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| Ghana certified to export textiles to the US under AGOA
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Accra, Ghana (PANA) -
Ghana's certification to export textiles
to the US under the African Growth Opportunity Act (AGOA)
marked the beginning of the bond of "lucrative" relationship
between both countries in the sector, a Secretary of State
official said in Accra Thursday.
Assistant Secretary of State for African Affairs, Walter H.
Kansteiner III made the comment when he presented Ghana's
certificate to Akwasi Osei-Adjei, deputy minister of Trade and
Industry, at a brief ceremony in Accra.
The presentation was made after Kansteiner, accompanied by
Peter Watson, president and Chief Executive Officer of the
Overseas Private Investment Corporation (OPIC) and Nancy Jo
Powell, US Ambassador in Ghana, paid a courtesy call on
President John Agyekum Kufuor.
Ghana is one of 11 African countries to achieve the textile
certification under AGOA, and the first in West Africa.
Under AGOA, 35 African countries, including Ghana, could enjoy
duty-free and quota-free trade status on virtually all exports
to the US.
In the case of textiles, each country must undergo an
additional certification process to guarantee that the textiles
were made in Africa.
Kansteiner and Watson are leading a delegation of managers from
six private equity investment fund to Ghana, South Africa and
Kenya to identify foreign direct investment opportunities.
They are Zephyr Management, Modern Africa Fund Managers,
Emerging Markets Partnership, African Fund Emerging Markets,
Millennium Fund and ERL Services.
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| Accra - 11/04/2002 |
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