Gerald Nyarko-Mensah, a Consultant on Export Trade, says the manufacturing sector offers Ghana the best hope in the African Continental Free Trade Agreement (AfCFTA). He said the country had a manufacturing capacity in several areas that could be expanded to give Ghana a comparative advantage in the regional trade market, adding that the support for the sector was crucial.
Mr Nyarko-Mensah was speaking at the Ghana National Chamber of Commerce Industry (GNCCI) virtual sensitization seminar on AfCFTA in Accra on Wednesday on the theme: “AfCFTA: Adopting the right business strategies to fully benefit.” It was aimed at sensitizing small scale businesses on how they could strategize to benefit from the Agreement.
Mr Nyarko-Mensah said Ghana’s products with high potential for the market included petroleum products, palm oil and derivatives, soap and detergents, textiles and garments, manufactured decor articles (including handicrafts), wood and wood products, vehicles and automotive products, sugars and sugar confectionery.
Others are leather and leather products, milled products (flours), and their extracts, paints and varnishes, plastics and plastic products, ceramic products, salt, sauces and preparations, shea and shea products, processed vegetables and fruits.
The rest are pharmaceutical products, alternate health care medicaments beverages and spirits, dairy produce, cocoa and cocoa products, products of iron or steel, edible fruit and nuts, processed fish or meat, synthetic fibres, fertilizers, and aluminium products.
The Consultant said Ghana could massively expand its export presence in the Economic Community of West African States by exporting through the coastal countries.