Businessmen attend workshop of AGOA

Ho, Oct 6, GNA - The high standards set by the United States Customs for exports under The African Growth and Opportunities Act (AGOA) should not deter Ghanaian businessmen from clinching deals with their US counterparts, Dr. Gordon Asare-Kyeremateng, a Business Consultant said on Monday.

He told 50 participants at the second regional workshop on AGOA that those competitive standards, when attained, would make the goods not only acceptable in the US but the rest of the world.

Dr Asare-Kyeremateng, an Advisor at the AGOA Desk of the American Chamber of Commerce (Ghana), (AMCHARM), called on Ghanaian business people to exploit opportunities under the US initiative which is aimed at reducing poverty in sub-Saharan Africa.

Under AGOA 38 eligible sub-Saharan African nations have the opportunity to export a range of 6,400 products under preferential terms into the 10 trillion-dollar valued US market.

Among participants for the one-day workshop, which was under the theme "Taking Advantage of the AGOA Initiative" are fashion designers, batik, tie and dye makers, vegetable farmers, dressmakers, herbalists, charcoal burners and bee keepers.

Dr Asare-Kyeremateng said under garment exports only products with what he called "Afro-centric" qualities are acceptable.

He said opportunities under the initiative are not limited to big time exporters only and that America holds opportunities for small exporters as well.

Concerns of participants were on the inability of the banks to offer credit facilities with Dr Nathan Sodzi, an Engineering Consultant and farmer, complained that while the banks strive to mop up money in the system they are reluctant to give it out for investment.