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Business News Wed, 22 Jan 2003

Trade Houses To Be Established

The Minister of Trade and Industry, Dr Kofi Konadu Apraku has opened a Ghana Trade House at Port Louis in Mauritius to serve as the focal point for Ghana's intensified trade and investment efforts in that country.

A statement by the Ministry in Accra said the ceremony formed part of the Minister's visit to Mauritius where he attended the AGOA Forum during which he co-chaired a session on financing Small and Medium Enterprises (SME's) with the US Under-Secretary of Treasury, Mr John Taylor.

Mr Apraku said various discussions are on-going to open other Trade Houses in Malaysia and Singapore. He added that more than a dozen Mauritian, Indian and Spanish firms are planning to visit Ghana to follow up discussions held at the forum with the view to setting up businesses in Ghana.

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He announced that, various companies, including, the Berlin Textiles would start the production of T-shirts and jeans in the country from March this year. He said another company, Speedway Company, is near completion of negotiations to build a Garment and Textiles Village at Tema under the Presidents Special Initiative. Dr Apraku said, Fuskhia, a Mauritius firm has also signed a Memorandum of Understanding with the Ministry to develop a sugar plantation and refinery.

Fuskhia is also at an advanced stage of negotiations with the State Housing Corporation to construct 20,000 housing units. The US Under-Secretary, Mr Taylor on the request of Dr Apraku said Ghana would be selected as the pilot country for an IFC-SME's financing project.

Source: .
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