Ghana to Narrow Trade Deficit With Denmark

Ghana Tuesday asked Denmark to add semi-processed cocoa products to its list of preferred imports to reduce the huge trade deficit between the two countries.

According to the latest trade figures, Ghana's 1998 exports to Denmark reached the highest level of 8.11 million dollars. In the same year, Denmark exported to Ghana goods worth 17 million dollars.

"Total trade between the two countries is yet to attain even the 26 million-dollar a year mark," said Ghana Deputy Minister of Trade and Industry, Pius Griffiths.

"This is not acceptable. We need to increase this and add products like cocoa to the list."

He was speaking at a workshop of the Association of Ghana Industries (AGI) and the Danish Industry Partnership in Accra.

Denmark's exports to Ghana consist of machines, electrical equipment and consumer goods, while Ghana exports fresh fruits, pepper, processed fish, sheanuts, coffee, cocoa beans, knocked- down furniture and wood veneer in return.

Cocoa is Ghana's second highest foreign exchange earner after gold, and economic analysts believe an expanded market of semi-processed cocoa to the EU market would bring in the foreign exchange required for national development.

At present, Ghana has one cocoa processing plant, with five more being planned for its free trade zones.

Ole Blicher-Olsen, Danish ambassador to Ghana, told the workshop that Ghana ranks high on the list of Denmark's donor programme and hopes that the current annual grant of 30 million dollars will be increased to 40 million dollars from 2001 to 2004.

"We hope that the programme can generate dynamic social progress in Ghana through transfer of technical know-how," Blicher-Olsen said.

About 50 Danish companies operate in Ghana.