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18.11.2004 Business & Finance

Non-traditional exports to hit $600m this year

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Accra, Nov. 18, GNA - Earnings from non-traditional exports (NTEs) would reach 600 million dollars by the end of this year from 589 million dollars in 2003, Mr Alan Kyeremanten, Minister of Trade, Industry and PSI, said on Thursday.

The Minister was speaking at the 15th National Awards for Exports Achievement in Accra where various companies received platinum, gold and silver awards and certificates of recognition for their work in the NTEs Sector last year.

Mr Kyerematen said the government had over the last four years succeeded in maintaining a relatively stable cedi that had ensured reliability in planning by investors and businessmen.

This and the significant reduction of inflation and interest rates had created a favourable climate for business, he said. The Minister mentioned market access and access to credit as some challenges facing the Sector.

He said government was facilitating the creation of export-oriented companies in all the 138 districts in its efforts to create more jobs and diversify the country's export base.

He said the Ministry also launched the establishment of three export trade houses that were aimed at promoting made-in-Ghana goods abroad.

Mr Edward Collins Boateng, Executive Secretary of the Ghana Export Promotion Council, said in 2003 the council implemented a number of programmes to facilitate product development, market access, packaging and labelling of export products and human resource development programmes for exporters.

He said as part of efforts to grow Ghana's share of the ECOWAS market a number of local companies participated in trade fairs outside the country, especially in the sub-region.

Samartex Timber and Plywood Company Limited, a Takoradi-based company, was adjudged the exporter of the year. Cocoa Processing Company received a platinum award. 18 Nov. 04

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