The Minister of Trade, Dr. Ekow Spio-Garbrah, has reiterated government’s commitment to improve the country’s local manufacturing sector in a bid to reduce the nation’s increasing import bills.
Concerns have been raised over Ghana’s increasing balance of trade deficit due to increased imports compared to less export. The country’s balance of trade deficit at the end of the third quarter of 2015 was about $455 million dollars representing 1.3 percent of Gross Domestic Product (GDP).
Dr. Spio-Garbrah says although the Export Trade Development and Agricultural Investment Fund (EDAIF) has facilitated the granting of some support services to certain sectors, more needs to be done to reverse the trend.
He was speaking at the launch of the Made in Ghana campaign in Accra.
“In recent years through the Export Trade Agricultural Investment Fund (EDAIF), the government has supported a wide range of companies and industries many of them in the pharmaceutical, poultry and other agribusinesses with the aim of helping to achieve this campaign objective,” he said.
Dr. Spio-Garbrah added, “The campaign is not just talking or advertising the products, the reality of actually helping. All of us can help these enterprises and businesses to protect these businesses, to strengthen and sustain them and encourage Ghanaians to buy products at the quality that they need while encouraging the local manufacturers to produce the highest possible quality. The objective of course is not just Ghanaians buying made in Ghana goods in Ghana but helping others who are in the Diaspora and that translates to promoting our exports.”
The made in Ghana campaign involves activities embarked on by the government as part of efforts to reduce the country’s unbridled taste for foreign products and switch to locally manufactured ones.
source: citifmonline