U.S. contributes $10 million to Ghana's agriculture sectorStaff writer ▼ | July 1, 2016
The U.S. has implemented a project, involving a $10 million investment, to help Ghana's agricultural sector to meet international standards and guidelines for its produce.
Helping Africa Part of the Trade Africa Initiative
The initiative is part of the Trade Africa Initiative which, among other things, is designed to build partnerships between the United States and sub-Saharan Africa to increase internal and regional trade within Africa.
It comes at a time Ghana’s vegetable exports to the European market have been banned because they do not meet the required international standards.
In a speech, which focused on a number of US investments in Ghana, Ghana’s 2016 elections, corruption and bilateral trade between Ghana and the United States, Ambassador Jackson urged Ghanaian companies to take advantage of the African Growth and Opportunities Act (AGOA).
The American government signed AGOA into law in May 2000, and since then it has become one of the pillars of trade between Africa and the US. It gives preferential market access for over 6,000 products from 39 sub-Saharan African nations with liberal access to the US market.
The US renewed the 15-year-old law that allows made-in-Africa goods to enter the American market duty-free. It was renewed in June last year for another 10 years.
The new agreement has, however, been amended to allow the US to withdraw, suspend or limit benefits if designated AGOA countries do not comply with its eligibility criteria.
Although AGOA has helped to increase trade between Ghana and the US the country still failed to make maximum use of the agreement, according to Ministry of Trade observations. ■