Washington, D.C. –
U.S. and Ghanaian trade and
development officials met today to review progress in deepening their
partnership on trade and investment issues. This was the fifth meeting of
the United States-Ghana Trade and Investment Council since this forum for
senior-level discussions was created in 1999.
Deputy United States Trade Representative John K. Veroneau led the U.S.
delegation in which 16 U.S. Government agencies participated. Deputy
Minister of Trade and Industry Gifty Konadu led the Ghanaian delegation.
U.S. Ambassador to Ghana Pamela Bridgewater and Ghanaian Ambassador to the
United States Kwame Bawuah-Edusei also participated in the
meeting.
“Ghana is one of our most
important trading partners in Africa and is
also among the leading economic reformers in the region,” said Ambassador
Veroneau. “The meeting provided an opportunity for us to discuss a broad
range of issues, including steps to further expand and diversify the U.S.-Ghana
trade and economic relationship.”
The Trade and Investment Council, established pursuant to the United
States-Ghana Trade and Investment Framework Agreement (TIFA), monitors trade and
investment relations and facilitates an ongoing dialogue to help increase
commercial and investment opportunities by identifying and working to remove
impediments to trade and investment flows between the United States and Ghana.
During today’s meeting, officials from the United States and Ghana
explored several common objectives, including cooperation in the World Trade
Organization, implementation of the African Growth and Opportunity Act (AGOA),
export diversification, intellectual property protection and enforcement, trade
capacity building and technical assistance, and infrastructure issues.
Background:
Two-way trade between the United
States and Ghana was valued at $572 million in
the first eleven months of 2007, a 31 percent increase over the same period in
2006. U.S. exports to
Ghana during this period were
valued at $385 million, increasing 44 percent, and U.S. imports from Ghana
were valued at $187 million, increasing by 11 percent. Of the latter,
imports from Ghana under AGOA and the Generalized System of Preferences totaled
$66.5 million, an increase of 53 percent, and included petroleum, apparel, yams,
cassava, cocoa paste, and wood ornaments. In the first eleven months of
2007, over 99 percent of imports from Ghana entered the United
States duty-free. In July 2007,
Ghana hosted the Sixth
U.S.-Sub-Saharan Africa Trade and Economic Cooperation Forum, also known as “The
AGOA Forum.”
The United
States has signed TIFAs with countries
throughout the world in order to enhance trade ties and improve coordination on
multilateral issues through regular senior level discussions on trade and
economic issues.
# # #
