Business
Ghana projected to earn over $3.3 billion in exports in 2013
The Ghana Export Promotion Authority has rolled out a geographical mapping of companies to create a database for a national product trace-ability system, as the country hopes to rake in about US$3.3 billion from its exports this year.
The Geographic Information System (GIS) will create a database for exporters in food and agro processing products, which will enable Ghana to avoid the risk of having its exports to the European Union (EU) markets reduced.
The EU Commission’s decree on the General Food Law, which became effective in 2005, requires that all exports be documented so that their history and location could be readily verified to remove dangerous products from the market. In the first quarter of 2012 the GEPA was able to hit US$1.387 billion out of its targeted US$2.446 billion for 2012.
While the he Ghana Export Promotion Authority looks forward to integrating service export to its portfolio, the need for export promotion instruments would remain a key factor since it is a substantial factor to economic success.
Ghana’s major export destination is the EU.
In 2011 the country realized US$499,054,914 from exports to the EU, representing 38 percent of total export earnings.
With the needed support, the acting chief executive officer of the Ghana Export Promotion Authority, Stephen Normeshie on Wednesday said Ghana could attain its target of US$3.308 billion revenue for the 2013 financial year.
