Ghana-Germany trade declines

The Ghanaian-German Economic Association (GGEA) on Wednesday expressed alarm at the declining volumes of trade statistics between Ghana and Germany, with Ghana at a disadvantage, reported the Ghana News Agency.

Addressing the opening of the first-ever GGEA Trade Fair in Accra, Stephen Antwi, president of GGEA, said it was disheartening that in 2004, trade volumes between the two countries finished at only 230 million euros (292.1 million U.S. dollars).

Ghana's exports of cocoa, timber and fruits were only 90 million euros (114.3 million dollars) with Germany's exports of technical equipment and machinery being 140 million euros (177.8 million dollars).

He said previous annual figures indicated a disturbing declining trend, but expressed the hope that activities of the GGEA, which were among others geared towards reversing the trend, would succeed.

Source: Xinhua