September 10, 2018. President of AmCham Ghana, Mr. Joe Mensah, Executive Secretary, Simon Madjie and some Members of the Chamber met with the Deputy Assistant, U.S. Trade Representative for Africa, Bennet Harman.
The roundtable discussion focused on how the U.S. can strengthen its trade with Ghana and the Continent with emphasis on trade facilitation, tariff and non-tariff barriers to trade. Specific challenges in the investment environment and the ease of doing business in Ghana were also discussed.
On the impact of U.S. businesses in Ghana, Mr. Joe Mensah said “the U.S. has a lot to offer Ghana and the Continent. U.S. companies have much of what African Governments say they want and need. They operate ethically, they have high quality goods and services, and they prefer to have local talents.” The U.S. should focus on deepening its relationship with Africa, he added.
The Deputy Assistant Trade Representative for Africa, Mr. Harman also reiterated the commitment of the U.S. Administration on working with Ghana, when he highlighted the July visit to Ghana by Secretary Ross and members of the PAC-DBIA. He further said that the United States Trade Representative was exploring options of creating Free Trade Agreements with certain Countries on the Continent, as a way to promote the competitive edge for U.S. Companies.
Members present at this private roundtable included representatives from Dow Chemical, Coca- Cola Bottling Company, Kosmos Energy and Cummins Ghana Limited.
The Office of the U.S. Trade Representative (USTR) is responsible for developing and coordinating U.S. international trade, commodity, and direct investment policy, and overseeing negotiations with other countries.
Ghana is currently the U.S. 81st largest goods trading partner with $1.6 billion in total (two way) goods trade during 2017. Goods exports totaled $860 million; goods imports totaled $750 million. The U.S. goods trade surplus with Ghana was $110 million in 2017.
According to the Department of Commerce, U.S. exports of goods to Ghana supported an estimated 5 thousand jobs in 2015 (latest data available).
The top U.S. export to Ghana categories (2-digit HS) in 2017 were: vehicles ($198 million), electrical machinery ($126 million), machinery ($106 million), mineral fuels ($89 million), and meat (poultry) ($53 million). The top import from Ghana categories (2-digit HS) in 2017 were: mineral fuels ($426 million), cocoa ($224 million), special other (previously exported item) ($17 million), wood and wood products ($13 million), and rubber ($12 million).
U.S. foreign direct investment (FDI) in Ghana (stock) was $1.7 billion in 2017, a 14.3% decrease from 2016. There is no information on the distribution of U.S. FDI in Ghana.
