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| Wednesday, 4 February 2004 |
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Lanka, Ghana should exploit trade and investment potential - CCC Secretary General With the expiration of quotas in 2004, the Sri Lankan garment industry has to establish new markets and Ghana being a Sub-Sahara country, which enjoys several concessions from the European and US Markets, could be a useful gateway for the Sri Lankan garment industry said Secretary General of the Ceylon Chamber of Commerce (CCC) Prema Cooray. Cooray said that apart from the conventional exports to Ghana, namely Black Tea and Garments, there could be much more new business opportunities. Sri Lanka and Ghana have not yet utilised their full potential of trade and investments. Recent trade statistics have shown a significant increase in exports to Ghana, but the imports have faded out gradually. Cooray said that Sri Lanka and Ghana should look at the possibilities of strengthening the travel and leisure industry, as there are plenty of new opportunities emerging in this area. Prof. Mike Oquaye, High Commissioner for Ghana said that Ghana, which was a British Colony has been fondly known as "the Gold Colony" as the country was blessed with an abundance of Gold. He said that gold, diamond, cocoa, bauxite, manganese, timber (Teak), fruits and vegetables have gained a reputation over a period of time as the traditional exports of Ghana. Ghana has established a name for its stable political environment, good governance and high literacy rate, which have been advantageous for them in attracting foreign trade and investments. The textile and clothing agreement between the US and Ghana has opened them a market, free of quotas and duties but at present Ghana cannot utilise this facility to its fullest potential, as they cannot meet the demand. Commending the high quality garments produced in Sri Lanka, he invited the Sri Lankan garment industry to utilise this opportunity, which would be mutually beneficial. On strengthening bi-lateral relations between Sri Lanka and Ghana, Oquaye said that Ghana is looking forward to establishing a consulate in Sri Lanka and requested the assistance of the CCC in this exercise. Inviting the CCC to organise a trade and investment mission to Ghana, Oquaye offered to accompany the delegation to Ghana and to assist in organising meeting with business counterparts. He said that apart from the new ventures in the garment industry, Ghana expects to excel in the areas of cotton, copper, aluminium and plywood trade and invited Sri Lankan buyers to explore the prospects in these areas as well. The meeting was organised at the request of High Commission for Ghana based in New Delhi, India to explore business opportunities between Ghana and Sri Lanka. |
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