Ghana to establish three Garment factories Next Year to boost AGOA Benefits – Trade Minister

Ghana is preparing to establish three garment factories next year as part of efforts to maximise opportunities under the extended African Growth and Opportunity Act (AGOA) and strengthen the country’s export capacity.

The Minister for Trade, Agribusiness and Industry, Mrs Elizabeth Ofosu-Adjare, disclosed this during a meeting with the outgoing Chargé d’Affaires of the United States Embassy in Ghana, Mr Rolf Olson, in Accra.

She said the planned factories formed part of the government’s broader industrialisation agenda aimed at promoting local manufacturing, increasing value addition and creating employment opportunities.

Mrs Ofosu-Adjare said the Ministry was also prioritising investments in pharmaceuticals, component manufacturing and agribusiness to diversify the country’s productive base and enhance its competitiveness in international markets.

She described the extension of AGOA as a significant opportunity for Ghana to expand its exports to the United States, particularly in the garment and textile industry.

The Minister said Ghana was committed to working with its American partners to take full advantage of the trade arrangement and position local industries to benefit from increased access to the US market.

Mr Olson’s successor, Mr Faris Y. Asad, focused on strengthening bilateral trade relations and identifying investment opportunities between Ghana and the United States.

Mr Olson, however, raised concerns regarding Ghana’s AGOA eligibility, particularly issues relating to access for US companies, government procurement processes and trade barriers.

He proposed sustained engagement through a working group to address the concerns and identify areas where the United States could provide technical assistance and capacity-building support.

The proposed engagement, he said, would help address outstanding trade-related issues and deepen economic cooperation between the two countries.

Mr Olson expressed appreciation for the cooperation extended to him during his tenure and reaffirmed the importance of maintaining strong bilateral relations.

The introduction of his successor, Mr Asad, is expected to support continuity in diplomatic and economic engagements between Ghana and the United States, particularly in trade, investment and industrial development.

Judith Twumwaa, ISD