Exporters Urged to Add Value to Exports

GHANAIAN EXPORTERS to Germany have been urged to add value to their exports in order to fetch higher prices and meet the high demand for Ghanaian products.

Going by European Union standards especially with agricultural products would also go a long way to improve the balance of trade between Ghana and Germany.

The Ghanaian Ambassador to Germany, H. E. Grant Ohemeng Kesse made these remarks when The Business Chronicle paid a visit to his office in Berlin in May.

"We have to adopt ourselves to the changes that is taking place in Europe especially with organic foods," he told this reporter.

Prof. Dr. Alfred Steinerr, Head of Department of Macro Analysis and Forecasting of the German Institute for Economic Research, the leading research institution in Germany, supported this assertion when he spoke to the Business Chronicle.

He said because African countries have similar production line, their economies are prone to shocks at the international markets when prices collapse.

The don explained that processing raw material would be a better option.

He was not happy about European Union's market restrictions on agriculture products from Africa.

Ghana and Germany have had an excellent trading relationship for decades. Total trade for 2005 was worth US$365.83 million. However, Ghana has been recording negative trade balance over the last decade. The country had a trade deficit of US$232.31 million in 2005.

Also, German investments into Ghana have been increasing over time.

As at the end of 2006, 118 German investment projects had been registered.

Ghana's exports include cocoa beans, cocoa butter, timber and timber products, rubber, coffee, palm oil, fresh fruits, vegetable, copper waste and scraps.

Ghana's imports are machinery and transport equipment, chemicals, pharmaceutical products, frozen meat, dairy products, prepared cereals and milk products.

Ghana's Ambassador urged German investors to invest in Ghana for very high returns.

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