On July 10, the second Trade and Investment Framework Agreement Council Meeting was held at the International Trade Fair Conference Centre. The Deputy US Trade Representative, Ambassador Jon M. Huntsman, attended the meeting to sign two US Trade and Development Agency (TDA) grant agreements, valued at $542,000. Minister Kofi Apraku countersigned the grants on behalf of the Ministry of Trade and Industry.
Ambassor Huntsman confirmed that the TDA were "pleased to support President Kufuor's vision of promoting business opportunities".
The grants are to be used to assess the feasibility of proposed salt refinement and water distribution projects. US consultants will be investigating commercial salt production on the Songhor Lagoon and delivery resources between Ghana, Lom?, Sogakope and Togo. The studies will be particularly beneficial in determining the safety levels of water already supplied by the Ghana Water Company (GWCL). The results of the assessment will in turn highlight the best options available to the GWCL.
These agreements symbolise the working commitment of the US Government to strengthen Ghana's regional economy. Participants at the meeting agreed to continue the expansion of international trade under the African Growth and Opportunity Act (AGOA).
African exports nave already increased by 61.5 percent under AGOA. "We are here because of our shared confidence in the potential of Ghana and her neighbours to realise even greater benefits," said Ambassador Huntsman.
At the meeting, the purposes of discussions were to affirm stable foundations for trade capacity building and business linkages. The establishment of a US Agency for International Development in West Africa would support further studies of trade and investment. African apparel, textile, leather and agribusiness companies have drawn particular interest from the TDA.
The TDA promotes American private enterprise involvement in emerging international markets. The promotion and participation of the US private sector is achieved through funding as received at this year's council meeting. Specialised projects are also encouraged by the TDA. For example, training grants, business workshops and technical assistance programmes are offered to commercial companies.
