The bilateral agreements were established to position Ghana as the gateway for trade to West Africa while Kenya will help in accessing the East African region.
Briefing the media, Ghana’s acting High Commissioner to Kenya, Mr. Nuku Kamsa-Quarshie, said the expo will boost intra-African trade by enabling businessmen explore trade opportunities in the two countries.
Kamsa-Quarshie said Kenyan’s manufacturers have prime opportunity to explore business in Ghana initiatives like free zones and building of one factory in every district, which are meant to enable manufacturers from outside to set-up profitable ventures.
“Ghana is now embracing private-sector-driven tertiary education with a surge of private universities having come up in the last four to five years. However, there is no tertiary institute for the hospitality Industry which causes a great gap when it comes to tourism development. Ghana is ideally placed to become a hub for hospitality training in West Africa just as Kenya is for East Africa,” said Kamsa-Quarshie.
According to the Ghana Investment Promotion Centre, between 1994 and 2015, Kenya companies in the country invested 41% in manufacturing 27% in services, 18% in general trading, 9% in building and construction and 5% in the agriculture sector.
The founder of the Kenya Trade Expo Ghana, Ms Leah Nduati Lee, said the event will help link businesses between Ghana and Kenya directly, resulting in tangible and measurable intra-Africa trade.
Ms Lee said Kenyans and Ghanaians can profitably engage in knowledge sharing, joint ventures and partnerships.
“Ghana and Kenya are uniquely positioned to act as role models to other African Nations, of how Intra-Africa trade can strengthen our Africans Economies,” she said.
Mrs Lee said Ghana’s Ministry of Business Development is targeting to drive entrepreneurship through establishment of accelerator and incubator programs.
The expo will involve a three-day workshop, keynote addresses, and B2B meetings. The Theme of the Expo is ‘Breaking New Frontiers in Intra-Africa Trade’.
Ms Lee said the expo will also provide participants a platform for understanding business policies and procedures in both countries.
The first Annual Kenya Trade Expo in Ghana took place in 2015, attracting a crowd of over 2,000 emerging and established business people, government and non-government officials and supporters.
According to the Export Promotion Council Kenya, in 2014, Kenyan exports to Ghana were valued at US$4.5 million against US$3.5 million.
Ghana has moved up from 114 to 108 in the Ease of Doing Business Ranking by the World Bank between 2014 and 2016.
According the World Bank, Doing Business Report 2016 Ghana made trading across borders easier by upgrading infrastructure at the port of Tema, and reducing the documentary and border compliance time for importing.