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23.02.2006 Business & Finance

Italian Trade delegation calls on Minister

By GNA

Accra, Feb. 23, GNA - Mr Alan Kyeremanten, Minister of Trade and Industry, on Thursday said Ghana was now aggressively attracting inward investment to promote and enhance performances of its domestic industries and further enhance its export drive for more foreign exchange.

He said there were enormous opportunities for foreign investors to harness and mentioned areas including the agro-industry, general manufacturing, production of machinery, textiles and garment, tourism, food processing and construction.

Mr Kyeremanten, in an interactive meeting with an Italian Trade Delegation that paid a courtesy call on him, said to prevent over-reliance on foreign industries and imported products there was the need to capitalise on current global technology to expand production. The delegation, which is participating in the ongoing 10th Ghana International Trade Fair is from the provinces of Emilia-Romagna and Modena in Italy and led by Mr Dott Sabattini, President of the Province of Modena and the Italian Ambassador, Mr Fabrizio De Agostini. Mr Kyeremanten urged Italian investors to consider the local manufacturing of machinery and other technological inputs for local industries to help to cut down the cost of importation of such items. He noted that though there were a number of Italian investors and businessmen in the country there was still an open market for more trading and development for both countries to benefit. The Minister said plans were far advanced for the establishment of a local factory in each of the 138 administrative districts of the country, adding that currently a new tomato-processing factory situated in the Northern Region would start operation by the end of April 2006. He said Ghana had a strong relationship with Italy and would want to further strengthen it through expanded inter-trade exchange and investment programmes.

Mr Thomas MaCarthy, President of a Model Project named GHANACOOP-Italy and GHANITAL-Ghana, a co-operative of Ghanaian immigrants in Italy, said great efforts were being made to develop the Ghanaian community and ensure their virtual return to their homeland.

"This means that Ghanaian migrants in Italy would be made the protagonists of social and economic development of their own country," he said.

He explained that the co-operative group comprising Ghanaian entrepreneurs living in the two provinces in Italy had been championing causes for the implementation of economic, cultural and social activities and further ensure development of the Ghanaian community in Italy.

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