TRALAC - Trade Law Centre

US-Ghana trade deepens as 2019 local AGOA Expo ends

Wednesday, 11 December 2019 Published: | Charles Ayitey

Source: JoyBusiness

The Ghana Chamber of Commerce and Industry (GNCCI) has ended its Africa Growth Opportunity Act (AGOA) trade Expo with a high-powered business to business meeting which saw over 50 African American businesses strike business deals with Ghanaian businesses partaking of the event. 

President of the Chamber, Dr Nana Appiagyei Dankawoso 1 was confident “the engagement will expand business opportunities in Ghana in 2020”.

“This B2B session has been a high-powered one. With the calibre of American businesses come on board we are confident this will emanate to deep investments in Ghana’s various economic sectors. With the various sessions Ghanaian businesses have gone through, it is very clear they are all geared up for great business engagements in the American market,” he remarked.

Meanwhile, the Consulate General of Ghana in New York, USA, Professor Emeritus Samuel Amoako called on Ghanaian business to consider partnering so as to take on huge business deals they may not handle independently. 

He said, “Associations and mergers are very key to taking on huge business deals. They can’t do it all by themselves. The opportunities from the US market are huge hence the need to join forces to deepen trade volumes”.

The opening workshop, attended by representatives from the US Food and Drugs Authority, participants among others saw the issue of labelling dominate the products of Ghanaian entrepreneurs.

Former Senior Public Affairs Specialist with the US Foods and Drugs Administration – Dr Dilcia Granville, lamented “the huge disconnect between quality and labelling which has seen many products from Ghana restricted to the USA alone.”

She admonished participants to be wary of venturing to the US market without knowing the rules and regulations involved.

“Many countries do not have laws like the FDA to make sure products are well labelled. We check little things as the bacteria, calorie content. We are working with different countries to see if food regulations are compatible with the US. When they are compatible, we then sign MoUs with them. That’s why it’s best to work with the Chamber of Commerce in Ghana for example,” she explained.

Also, Regional Director, Eastern Region Export-Import Bank of the United States, Richard Foy explained that the US government is very engaged with Ghana and other African countries for the financing of machinery especially as most of them move in to industrialize.

The President of the Ghana National Chamber of Commerce, Nana Dr Appiagyei Dankawoso I, led the delegation comprising business visitors and trade exhibitors and present investment and business opportunities under AGOA in Ghana.

The AGOA Expo is a cultural and business platform aimed at celebrating US-African cooperation, strengthening bilateral trade relations, promoting AGOA key export products and investment opportunities.

There would be a number of activities including African Beverages and Food Show, African Apparel, Textiles and Footwear Exhibition, AGOA Apparel Fashion Week, Exhibition of Leather and African Cosmetics, African Music and Urban Dances, AGOA Festival Workshops and Networking.

The participants for this event are the United States, AGOA eligible countries including Ghana, Nigeria, South Africa, and Kenya among others.

The AGOA Festival is a cultural and business platform committed to celebrating the US – Africa cooperation, strengthen bilateral trade relations, promote AGOA Key Export Products and Investment Opportunities through African Growth & Opportunity Act (AGOA).

It is also a great opportunity for American Companies to explore sourcing opportunities in Africa, expand their business or introduce new products, services in the African Countries AGOA eligible with direct access to Authorities and Business Leaders.

A wide variety of activities are organized periodically in US Cities to boost African exports products and take advantage of the AGOA legislation with new partnerships and joint ventures.

 

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