The first Indian Textile Exhibition has opened in Accra. The two days exhibition aims to provide the Ghanaian and Indian entrepreneurs the opportunity to up-date their knowledge on raw materials, production, technology, machinery and marketing techniques. The Exhibition also aims at enabling interactions between them to enhance their competitiveness and promote export drive.
Opening the Exhibition, the Minister of Trade and Presidential Special Initiatives, Alan Kyeremanteng disclosed that the world?s annual trade in textiles has been expanding reaching more than $300billion in value ,representing about 8% of the world?s merchandise and manufacturing trade.
It is also estimated that 56% of the expansion represents the share of developing countries in the world export market on textiles, with countries such as Hong Kong, India, Indonesia, Taiwan and Pakistan as the largest exporters of textiles with 40% share. He explained that African countries play a marginal role in the world textile exports.
Mr. Kyeremanteng went on to say that Ghana needs to reverse the situation and launch into the lucrative and yet demanding global economy with Success, by tapping ideas to improve on it?s textile industry. He said government on its part has acquired 178 acres of land at the Export-Processing Zone in Tema to be developed into a textile and garments village with over 100 sheds currently under construction.
The Entrepreneurs are also in the country to explore avenues to establish firms in the country to produce textiles that will create employment and generate income for the country. On his part the Indian high Commissioner to Ghana said intends supporting 500 small and medium scale garment producers to increase export of garments. He said the sector is supposed to generate 40,000 jobs in the next five years.
