Bilateral Relationship: American government commits to doubling trade volumes with Ghana

Marking sixty(60) years of bilateral trade relationship between Ghana and the US, the US government has expressed its intention of doubling trade volumes with Ghana.

We are committed to doubling our trade volumes with Ghana via continuous investments to add value to Ghana’s exports, that is coming from the American government.

The US Ambassador to Ghana, Robert Jackson says continuous investments  should raise Ghana’s trade volume with the US from the current 1.2 billion dollars to 2.4 billion dollars.

READ ALSO: Ghana ranks high in investor confidence

Mr. Jackson made the remarks at a ceremony to commemorate USA’s 241st Independence Celebration in Accra.

“What I want to do is building on what we are already doing in our agro- industry; see a lot more processed goods being exported into the US.

Mr.Jackson believes that finished products being exported to the United States has the potential to see Ghana’s exports increase.

This development he believes will create more jobs which will also result in more American investments here in Ghana.

READ ALSO: US wants equal and stable partner in Ghana: Amb. Jackson

Ghana is already benefiting from the African Growth and Opportunity Act (AGOA) in its agricultural sector.

Efforts to tap into the potential of Ghana’s textile industry should triple textile exports within the next few years, he stated.

 “There is also great opportunity in the textile sector. I believe that Ghana’s textile export to the United States could easily triple within two to three years.

Meanwhile, finance Minister, Ken Ofori Atta was highly confident policies to diversify the economy and improved oil production should also increase Ghana’s trade volumes with the US within the short to medium term.

“What we have seen since 2012 is that we have gotten a positive trade balance of over 2.8 billion dollars since that period and our expectation is that we will continue to increase that. “I think with the diversification of the economy for more value added products, that should increase and with the new finds in oil, that should also help that,” Mr. Ofori Atta remarked.

Marking sixty(60) years of bilateral trade relationship between Ghana and the US, the US government has expressed its intention of doubling trade volumes with Ghana. Read Full Story