Ghana records €3.1 billion in exports to EU market in 2018

Ghana records €3.1 billion in exports to EU market in 2018
Source: Ghana | Charles Ayitey | JoyBusiness
Date: 27-09-2019 Time: 10:09:41:am

Head of Cooperation for the European Union (EU), Zoltan Agai, says programs are being initiated and supported to boost export margins in the country.

This follows his announcement of Ghana recording a 48 percent rise in export in 2018 alone.

Ghana is part of West African countries partaking of the West Africa Competitiveness Programme (WACOMP) which equips participating markets to improve upon raw materials to make more returns in exports.

Speaking at a Stakeholder’s meeting on the West Africa Competitiveness Programme (WACOMP), Zoltan Agai pledged “EU’s full support for the country’s export initiatives considering the strides being made to improve export margins”.

Ghana has been picked out as a priority market in the West Africa Competitiveness Programme (WACOMP) after recording impressive performance in exports in 2018 alone across the agribusiness value chain.

The program, which is a partnership initiative between the Economic Community of West African States (ECOWAS) and the European Union (EU) saw Ghana record an export volume worth €3.1 billion to the European market in 2018.

Chief Technical Advisor for the West Africa Competitiveness Program – Ghana Component, Charles Kwame Sackey told JoyBusiness “Ghana’s export volumes to the EU market should double if not tripled by the end of this program as companies will be exposed to practical strategies to remain highly competitive in the export market”.

WACOMP is funded through a €120 million contribution from the Regional Indicative Programe for West Africa under the 11th European Development Fund.

In Ghana, the program is implemented by the United Nations Industrial Development Organization (UNIDO) in coordination with the Ghana’s ministry of trade and industry.

WACOMP-Ghana is implemented by UNIDO with the aim to strengthen the export competitiveness of the Ghanaian economy through enhanced value-added, low carbon, sustainable production and processing and increased access to regional and international markets.

As a means, the project aims to improve the performance and growth of three value chains – Casssava, Fruits (mango and pineapple) and cosmetics as well as personal care products.