Ghana Enhance its Position as a Trade and Investment Gateway for West Africa
ACCRA, Ghana, 5 September 2008: Ghanas position as a trade and investment hub (knudepunkt) in West Africa was greatly strengthened Thursday with the unveiling by Vice President Alhaji Alui Mahama and visiting World Bank President Robert Zoellick of a new refrigerated terminal for fruit and vegetable exports at the port of Tema.
Mr. Zoellick underscored the need for countries such as Ghana to diversify their agricultural exports and seek new opportunities provided by high value exports to world supermarkets.
He said Ghana could take advantage of higher food prices to expand its production and export.
Mr. Zoellick stopped at the starting point of the rehabilitated regional road to Burkina Faso, Mali and Niger, which is a multi-donor supported endeavor whose special features include a Bank-financed, public-privately operated, automated customs services and transit cargo electronic tracking system.
The Tema – Bamako road rehabilitation project, which involved seven donors and is considered best practice in donor harmonization efforts, has resulted in the reduction of travel time by 20 percent, significantly improved road conditions, and reduced the number of road accident fatalities by 20 percent.
In recent years Ghana has been rated a star performer in Africa and continues to strive for private sector-led, accelerated growth as the primary mechanism to reduce poverty. Export-led growth objectives are being pursued through, among other reforms, a modern trade facilitation regime.
The visit to the Tema Port sought to illustrate the centrality of the African private sector to its development, the job-creating potential of its agricultural industry, and the importance of regional infrastructure and markets.
The World Bank Group has supported this effort through initiatives to:
– improve the business environment,
– support the growth of commercial agriculture
– reform and strengthening the trade facilitation regime
– modernize port services,
– improve the regional transport infrastructure
– strengthen Ghanas financial services; and
– develop the financial sector to support trade and infrastructure investment
Kilde: www.worldbank.org
