Business News of 2014-05-07

Ghana among Germany’s top export markets in 2014

The German Ministry for Economic Affairs and Germany Trade and Invest (GTAI) have identified six countries, including Ghana that will earn increased attention from the German export economy.
The German list of “Top Export Markets 2014” includes China, Columbia, Indonesia, South Korea and the United Kingdom.
An internet portal of the German Embassy, German Information Centre Africa, quoted the State Secretary in the Federal Ministry for Economic Affairs and Energy, Mr Stefan Kapferer, as saying, "Ghana is characterised by an above-average growth, a positive development in the core sectors of the German middle class and a stable business environment."
Mr Kapferer said this when he was joined by the Spokesman of the management of GTAI, Dr Benno Bunse, and Mr Anton F. Börner, the President of the Federation of German Wholesale, Foreign Trade and Services (BGA), to present the global market analysis carried out by foreign trade experts.
The report also identified great opportunities opening up for mechanical engineering; an area where Germany is noted for its efficiency.
Trade, development relations
Europe, particularly Germany, remains the leading destination for Ghana’s exports.
Trade between Ghana and Germany is estimated at about €5 billion, heavily skewed towards Germany.
Mr Börner said; "the success of German companies abroad is primarily due to their competitiveness. German foreign trade cannot grow unless our firms open up new markets and expand their commercial activities abroad”.
He, however, pointed out that foreign trade was not a one-way street and that Germany would not be the leading exporter without imports.
Germany had shown good faith in Ghana by investing in the country, with about 155 companies operating in various sectors of the Ghanaian economy, the German ambassador, Mr Rudiger John, said earlier this year.
In addition, he said Germany was going to explore common projects in the areas of renewable energy and that the country was a trailblazer in revolutionising an entire energy system.
Germany also supports Ghana in development financing. For 2012-2014, bilateral commitments for Ghana came to roughly €160 million in the areas of agriculture, decentralisation, economic development and renewable energy.
Agrofood Fair 2014
A German trade fair specialist, Fairtrade Messe, in recognition of the huge potential in the country, has started preparations towards the second edition of agrofood and plastprintpack West Africa, exhibitions and conferences slated for Accra from December 2-4, 2014.
The first edition, held around the same period last year, attracted 1,326 professional visitors from 37 countries. As many as 75 per cent of the visitors were decision makers, and they took the opportunity to discuss business with 81 exhibitors from 21 countries.
Both the German Embassy and the Delegation of German Industry and Commerce in Ghana (AHK Ghana) supported the event, which proved a great success, as 86 per cent of exhibitors recommended the new West Africa flagship event.
According to fairtrade Messe, leading exhibitors such as Döhler, Gea Westfalia, Wild and Windmöller & Hölscher had already re-booked their stands for the upcoming event in December 2014.
Institutional support
The organisers of the event enjoyed substantial institutional support from state organs such as the Ministry of Food and Agriculture and the Ministry of Trade and Industry.
Again, it will come with a special Austrian pavilion supported by Advantage Austria.
Fair organisers have also created the agrofood industry portal which allows exhibitors and visitors to connect before, during and after the event.
Source: graphic.com
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