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22.06.2005 Business & Finance

Need for joint ventures in jute production - JAK


Accra, June 22, GNA - President John Agyekum Kufuor on Wednesday stressed the need for entrepreneurs in Ghana and Bangladesh to promote joint ventures in jute production for Ghana's cocoa industry. He said Ghana's economy depended mostly on the cocoa industry, which imported most of the jute bags from Bangladesh for cocoa production and therefore, such a venture would boost the production of jute bags as well as cocoa.

President Kufuor made the call when Major General Syeed Ahmed, Bangladesh High Commissioner in Ghana based in Nairobi, Kenya presented his Letters of Credence to him at the Castle, Osu. He said Ghana and Bangladesh shared a lot in historical ties both being colonies of Britain and improvement in relationship between them was a challenge, adding " improvement in relations between us is a challenge but count on the government to facilitate your work".

President Kufuor said exchange programmes in other sectors such as education, trade and industry and agriculture would also be pursued for the mutual benefit of the two countries.

Major General Ahmed said Ghana could not only benefit from the production of jute bags but other sectors as well such as the textile industry through the establishment of a garment factory in Ghana under the African Growth and Opportunities Act (AGOA). He said Bangladesh exported pharmaceutical products to the Middle East, Europe and East Africa and Ghana could become the nerve centre for Bangladesh manufactured goods in the West African Sub-Region. Major General Ahmed said Ghana could also take advantage of the micro credit and micro financing activities that Bangladesh had excelled in to improve the living standards of Ghanaians because many African countries such as Uganda had sent delegations to learn from Bangladesh.