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23.07.2004 Business & Finance

Trade Minister leads business delegation to Sri Lanka

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Accra, July 23, GNA - Mr Alan Kyerematen, Minister of Trade, Industry and President's Special Initiatives, is leading an 11-member Ghanaian business delegation to Sri Lanka to explore business opportunities in the garment industry in that country.

The delegation includes nine Ghanaian textiles and garment manufacturers, a press statement issued from the Ministry and signed by Mr Kodua Edjekumhene, Public Relations Officer, on Friday said. The main objective of the delegation is to undertake a study of the operations of Sri Lankan garment factories, as well as the general business environment, with regard to the garment export trade. The delegation would seek opportunities for joint ventures with Sri Lankan entrepreneurs.

Efforts would also be made on this trip to recruit critical managerial and supervisory personnel, to assist in the garment industry in Ghana, in order to meet the challenges of the export market, especially under the Africa Growth and Opportunities Act (AGOA), where strict adherence to supply response and specifications are critical factors.

Sri Lanka is one of the leading garment export countries in the world; with over 2.5 billion dollars annual export revenue. The business trip would contribute significantly to the full realisation of the opportunities under the President's Special Initiatives, and would translate into jobs for the youth, who are currently being trained by the Textiles and Garments Training Centre in Accra.

The delegation would be away for one week.

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