Business News of 2014-04-27

EPA has come to save exporters- Industrialist

The Tema branch Chairman of Association of Ghana Industries, has called on government to speed up the process of signing the Economic Partnership Agreement with the European Union because Ghanaian exporters stand to gain tremendously.

Mr Charles Yao Mensah, told Ghana News Agency, in an interview that exporters would be guaranteed a smooth passage to the European market, which is the most preferred to most Ghanaians.

The EU market is the best market so far and it has a population of about five hundred million with very high per capita income and a very decent disposable income as well.

He said ideology is not an issue but whether we want to trade on the world market or be in our small corner.

Mr Mensah called on opinion leaders to allay the fears of Ghanaians and rather encourage the government to sign onto the EPA as local industries seek for support to expand their businesses and take advantage of its benefits.

He called on government to inject funds into local industries and also empower them to be export oriented, adding that the local industries face competition from China and India and not the EU.

Cheap imports are not from the EU market because they do not produce sub-standard goods. Local industries are already collapsing under the weight of goods from India and the China market which are of inferior quality and low standard.