Ghana’s exports to Burkina Faso have increased to $276million in 2021 from $264million in 2020.
Meanwhile, its imports from Burkina Faso amounted to $50 million over the same period.
Similarly, the Export Potential Map projection based on demand and supply, market access conditions and bilateral ease of trade showed that the total value of the 51 leading products from Ghana to Burkina Faso amounts to 8.4 billion dollars.
Mr Clement Osei-Amoako, President of the GNCCI, said out of this amount Ghana was exporting only 33 per cent, representing 2.8 billion dollars.
Mr Osei-Amoako said this during the opening of a five-day Economic and Trade Promotion Day (JPEC) event in Accra.
The event was on the topic: “Strengthening Economic and Trade partnership between Burkina Faso and Ghana: Which synergies of actions in the current context of the implementation of African Continental Free Trade Area (AfCFTA).”
The event was in collaboration with the Ghana National Chamber of Commerce and Industry (GNCCI) and the Burkina Faso Chamber of Commerce and the Ministry of Industrial Development, Trade, Handicrafts and Small and Medium Enterprises of Burkina Faso and Burkina Faso Chamber of Commerce.
The collaboration in its 4th edition seeks to promote the economic, commercial, and cultural potentials, as well as strengthen cooperation between both countries.
He said this means that there was huge export potential for Ghana and Burkina Faso, which both countries needed to take advantage of.
He said the collaboration with these institutions was timely and assured of business confidence.
Mr Osei-Amoako said the agenda of the event included an exhibition of products, Business to Business meetings and visits to partnered companies.
“Ultimately, it will create a harmonious integration that will elevate Ghana’s private sector to a competitive level and enable regional and international economic growth,” he added.
He said as the representative organ of the business community in Ghana, the Chamber was of the strong conviction that the business forum would serve as a unique platform for businessmen and women of the respective countries to interact, share ideas and establish business relationships.
The President expressed the hope that the business forum would further strengthen the strategic trade partnership between Ghana and Burkina Faso, bringing economic and social benefits by creating new opportunities for trade, investment, and employment.
Mr Mahamadi Savadogo, President of the Chamber of Commerce and Industry, Burkina Faso, called for continuous collaboration and work relentlessly to boost intra-African trade.
“That is why we are committed to supporting the organisation of the 4th JPECs in the wake of the previous editions in the Republic of Benin in 2015, Ivory Coast in 2017 and Senegal in 2019,” he added.
He expressed the hope that these events would serve as stepping stones toward dynamic and prosperous joint ventures likely to foster the industrial development of our two countries.
Mr Abdoulaye TALL, the Minister for Industrial Development, Trade, Handicrafts and Small and Medium Enterprises of Burkina Faso, said the forum was an opportunity to strengthen the excellent economic and trade relations with Ghana, as evidenced by trade statistics.
“In the sub-regional context marked with security challenges, the JPECs should also help consolidate integration and brotherhood between the two countries,” he said.
Mr Abdoulaye said Burkina Faso was eager to showcase to Ghana not only products made in the country but also the performances of its companies, which were distinguished by their resilience.
“We can assure you, investors from Ghana, that our country is steadily striving to create an environment conducive to investment,” he said.