The Minister of Trade and Agribusiness, Mrs Elizabeth Ofosu-Adjare, has called for the renewal of the African Growth and Opportunity Act (AGOA) due to expire in September this year.
She said AGOA played a significant role in attracting significant United States (U.S) investments, particularly in Ghana’s thriving garment and textile sector.
Mrs Ofosu-Adjare made the call on Thursday during an engagement with senior officials from the United States Department of Commerce in Washington, D.C.
The engagement forms part of efforts to deepen economic and trade cooperation between the two countries.
The meeting also marked an important step in Ghana’s broader efforts to re-engage global partners and reinforce the country’s commitment to trade diplomacy, economic cooperation and investment promotion.
The meeting comes against the backdrop of the United States’ “America First” Trade Policy and subsequent imposition of a blanket 10 per cent Tariff on shipments from several countries, including Ghanaian exports.
Describing AGOA as a “win-win” arrangement, Mrs Ofosu-Adjare emphasised that the agreement had benefited both Ghana and the United States as it provided duty-free access to the American market for over 30 African countries, promoting economic growth, and improving U.S.-Africa economic relations.
To this end, she said there was the need for the two countries to continue to engage in trade policy to impact both economies.
She reaffirmed Ghana’s commitment to strengthening bilateral relations with the United States of America.
On local content policy, Mrs Ofosu-Adjare said the impact of Ghana’s local content regulations on U.S. mining companies operating in the country was reviewed.
Both sides agreed on the need for constructive dialogue to balance national development goals with investor interests.
On import regulations, concerns surrounding the importation of excavators and over-aged vehicles from the U.S. into Ghana were raised, with emphasis on developing regulatory clarity and enhancing standards compliance.
Touching on outstanding debts to U.S. companies and businesses, the Minister assured the U.S. officials that the Ministry of Finance was actively addressing the issue and working towards a timely resolution.
Also discussed at the meeting was Trade and Investment Framework Agreement (TIFA) which included calls to resume dialogue under the TIFA platform to revitalise structured trade and investment relations between the two countries.
As a follow-up to the discussions, Mrs Ofosu-Adjare is scheduled to meet with the Office of the United States Trade Representative (USTR) in the coming weeks to continue bilateral consultations on trade and economic issues of mutual interest.
The U.S. delegation acknowledged Ghana’s proactive steps in initiating dialogue and expressed the willingness to work collaboratively on shared priorities.
Mrs Ofosu-Adjare was accompanied by Mrs Jane Gasu Aheto, the Acting Head of Mission, Dr Mary Awusi, Chief Executive Officer, Ghana Free Zones Authority and Mr Abdul Razak, Deputy Chief Executive Officer, Ghana Investment Promotion Centre.
The U.S. was represented by Mr Thomas Bruns, Deputy Assistant Secretary for the Middle East and Africa and Mr Giancarlo Cavallo, Acting Director/Designated Federal Officer for President’s Advisory Council on Doing Business in Africa (PAC-DBIA)
BY MALIK SULLEMANA
