Ghana could soon stop exporting raw materials to the international market as part of initiatives proposed to enhance the ‘Ghana beyond aid’ agenda, Senior Minister Yaw Osafo Maafo has said.
He said, exports will be restricted to added-value products only, as that will help Ghana maximize its gains in a trade with its partners.
Mr Osafo Maafo made the disclosure in a keynote address at the lunch of the Ghana Indian Trade Advisory Chamber in Accra. The ‘Ghana beyond aid’ agenda is a move to transform the country without aid according to the Senior Minister.
“We want this program to survive with the input from the private sector because as we always say, you are the engine of growth,” he said.
“Very soon we might be putting a stop to the export of raw materials and rather encourage added-value export. We realized that the earnings on added-value goods when exported are far higher than raw materials.”
The Ghana Indian Trade Advisory Chamber (GITAC) is a non-profit organization whose primary objective is to facilitate the building and nurturing of mutually beneficial relationships between Ghana and India. It is established to promote and enhance trade, investment and cultural interactions between Ghana and India.
GITAC consists of various sectors including Trade, Financial Services, Hospitality, Engineering, Agro-Processing, Manufacturing, Import and Export Services, Information and Communication Technology, Education, Aviation, Shipping and Logistics.
The Chamber would provide consultancy to promote a close collaboration between research and policy formulation in the field of trade and investment and bring together global expertise to bear on trade.