Ghana-China Zero Tariff deal to boost exports and jobs – Economist
A Senior Economist at the Centre for Greater Impact Africa, Dr Samuel Worlanyo Mensah, has said the Ghana-China Zero Tariff Deal will boost exports, create jobs, and expand Ghana’s economy.
He explained that, as production scales up due to the deal, tax revenues are expected to rise, providing the government with greater resources to invest in infrastructure.
Speaking on Business Breakfast on Zed, Dr Mensah raised concerns over the readiness of Ghanaian businesses to capitalise on the deal’s potential, calling for improved public awareness campaigns among stakeholders to fully benefit from the China-Africa trade agreement.
“If this deal comes, it will force producers and exporters to get into the large Chinese market and they will have to produce on a large scale. That will result in employing more people and paying taxes, which improves government revenue,” he said.
Dr Mensah also highlighted the need for enhanced standards and certifications of Ghanaian goods to meet Chinese market requirements and maximise value. He urged the government to invest significantly in logistics and infrastructure to support the anticipated rise in exports due to the zero-tariff deal.
Regarding employment opportunities, the Economist stated that several sectors could expand to meet growing demand. The cotton sector could see increased production and value addition.
“Cocoa, shea butter, and cassava, especially for beverages targeting Chinese markets, offer expansion potential. Commercial farming and agri-processing for vegetables and fruits are also on the table to diversify and strengthen food markets,” he stated.
Additionally, Dr Mensah revealed that there is consideration of developing the petrochemical industry, with potential investment from Chinese partners to establish domestic production of engine oils and related products.
He argued that these steps could transform the economy into an industrial and manufacturing powerhouse, delivering higher wages and broader opportunities for citizens.
The Economist rallied Ghanaians to support the deal, as it represents a chain of opportunities aimed at boosting employment, expanding tax revenues, elevating the standard of living, and creating a more competitive economy on the global stage.
