Ghanaian China-based businessman Daniel E. Obeng Torkonoo has called on Ghana to expand its exports to China beyond raw materials, arguing that the country can compete more effectively in international trade by processing its natural resources into finished and value-added products.
Speaking on IKulcha TV and Radio Kulcha with Kwesi E Baako, Mr Torkonoo stressed the need for Ghana to move beyond exporting raw commodities and focus on developing local industries capable of producing goods for the Chinese market.
His comments come amid China accepting the Ghanaian cedi for trade transactions, an arrangement that could create opportunities to strengthen economic ties between the two countries.
According to Mr Torkonoo, Ghana must take advantage of its natural resources by investing in processing, manufacturing and value addition to increase export earnings and create more jobs.
He indicated that exporting finished products rather than relying heavily on raw materials could help Ghana derive greater economic benefits from its trade relationship with China.
Mr Torkonoo’s remarks highlight the importance of industrialisation and export diversification in strengthening Ghana’s competitiveness in the global economy.
WATCH VIDEO BELOW:
