The president of Ghana National Chamber of Commerce and Industry, Mr Clement Osei-Amoako has said there are a lot of business opportunities within our neighbouring countries which Ghana can harness to avoid seeking external aid oversees.
He said African countries are endowed with business opportunities but fail to recognise those opportunities making foreign countries always come for the opportunities in the country
“Anytime there’s a problem, it brings an opportunity that we can harness yet we fail to recognise those opportunities, looking at what Ghana is doing as a country, going out for support means there is a huge financial gap in which the country needs to look within its neighbouring countries before running for external support overseas”
He made the remarks at the launch of the economic and trade promotion days between Ghana and Burkina Faso set on 27th September to 2nd October 2022.
“Across the globe, trade is recognized as a powerful instrument for strengthening economic and bilateral relationships.
It is against this backdrop that the Chamber finds the theme for the Economic and Trade Promotion Days.
“Strengthening economic and trade partnership between Burkina Faso and Ghana: which synergies of actions in the current context of the implementation of African Continental Free Trade Area”, reiterated by Mr Clement Amoako Osei
The Ghana National Chamber of commerce and Industry recognizes the steady and fruitful diplomatic relationship between Ghana and Burkina Faso. Following this cooperation, several projects have been proposed and undertaken including but not limited to a power interconnection projectas well as railway connectivity linking the two countries to enhance cross-border trade and bilateral integration.
There are many investment opportunities in Ghana including infrastructure, real estate development, road construction, healthcare and pharmaceuticals, Agro-processed goods, Plastics, Textiles, Cosmetics, and Manufacturers of Metals, Mineral oil, general trade, information and communication technology.
According to the International Trade Centre (ITC), the data shows that Ghana’s exports to Burkina increased from US$264 million in 2020 to US$276 million in 2021 and its imports from Burkina Faso amounted to US$ 50 million in 2021.
Similarly, the Export Potential Map projection based on demand and supply, market access conditions and bilateral ease of trade shows that the total value of the top 51 leading products from Ghana to Burkina Faso amount to US$ 8.4 billion.
Out of this amount, Ghana is exporting only 33 per cent representing US$ 2.8 billion. This means that there is huge export potential for Ghana and Burkina Faso which both countries can take advantage of.
The Burkinabe High Commissioner to Ghana, His excellence mister Pingrenoma Zagré, said, he is keen to ensure that Ghanaian and Burkinabè businessmen leverage this opportunity to straighten the ties between the two countries
