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Mr. Yoovi Grant, the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC) has made a passionate appeal to African countries to make a concerted effort to promote intra-Africa trade saying it would inure to the socio-economic development and integration of the continent.
The CEO of GIPC who made the appeal at Ghana-South Africa chamber of commerce business meeting in collaboration with GIPC in Accra was not happy about the current intra-Africa trade. He said intra-Africa trade currently stood at 12% while trade between Africa and Europe was 65%, noting that there was the need the reversed the intra-Africa trade from 12% figure to 80%.
Mr. Grant who recently led business leaders of 31 Ghanaian companies to Western Cape, Kwuazulu Natal and Gauteng Province to explore trade and investment opportunities called on Ghanaian investment and business interests to explore the South African market in order to address the trade imbalance between Ghana and South Africa.
He opined that the southern African country market is a good business destination urging the Gauteng Province business delegation to use Ghana as a manufacturing base for their operations in the West Africa market owing to Ghana’s prevailing peace and political stability.
The Gauteng Province business delegation who are in Ghana on reciprocal bilateral business and trade visit according to Mr. David Makura, the Premier of Gauteng Province and the leader of the delegation would explore areas such as energy, road and infrastructure development, manufacturing, port including agriculture and agro-processing among others.
Mr. Makura also reiterated the need for Africa countries to trade among themselves but deplored the lack of investment in infrastructure by Africa countries. He said trade decisions taken by African leaders to promote intra-Africa trade would not materialized if cities and province on the continent do not trade among themselves.
He however implore for Africa countries and trade institutions on the continent to deal with corruption and what he described as “unnecessary trade regulations’’ to facilitate trade. The Premier of Gauteng Province urged Africa countries to turn its rich mineral resources into wealth stressing the need for business interests in Ghana to take advantage of business opportunities in South Africa.
Mr. Makura appealed to Africa countries to use the energy of the youth, good governance, a stable political environment and a thriving private sector to achieve sustainable trade.
Source: Adovor Nutifafa