Accra: A Senior Policy Advisor for Fiscal Management at the Ministry of Finance, Dr. Samuel Nii Noi Ashong, has outlined a strategic roadmap to enhance Ghana's export competitiveness and reduce its trade deficit with China. According to him, Ghana's greatest opportunities lie in industrial value-addition, particularly through the local processing of raw materials such as cocoa into finished goods.
According to Ghana Web, Dr. Ashong shared his insights at a forum organized by the Ghana-China Friendship Association (GHACHIFA) with the theme 'Dialogue on China-Africa Zero Tariff'. He emphasized that standardization and certification are essential for meeting Chinese quality requirements. Dr. Ashong further proposed the establishment of agro-processing zones equipped with modern logistics and cold storage systems, alongside targeted foreign direct investment (FDI) to encourage Chinese participation in manufacturing and technology transfer.
He explained that Ghana can take advantage of China's non-reciprocal 100% zero-tariff initiative, which takes effect on May 1, by shifting from raw material exports to value-added agro-processing, upgrading logistics, and strengthening Ghana's quality standards to align with China's. This shift, he noted, would support industrialization, boost high-value exports, and help reduce the trade deficit.
Dr. Ashong also highlighted the importance of addressing non-tariff barriers, including poor logistics and limited customs capacity. He stressed the need for inclusive growth through policies that promote gender equity and SME participation, ensuring that the benefits of enhanced trade relations with China are widely shared across Ghana's economy.