Business News of 2012-09-13

Gov't invests in cotton sector

The Deputy Upper West Regional Minister, Carle Caesar has invested an amount of six hundred and fifty thousand cedis in the cotton subsector which has created some job opportunities for some unemployed youth in the region.

He said that the government through the Ministry of Trade and Industry has revamped the cotton industry in the northern sector of the country which was on the brink of collapse.

He said the Ghana Cotton Company and cotton farmers in the northern belt of the country since 2010 have been supported to plough their fields and have been provided with cotton seeds, fertilizers and insecticides.

Mr. Caesar made the statement at a regional outreach programme organized by the Ministry of Trade and Industry in Wa.

Agencies under the ministry were given opportunity to speak about the policies, programmes and projects they have and the benefit that it will inure to the stakeholders.

Mr. Caesar said to transform the economy there has to be value addition to the agricultural produce for food security and exports.

In order to quicken this process, Mr. Caesar said the government has amended the export development investment fund to accommodate investments in agriculture.

He added that under the export development and agricultural investment, yam, mango pineapple and soya bean farmers are supported to meet the required standards set by the multilateral trading system.

The deputy Upper West Regional Minister appealed to the ministry to transform the Tumu/Hamile entry points in to free zones for the production of goods and export to the Sahel regions.

The Chief Director of the ministry, Nii Ansah Adjei on behalf of the sector minister Hannah Tetteh said the outreach programme embarked on by the ministry is ample demonstration of the importance her ministry has attached to its stakeholders.

Some of the participants expressed worries about the flooding of the market with substandard materials and the non-availability of ready market for sheanut.

Source: myjoyonline
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