The German Ambassador to Ghana, Marius Haas, has disclosed that Germany plans to establish a Trade and Industry office in Accra in view of the growing number of German companies investing in Ghana. Dr. Haas revealed that the office would facilitate economic partnership between the two countries. The Ghana Investment Promotion Centre, he noted, would also establish an office in Germany. Dr. Haas made these remarks at the opening of the 2nd Annual German European Business Trade Fair (GEREU). He called on entrepreneurs to reach out to new customers and increase their global market share in an era of global financial crisis, noting, “The chance to explore a new market is not only in the Far East. West Africa comes into the picture for innovative companies who want to invest.” He was hopeful that the fair would enable “newcomers on the West African market to find the right platform to interact with new business partners.” The fair, which is being organized by the Ghanaian-German Economic Association (GGEA), is expected to display innovative product developments from major European companies, Ghanaian representatives of European companies and indigenous Ghanaian companies. The fair is under the theme: “Overcoming the global financial crisis by exploring new markets in West Africa.” Opening the fair, the Deputy Minister of Trade and Industry, John Gyetuah said the fair would enhance trade between Ghanaian businessmen and their German and European counterparts. “Trade between Ghana and Germany has always been in favour of Germany,” he added. Ghana, Mr. Gyetuah noted, continues to record huge trade deficits due to the importation of high valued products like machinery and transport equipment (especially motor vehicles), chemicals and pharmaceutical products, iron, steel, frozen meat and diary products from Europe. Mr. Gyetuah revealed that government had embarked upon an industrialization programme to add value and diversify products to establish the country as a manufacturing hub in the sub-region, stressing, “Germany and the other European countries with advanced technology can assist Ghana achieve this objective. We want to add value to our agricultural products and export quality products to Germany and other European countries in order to reduce the huge trade deficit and create jobs for our people.” He urged German businessmen and women to assist the Ghanaian economy by investing in Agro processing. He acknowledged the efforts of the GGEA in organizing the fair and their immense contribution towards the promotion of trade and investment in the Ghana. Some companies participating in the fair came from various sectors of the economy including the automotives, Information Communication Technology, printing, finance, transport, logistics& inspection, chemicals, telecommunications, plant installation and machinery, pharmaceuticals and construction. Among the highlights of GEREU 2009 would be a display of pre-owned thermal, gas power plant stations and oil refineries for the energy sector. Pneumatic tube systems would also display products that protect financial institutions against armed robbery. The fair is expected to end on Saturday, October 3 2009. Story by Esther Awuah/Daily Guide/Ghana