Dr. Lloyd Amoah, Acting Director, Centre for European Studies
The Centre for European Studies (CES), University of Ghana has held its 9th Lecture Series on the theme “Trade and Economic Relations in Europe: Challenges and Opportunities for Ghana”.
Dr. Charles Ackah, Senior Research Fellow, ISSER
Delivering the lecture, Dr. Charles Ackah, Senior Research Fellow, Institute of Statistical, Social and Economic Research noted that the trade relation between Africa and the European Union was the world’s biggest free trade area, with the United Kingdom being the world’s fifth largest economy generating trade flow of around USD$1.6 trillion. He therefore, urged African countries, particularly Ghana, to consider developing stronger trade policies to tap into the gap.
Dr. Ackah said, Ghana exports three main commodities; petroleum, cocoa, and gold which constitute 80 per cent of commodities exported mainly to Europe. He called for diversification of trade to avoid unfavourable consequences and recommended to the government to introduce long-term trade policies for the establishment of industries that will stand the test of time. He added that, Ghana must move beyond exporting raw materials such as cocoa, gold and petroleum to adding value to them in order to create jobs and also determine prices for finished products.
Dr. Ackah disclosed that foreign investment in Ghana was not appreciating due to the costly nature of conducting business in Ghana and consequently called for a change.
In his closing remarks, Dr. Lloyd Amoah, Acting Director, Centre for European Studies, called on participants, especially students to take into consideration issues raised to help them in their chosen fields to enhance development in Ghana.
Dr. Hassan Wahab, Senior Lecturer, Department of Political Science
The event which was chaired by Dr. Hassan Wahab, Senior Lecturer, Department of Political Science, was graced by faculty members and students.
A photograph of audience at the lecture
