President John Mahama has inaugurated a  Made in Ghana Committee with a view to making Ghana self-reliant.

The Committee chaired by Trade Minister Ekwow Spio Garbrah is in line with Government's vision of promoting made in Ghana goods and services.

The President lamented the increasing balance of payment deficits, which he said has come as a result of the country's dependence on foreign products.

According to him, the quantum of the country's exports is estimated at $13 billion while imports hovered around $17 billion, adding, the products which constituted the gap of some $4 billion are mostly products which Ghana can equally produce and yet are imported from other countries.

"Every country is getting its act together and Ghana must not be left behind because we are in competition for investment in our sub-region," he said.

The President was hugely impressed with the theme of the 2014 Farmers' Day Celebration- "Grow what we eat."

He said the theme could not have come at a better time and charged the Spio Garbrah - led committee to let the made in Ghana spirit permeate all economic activities in the country.

While bread is consumed in many homes in Ghana, the president said the wheat flour which is used in baking bread is imported.

He implored the country to explore other alternatives in the baking of bread either by growing wheat or using other products like cassava, from which flour can be produced for bread.

"We in Ghana cannot rest on our oars. We have to do everything that it takes to diversify our economy, reduce our import dependence and be able to expand the revenues that we achieve from our exports," he challenged.  

Chairman of the Committee Ekwow Spio Garbrah was grateful for the opportunity to serve in yet another important capacity, which he said was useful in promoting local products.

He said the objective of the President is to take up the mantle of promoting the Made in Ghana agenda, adding that he and his deputies are poised to achieve that goal.