Fourth Spanish products exhibition opens

The Deputy Minister of Trade and Industry, Abu-Bakar Saddique Boniface on Wednesday opened the fourth Spanish Products Exhibition in Accra with a call on Ghanaian entrepreneurs to work hard to increase productivity and adopt a more aggressive promotion of Ghanaian products in Spain.

Ghana, he observed, had recorded a negative trade balance with Spain since 1996 and Ghanaian entrepreneurs, through product research and other measures could make their products competitive in the Spanish market. They could also introduce new ones.

Mr Boniface said in 1996, Ghana's imports from Spain amounted to 51.88 million dollars, while her exports fetched 31.27 million dollars. This trade deficit came down to 10.76 million dollars in 1999, but it went up again to 18.42 million dollars last year.

Ninety-five companies from Spain and the Canary Islands are exhibiting in the four-day fair, which is showcasing materials, car and car accessories, telecommunication equipment, food, drinks, laboratory equipment, sewerage materials and leather products.

Others are stationery, cosmetics and perfumes, laboratory equipment, tourism potentials and educational opportunities in Spain and the Canary Islands.

Mr Boniface said the changes in the international trading environment brought about by globalisation create daunting challenges for both developed and developing.

He told the Spanish investors about the Free Zones Programme saying it was an initiative for attracting increased investment to promote value addition to jump start industrialisation.

Mr Boniface asked the exhibitors to visit the Tema Export Processing Zone and welcomed the intention of the Spanish government to provide a loan of 100 million dollars for the industrial sector.

He urged Spanish firms to take advantage of the African Growth and

Opportunity Act and relocate and invest in Ghana because they stood to gain substantially.

Mr Angel Ferrera Martinez, President of the Spanish Chamber of Commerce, said the fair was a fulfilment of the promise to continue with it.

He said 40 companies participated in the first fair in 1995, there were 56 in 1997, 67 in 1999 and 95 this year. Mr Martinez said Spain attached great value to Ghana's minerals, energy and fisheries sectors. He added that many Spanish firms, especially those in the Canary Islands, were interested in the Ghanaian market.

Mr Fernando Corral, Spanish Ambassador in Ghana, said the fair was a further boost to the bilateral relations between the two countries and expressed the hope that it would produce good results.

Mr Kwame Ofori Amanfo, General Manager in Charge of Administration, Ghana Trade Fair Company announced that Spain had booked 500 square metres for the 2002 Ghana International Trade Fair.