Minister of Trade and Industry, Mr Alan Kyerematen and the United States (US) Ambassador to Ghana, Virginia E. Palmer have met to discuss the US’ support for some of government’s projects.
The team discussed the Millennium
Challenge Corporation (MCC) Regional Compact support for
Ghana’s Industrial Parks, the One District One Factory (1D1F)
initiative and US EXIM Equipment financing credit facility, utilizing the
African Growth and Opportunity Act (AGOA) and the African
Continental Free Trade Area (AfCFTA).
Mr Kyerematen tweeted on Saturday August 20
after the engagements that “I welcomed US Amb. to Ghana Virginia E. Palmer,
& her team to discuss Millennium
Challenge Corporation’s Regional Compact support for Ghana’s
Industrial Parks, 1D1F Initiative & US EXIM Equipment financing credit
facility, utilizing AGOA & #AfCFTA Future is bright for
Ghana-U.S.”
The United States is among Ghana’s principal
trading partners, with bilateral trade between the two countries reaching $1.2
billion in 2015. While Ghana has experienced strong economic growth over the
past 10 years, the power sector has not kept up with increasing demand from
businesses and consumers, holding back Ghana’s potential for private
investment.
In June 2021, MCC and the Government of Ghana
amended the compact to mitigate implementation delays due to the COVID-19
pandemic.
By Laud Nartey|3news.com|Ghana