[ 2014-09-02 ]

Ghana and Turkey in negotiations for free trade
Izmir (Turkey), GNA - Ghana is in discussions with
the Turkish Authorities for a free trade agreement
to ensure unimpeded access to each other’s
market.

Dr John-Hawkins Asiedu, Minister Counsellor and
Commercial at Ghana Embassy in Turkey, said while
some of the agreement would be immediate, others
would be from five to 10 years.

Already, Ghana Standard Authority and Ghana Free
Zones Board had signed a Memorandum of
Understanding with counterpart agencies in Turkey
to help in capacity building to improve on their
partnership.

Dr Asiedu was speaking to journalists on the
sidelines of the 83rd Izmir International Fair in
Turkey, aimed at offering businesses and investors
across the globe the opportunity to market their
products to the international business community,
especially those from Asia and Europe.

Ghana Export Promotion Authority (GEPA) has
facilitated the participation of 14 Ghanaian
exhibitors in the Izmir International Fair, which
ran from August 29 to September, 2.

Turkey is the 24th largest supplier of imports to
Ghana. In 2013, the country supplied imports worth
$150.2 million, representing about 1.3 per cent of
total imports.

Ghana on the other hand exported goods worth $87.7
million to Turkey, accounting for 0.75 per cent of
total exports.

Dr Asiedu said Ghana’s exports to Turkey were
dominated by gold and cocoa beans, which accounted
for 97 per cent of exports in 2013.

“A large proportion of imports from Turkey are
construction materials such as cement clinkers,
quicklime, iron and steel bars and rods,” he
added.

Dr Asiedu said the imports of such products
reached a substantial amount of $134.7 million in
2012, but fell to $69.6 million in 2013.

He said despite the large fall in key imports in
2013, exports of gold and cocoa, fell even further
by $135.1 million, causing a large current account
deficit of $62.5 million in trade with Turkey in
2013.

He said in 2013, exports of cocoa beans amounted
to $54.9 million while gold netted $30.4 million.

He mentioned that Ghana exported small quantities
of non-traditional exports to Turkey, indicating
that in 2013, the country exported pineapples to
Turkey for the first time.

The companies were drawn from the pharmaceutical,
food and beverages and the cosmetics industries of
the economy.

The Izmir Fair is one of the oldest trade shows in
Turkey and is considered the cradle of Turkey’s
fair and exhibition industry.

It is characterised as a multi-product exhibition
and therefore displays a wide-range of products
and services.

The participating Ghanaian companies include
Alagie and Fati's Company, Daysah Ventures, Pure
Company, Krypton Global, HPW Fresh and Dry, Alpha
Samuelson Enterprise, Paku Enterprise, Yenok
Limited, Chocho Industries and Veronica Ayando
Enterprise.

From Morkporkpor Anku, GNA Special Correspondent
in Turkey

(Courtesy: Ghana Export Promotion Authority)

Source - GNA

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