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America (US) Division of Commerce has projected the worth of commerce between Ghana and US to double within the subsequent two years.
At present, the worth of commerce between Ghana and U.S stands at $2.7 billion.
“We’ve got a robust industrial relations. I am hoping that we will take that $2.7 billion or someplace round that vary, and double it in only a matter of two or three years after which double it once more in just some years after that,” the Deputy Secretary of the US Division of Commerce, Don Graves mentioned on the US-Ghana Enterprise discussion board in Accra on Thursday.
The discussion board, organised by the US Chamber of Commerce and the American Chamber of Commerce Ghana, was the third Excessive-Stage assembly between US and Ghanaian authorities officers and companies on the official go to of Mr Graves.
It aimed toward deepening diplomatic and industrial partnerships between Ghana and the USA for the profitable implementation of the African Continental Free Commerce Settlement (AfCFTA).
It was on the theme “Leveraging AfCFTA to advertise US-Africa Business Partnerships.”
Mr Graves mentioned the US was dedicated to being a robust, long-term, and steady companion to Ghana in ways in which have been “mutually helpful and devoid of exploitation.”
Via this partnership, he mentioned, the US goals to broaden commerce and funding between the U.S. and Ghana whereas creating jobs and sustainable progress in each international locations.
With a globe recovering from the shocks of the COVID-19 pandemic, he mentioned US President Biden was dedicated to supporting agricultural funding, elevated fertiliser, and power manufacturing to fulfill the challenges of each international locations.
He mentioned there was a necessity for the 2 international locations to search out methods to work collectively and spend money on extra resilient provide chains and cooperate to cut back inflation as a key driver towards restoration.
Mr Graves mentioned the US noticed alternatives for additional engagement in sectors of mutual precedence together with infrastructure, well being care, healthcare techniques, ICT, and local weather resiliency, in addition to workforce coaching and capability constructing to stimulate the entrepreneurial ecosystem.
Via the partnership, he mentioned, the US may assist Ghana’s One District/One Manufacturing unit programme by partaking U.S. corporations to supply expertise and high-quality infrastructure that alleviate the hazards of local weather change.
“This might function a superb basis for Ghanaian financial progress and prosperity whereas concurrently combating long-term shifts in temperatures and climate patterns,” he mentioned.
The Minister of Finance, Ken Ofori-Atta, mentioned the longstanding Ghana-US partnership had been helpful with Ghana getting 13 Overseas Direct Funding initiatives throughout the nation final yr.
He mentioned Ghana was one of the best funding vacation spot on the continent whereas it was able to construct economically viable partnerships in addition to leverage AfCFTA for the socio-economic growth of the nation.
He gave the peace of mind that Ghana would revive its present pact with the US authorities for doable enchancment in areas of expertise, housing, infrastructure, prescription drugs, tourism, agribusiness, manufacturing, and providers.
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