Business News of 2014-03-28

Ghana too dependent on imported goods – Minister

The Minister of Trade and Industry, Mr Haruna Iddrissu, has expressed the government's concern about the country's dependence on imported goods.He said although Ghana was capable of producing its basic needs and foodstuffs for its local consumption, the country was too comfortable with importing them.

According to him, the service sector has recently contributed more to the gross domestic product (GDP) of the country than the manufacturing sector due to the size of its imports.

Mr Iddrissu made these remarks when the Director-General of the United Nations Industrial Development Organisation (UNIDO), Mr Li Yong, paid a courtesy call on him at the ministry in Accra.

He also impressed upon Mr Li Yong, a former Vice-Minister of Finance, to use his expertise to offer whatever support he could give to Ghana to help it realise its goal of increasing local production.

In his response, Mr Li Yong commended the ministry for the steps it had taken to improve the industrial sector of the country, and pledged his office’s assistance to enable Ghana to achieve its industrial development goals.