We will add value to raw materials to improve Trade Balance -Trade Minister designate

Elizabeth Ofosu-Adjare, the Minister-Designate for Trade, Agribusiness, and Industry, has committed to improving Ghana’s balance of trade through value addition if approved by Parliament.

Speaking at her vetting on January 22, 2025, she emphasized the importance of processing raw materials locally to address foreign exchange challenges and reduce import dependency.

Ofosu-Adjare highlighted the 24-Hour Economy Policy as a catalyst for industrial growth, noting that contract commercial farming would ensure the availability of raw materials domestically.

She underscored the potential of value addition to increase foreign earnings and generate youth employment, targeting traditional commodities and agribusiness for transformation.

Ghana recorded a $542.07 million trade surplus in October 2024, with key exports like gold, cocoa, and timber driving performance. Major trading partners include the Netherlands, South Africa, and the UK.