Strategy for achieving US$25.3 billion by 2029 under NEDS outlined

The Ghana Export Promotion Authority has outlined an integrated list of 17 existing high performing and industrial priority products that could catapult the projected Non-Traditional Export (NTEs) revenue from the current total earnings of US$2.9 billion to US$25.3 billion by 2029.

The move forms part of strategic efforts under the ambitious National Export Development Strategy (NEDS) being implemented by the Authority and key stakeholders that also seeks to energize the private sector to take optimum advantage of the Africa Continental Free Trade Area (AfCFTA).

In effect, the NEDS has adopted a priority products selection approach for concentrating resources on a limited number of products for development and marketing.

“The focus of NEDS is an Integrated list of 17 Priority Products generated by merging two categories of priority products, selected according to specific criteria”, according to excerpts of information released by the Authority recently.

The 17 existing high performing and industrial products include processed cashew, horticultural products, processed oil seeds, textiles and garments and Articles of Plastic.

The rest are pharmaceutical products, iron and steel products, automobiles vehicles, industrial salt, machinery and Components, among few others.

The Authority has designed three strategic pillars in achieving the focus of NEDS.

Whiles pillar one deals with the need to expand and diversify the supply base for value added industrial export products and services, pillar two focuses on improving the business regulatory environment for export, as the third pillar hinges on building and expanding the required human capital for industrial export development and marketing.

“Pillar III will be implemented through a vigorous practical human capital development programme of the Ghana Export School, decentralized to the regions and districts to enable participation of adequate number of educated young men and women and people with disabilities to be empowered to become astute export businessmen and women to drive the national export effort”.

“It is expected that every district will endeavour to develop at least one significant export value chain with which it can be identified”, GEPA report states.

Background

The NEDS has been formulated to implement the 10-Point Agenda, complementing it with an export dimension. The strategy seeks to build synergies with government’s flagship programmes, such as 1 District 1 Factory, Planting for Food and Jobs, Planting for Export and Rural Development to ensure that products emanating from companies operating under these programmes are competitive and marketable in the local and foreign markets.

Source: Goldstree Business