Ghana in high spirit ahead of official opening of Yiwu Fair

Ghana’s expectations are high ahead of the official opening of the Sixth China Yiwu International Forest Products Fair on Friday.

It is the first time Ghana is participating in the Fair, which has attracted over 1,300 enterprises from 24 countries and regions and 21 domestic provinces, municipalities and autonomous regions in China, as well as forest industry groups. The fair slated for November 1 to 4 at Yiwu in the Zhejiang Province of China, is on the theme: “Innovation-driven, Low Carbon-led.'

The Ghana Export Promotion Authority under the auspices of the Ministry of Trade and Industry is collaborating with the Ghana/China Friendship Association (GHACHIFA) to co-ordinate the participation of over 40 Ghanaian entrepreneurs and institutions in the 2013 China-Yiwu International Forest Products Fair.

Speaking to the media Mr Gideon Quarcoo, CEO of GEPA, said official expectations are high in view of the growing economic status of China “We have very high expectations of our participation in the Fair, especially as Yiwu is the designated trade city of China,” he said, adding that he expected the influx of visitors to Ghana’s stand and partnership deals for Ghanaian entrepreneurs and institutions.

He said the objective of Ghana’s participation in the fair was to promote the country’s non-traditional export items, explore and secure export ventures as well as technology transfer and investment deals for Ghanaian entrepreneurs.

“In effect, we are seeking to attract investments into Ghana, address supply side constraints and technology transfer, through partnership with Chinese and Ghanaian entrepreneurs and institutions,” he said.

China’s total imports from Ghana last year stood at $ 2.05 billion, a 27 per cent increase over the previous year’s figure. The imported commodities were mainly cocoa, consumables and building materials.

Mr Quarcoo said Ghanaian entrepreneurs must see the fair in China as a good and wealthy investment and opportunity, to access the huge Chinese market, as that can help position their businesses.

Mr Kojo Amoo-Gottfried, President of the Ghana/China Friendship Association, said the Fair would help expand the frontiers of trade exchange between Ghana and China, not only government to government but also entrepreneurs.

Ghana will hold a special day on Friday and an investment promotion seminar on the sidelines of the fair on Saturday. Institutions, including GEPA, Ghana Investment Promotion Centre, and Ghana Ports and Harbours Authority, are billed to make presentations to the Chinese business community about investment opportunities in Ghana.

Ghana’s delegation to the Fair is led by Nii Lantey Vanderpuye, Deputy Minister of Trade and Industry.