Business News of 2012-10-09

50 Exporters Excel

A number of operators in the export industry in Ghana have been honoured for their excellent performance and contribution to the growth of the country’s economy.

In all, about 50 exporters received plaques and certificates for stimulating the growth of the non-traditional export sector for the past two decades.

The awards night, organized by the Ghana Export Promotions Authority, was themed “providing sustainable motivation for export excellence.”

The top-most award was won by Interplast Limited, exporter of plastics while Magrate Tweneboah-Boateng of Excel industries Limited, a dealer in aluminum household utensils, was named as the Woman Exporter of the year.

Ernimich limited, an exporter of processed food, received an award for being the most diversified company with Cocoa Processing Company Limited taking a platinum award for its excellent performance in the export of chocolate, cocoa butter, cocoa paste and cocoa powder.

Other companies, which were honoured at the State Banquet Hall included Kinapharma limited, Dhilion Farms Internaltion, Kpone Lobster Export Company Limited, Ghana Nuts Company Limited and Latex products Limited among others.

Hannah Tetteh, Minister of Trade, told exporters at the 22nd National Awards for Export Achievements that government is set to come up with a four-year national strategy on export to develop the potential of the non-traditional export sector.

The national export strategy, which is being developed, is expected to maximize the contribution of the non-traditional export sector to the nation’s Gross Domestic Product (GDP).

The Minister of Trade said the strategy would facilitate the creation of jobs and ensure high standard of living for the people.

She noted that the strategy would consolidate and enhance Ghana’s middle income status.

To engender a conducive environment for the export of non-traditional goods and services, she said there were plans to build and expand existing trade infrastructure.

“Government is therefore committing $500 million out of the $3 billion loan from the China Development bank to expand the Tarkoradi and Tema Ports and rehabilitate the Western railway line.”

The minister said the nation was vigorously pursuing efforts to penetrate the markets of other countries on the continent.

“The benefit of regional trade is enormous and we need to undertake an urgent and concerted effort as a country to enhance our market share of the Economic Community of West African States market.”

Currently, non-traditional export to the sub-region is about $655 million but the minister challenged the Ghana Export Promotion Authority and all the exporters “to move it to $1 billion by 2014.”

Stephen Normashie, acting Chief Executive Officer (CEO) of the Ghana Export Promotion Authority, stated that in 2011, non-traditional export contributed $2.423 billion to Ghana’s economy, representing an increase of 48.74 per cent in value over the previous year’s earnings.

This year, he said, the authority was undertaking a number of activities to support and sustain the growth of the export sector.

“In line with the positive interventions from the government, we wish to assure you that we will strive to consolidate and even deepen the gains we are making to ensure that the non-traditional export sector not only exceeds the set target of $5 billion by 2015 but also contributes more than a quarter of total exports from Ghana.”