News | Ghana spends $1.1 billion on rice importation – Deputy Trade Minister reveals

Ghana spends $1.1 billion on rice importation – Deputy Trade Minister reveals

Popular Articles

Business News of Friday, 9 November 2018

Source: www.ghanaweb.com

Landsey 9play videoRobert Ahomka Lindsay, Deputy Minister of Trade and Industry

The Deputy Minister of Trade and Industry, Robert Ahomka Lindsay has disclosed that Ghana imported rice worth $1.1 billion in 2017.

According to him, rice importation “takes 82% of all imports into the country”.

Mr. Lindsay said, the leading product imported into Ghana every year from Vietnam is rice, which is by far the largest contributor to the import quota.

The Deputy Minister indicated, “We spent $1.1 billion last year on rice importation to Ghana”.

He strongly believe it is about time Ghana added value to its raw materials for exports in order to gain more from the resources of the country.

“This government’s focus and direction is on industrial transformation thus transforming our economy, the same transformation Vietnam went through some years ago led by its SME,” he said.

He said, Vietnam has managed to move from being a huge importer of rice to the largest or the second largest exporter of rice in the world making its economy the “Asian tiger” and that is what Ghana seeks to achieve.

“We can partner with Vietnam and by the same or similar model, Ghana’s economy will also become the African tiger” he noted.

The minister stressed the importance of exporting refined products to the Ghanaian economy saying, “In 2017 Ghana recorded a trade surplus of US$52.3 million with a total exports value of US$320.6 million, this is according to the Vietnam customs”.

He said, with the right support and determination the Ghanaian economy can be transformed.

The Deputy Minister was speaking at the Ghana-Vietnam trade and investment promotion forum held in Accra.

View All

MOST WATCHED NEWS VIDEOS

By Genny Smith 09/11/2018 09:51:00