The Ghana Export Promotion Authority (GEPA) is spearheading the formulation of a new National Export Development Strategy, to help promote a rapid increase in non-traditional exports (NTEs) within the next 10 years.

The Strategy, aligned to the government’s industrialization agenda, envisages that NTEs would grow from $2.8 billion in 2020 to $25.3 billion in 2029.

Dr. Afua Asabea Asare, Chief Executive Officer (CEO) of GEPA who announced this advised businesses to take advantage of the African Continental Free Trade Area (AfCFTA) agreement to expand their markets and export to other parts of the Continent.

She was speaking at the opening of a Regional Conference on the implementation of the AFCFTA and the National Export Development Strategy (NEDS) at Elmina on Monday.

The conference was aimed at encouraging stakeholders in the industry to take advantage of the AfCFTA to participate in the national development agenda to facilitate the growth of the economy.

It was organised by the Ministry of Trade and Industry (MOTI) in collaboration with GEPA and the National AFCFTA Coordination Office with funds from the Stanbic Bank.

The conference under the theme “Empowering Ghanaian Businesses to Harness the Benefits of African Continental Free Trade Agreement Under the Framework of the NEDS”, brought together relevant stakeholders from the private and public sectors in Ghana.

It was also to encourage businesses in the sector to explore more business opportunities to boost the National Development Agenda.

It also discussed the Government of Ghana's export development interventions aimed at empowering the private sector to harness the benefits of AFCFTA.

Dr Asare explained that Ghana had over the past decades, enhanced its stature in international trade, recording substantial expansion in total exports, adding that this was achieved through the joint efforts of the government and the Ghanaian private sector.

However, she indicated, the relatively weak performance of the Non-Traditional Exports (NTEs) sector in recent years and other externalities in the international trading environment have revealed risks, weaknesses, and uncertainties associated with over-dependence on primary commodity exports and limited product diversification and value addition.

She said that was the reason President Akufo-Addo, wanted a complete paradigm shift from the export of raw materials to the value addition of the country’s products.

Dr Asare said the government had embarked on an aggressive industrialization agenda that saw the establishment of several manufacturing companies under the Government’s flagship 1D1F programme.

She said there was a need for the country to increase its NTEs in order not to overly rely on the exports of primary commodities.

Mr. Robert Ahomka Lindsay, the Deputy Minister of MOTI pledged Government’s commitment to the AFCFTA and other empowerment projects and initiatives implemented for the private sector to stimulate Ghana’s trade with Continental Africa.

He indicated that the AfCFTA which was meant to build wealth within African countries also marked a key milestone in the government’s efforts to industrialize the country.

Mr. Lindsay, projected that if all the 54-member African countries executed the AfCFTA, which will start in January 2021, there was going to be a 52 per cent increase in intra-African trade by the year 2022.

The Deputy Minister revealed that the agreement would also catalyze the government’s efforts towards industrialization as there would be bigger markets for businesses to export their products.

Mr Samuel Dentu, the Deputy CEO, of the GEPA, schooled participants on the overview of the NEDS and interventions in support of AFCFTA.

He indicated that the government has developed a comprehensive NEDS strategy that prioritizes, expanding services; improving the business regulatory environment for export, building, and expanding the required human capital for industrial export and marketing.

Mr. Kwamena Duncan, the Central Regional Minister on his part, urged participants to take advantage to build a developed, prosperous nation for the citizenry.

He tasked them to harness the AFCFTA to contribute to the intended policies which could make Ghana the lead in the trade-industry globally.

Participants included CEOs in the Business Community, Government Agencies and Sectoral Heads, Municipal and District Chief Executive Officers, Representatives of Civil Society Organizations, Exporters, and Development Partners.