindsay, Deputy Minister for Trade and Industry (MOTI), said government believed that the best way to create jobs for citizens of the country was to embark on an extensive industrial transformation drive.

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Single Window To Reduce Cost By 25%---Trade Minister

The Trade and Industry Minister, Alan Kwadwo Kyeremateng, has indicated that importers and exporters will experience a full reduction of administrative charges at the port by 25percent under the implementation of the Single Window.The Sector Minister said Government is expected to achieve an overall reduction in the administrative time and cost of trading internationally by 50percent and 25percent respectively in the next three years under the National Single Window project.

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EPA roll out: Ghana trains GRA staff on ‘Rules of Origin’

The Ministry of Trade and Industry has commenced a nationwide training of staff of the Customs Division of the Ghana Revenue Authority (GRA) to enable them undertake their mandate in ensuring compliance with Rules of Origin under the Economic Partnership Agreement (EPA).This follows the ratification of the interim EPA between Ghana and the European Union (EU).

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Two ministers promise to solve tracking device problem at Tema Port

The Ministry of Transport and Ministry of Trade have assured transit truck drivers stuck at the Tema Port of an urgent solution to the unavailability of tracking device.Dr Spio Gabrah and Mr Fiifi Kwetey, Ministers of Trade and Transport respectively, gave the assurance on Thursday when they visited the truck transit terminal at the Tema Port to get first hand information on the matter.

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Large quantity of seized goods destroyed

The Customs Division of the Ghana Revenue Authority (GRA) has destroyed large quantity of seized unwholesome and smuggled goods. These included 13,776 cans of soft drinks and 5,038 packets of assorted cigarettes.They were disposed of at the Kaase dumping site and present were officials from the Environmental Protection Agency, Trade and Industry Ministry and the security agencies.

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African countries must add value to their exports – US Ambassador

Mr. Robert Jackson, the United States Ambassador to Ghana, said Africa must add value to their exports in order to move to the next phase of development and job creation.Speaking at the ECOWAS Industrial Summit Gala Dinner at the Banquet Hall in Accra, Mr. Jackson said there are tremendous opportunities for West Africa to develop and expand job intensive, value-added industries such as agribusiness, textiles and apparel

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Businesses calls for implementation of trade agreements

A coalition of business associations has renewed calls for the ratification and implementation of the Trade Facilitation Agreement (TFA) to expedite trade and clearance of goods at the country's ports.The TFA, which is expected to be forwarded to Cabinet for onward submission to Parliament for ratification and implementation, is currently locked up at the Ministry of Trade and Industry.

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