Minister of Trade and Industry, Hon. Alan Kyerematen at the Ghana-South Africa Business Forum has reiterated the need for Ghana and South Africa to seek advanced cooperation in strategic investments needed to harness the vast resources for industrial transformation and to boost intra Africa trade and regional economic integration.
This according to him will go a long way to share experiences, as well as exchange information on priority sectors, special initiatives, and opportunities readily available for investments and strategic partnerships between private sector operators.
Full Text Below;
WELCOME REMARKS BY HON. ALAN KYEREMATEN, MINISTER FOR TRADE AND INDUSTRY AT THE GHANA-SOUTH AFRICA BUSINESS FORUM AT THE KEMPINSKI GOLD COAST CITY HOTEL, ACCRA ON SUNDAY, 5TH DECEMBER 2021 AT 11:00AM
HIS EXCELLENCY NANA ADDO DANKWA AKUFO-ADDO, PRESIDENT OF THE REPUBLIC OF GHANA;
HIS EXCELLENCY CYRIL RAMAPHOSA, PRESIDENT OF THE REPUBLIC OF SOUTH AFRICA;
HIS EXCELLENCY WAMKELE MENE, SECRETARY-GENERAL OF AFCFTA;
COLLEAGUE MINISTERS OF STATE FROM GHANA & SOUTH AFRICA;
MEMBERS OF THE DIPLOMATIC CORPS;
SENIOR GOVERNMENT OFFICIALS FROM GHANA AND SOUTH AFRICA;
CAPTAINS OF INDUSTRIES;
DISTINGUISHED INVITED GUESTS;
LADIES AND GENTLEMEN.
Let me start, first on behalf of HE the President of the Republic of Ghana and on my own behalf, extend a very warm welcome to you all to this Business Forum, particularly to the distinguished delegation from the Republic of South Africa led by His Excellency Cyril Ramaphosa.
This Business Forum is a necessary and timely conversation to have, as Ghana and South Africa seek to advance cooperation in strategic investments needed to harness our vast resources for industrial transformation and to boost intra Africa trade and regional economic integration. This platform will not only enhance partnership between Ghana and South Africa, but will enable us to share experiences, as well as exchange information on priority sectors, special initiatives, and opportunities readily available for investments and strategic partnerships between our private sector operators.
Excellences, Distinguished Colleagues, Ladies and Gentlemen
South Africa is one of Ghana’s most important bilateral partners within the sub-region in terms of trade and investments. Trade between the two countries has seen a significant increase over the past few years from $708 million in 2016 to over $2 billion in 2019, making Ghana home to many South African investments in the sub-Sahara Africa. These businesses operate in the agriculture, building and construction, telecommunications, manufacturing, financial services, mining, beverages, retail, and hospitality sectors of the Ghanaian economy.has
I am optimistic that with the coming into force of the AfCFTA Agreement and effective implementation of the various protocols under the AfCFTA framework, trade, and investment between our two countries will continue to improve significantly. This will ensure that our citizens will enjoy the mutual benefits that are likely to emerge from our close economic cooperation.
Distinguished Invited Guests, Ladies and Gentlemen,
The onset of COVID-19 pandemic has further increased the importance AfCFTA presents to our private sector. The disruption of global supply chains caused by the pandemic has reinforced the necessity for closer integration amongst African economies so that we can boost our mutual self-sufficiency, strengthen our economies, and reduce our dependence on the production of critical goods by companies operating from outside Africa.
The AfCFTA, therefore, offers a perfect opportunity for both Ghana and South Africa to lead the way in charting a new path for Africa’s economic integration especially through intra-Africa trade. It is against this background that under the leadership of H.E. Nana Addo Dankwa Akufo Addo, Ghana has provided enormous support to the AfCFTA Secretariat which has ensured smooth and successful operationalization of the AfCFTA Secretariat and its activities.
Ghana is currently implementing deliberate programmes of support to enhance the productive capacities of selected private sector operators to take full advantage of the market opportunities under the AfCFTA. It is therefore critical to underscore that this engagement between the Ghanaian and South African private sectors has come at the opportune time.
Excellences, Distinguished Colleagues, Ladies and Gentlemen
The Government of Ghana has since the assumption of office in 2017 focused attention on laying a strong foundation for economic transformation by restoring macroeconomic stability, stimulating the private sector through business regulatory reforms, and restructuring the financial sector to ensure easy access to finance. We also embarked on ambitious and transformative flagship programmes such as the One District One Factory (1D1F) Initiative and Planting for Food and Jobs programme aimed at repositioning the country to become the Manufacturing Hub for Africa.
We are empowering our private sector to focus on selected value chains including Industrial Starch, Textiles & Garments, Pharmaceuticals, Cashew, Horticultural Products, Fish & Fishery Products, Cocoa, Automobiles & Vehicles, Industrial Salt, and integrated aluminium and bauxite, among others.
It is our fervent belief that the private sector is the driver of our economic transformation agenda hence Government will continue to offer incentives such as tax rebate, import duty exemptions for the importation of capital goods, tax holidays, among others, to boost the competitiveness of local manufacturing companies that are adding value to our local raw materials.
In addition to offering tax incentives to boost industrial transformation, Government has established a strong and robust trade facilitation system, particularly at our Ports and borders of entry with the introduction of a new trade facilitation system that has simplified cross border trading. Using this new system, Ghana became one of the very first countries in Africa to establish its Customs Procedure Codes under AfCFTA. This ensures that our private sector operators can trade smoothly under the AfCFTA.
Excellencies, Distinguished Colleagues, Ladies and Gentlemen
In conclusion, it is my hope that this Business Forum and the conversations and dialogue that have taken place so far, will provide other opportunities for further collaboration and engagement between the Governments and the Private Sector of Ghana and South Africa.
Mr. President, Excellencies, Distinguished Invited Guests, with these remarks, I wish once again to welcome you warmly to this Business Forum.
Source:dailyghanaianguide
