Economy, Domestic Economy

127% Rise in Exports to Ghana

127% Rise in Exports to Ghana 127% Rise in Exports to Ghana

Iran exported more than $6 million worth of goods to Ghana in the 10 months to Jan. 20, registering a 127% increase compared with the similar period of last year, the deputy head of Trade Promotion Organization of Iran for Arab-African affairs said.

Mehrdad Fallah also told IRNA that the exports mainly included plaster, bitumen, motor oil, semi-chemical fluting paper, plaster and wood furniture.

Iran’s exports to Ghana in the last Iranian year that ended on March 20, 2017, increased by 170% compared to the year before to stand close to $2.3 million.

The sixth session of Iran-Ghana Economic Commission, held in Accra on Nov. 13-16, was co-chaired by Iran’s Agriculture Minister Mahmoud Hojjati and Ghana’s Trade and Industry Minister Alan John Kyerematen. 

Three memoranda of understanding were signed by the two sides related to cooperation in technical and engineering services in the field of geomatics, sports and educational cooperation, as well as agricultural outsourcing. 

The two sides agreed that Ghana will allocate 6,000 hectares to Iran to pursue the “Beyond Borders Agriculture” scheme.

The scheme involves the practice of purchasing, renting or leasing arable land for the cultivation of agricultural products in another country. These products are later imported into Iran, or alternatively exported to other destinations. The process, also known as agro outsourcing, is aimed at ensuring food security and boosting agricultural production.

Iran’s Ministry of Agriculture is currently using overseas land to cultivate rice, corn and oilseeds, the local production of which does not suffice domestic demand.

Iran practices agro outsourcing in several regional countries, including Russia, Ukraine, Kazakhstan and Tajikistan. In addition to suitable climatic conditions and arability, these countries offer low irrigation costs.

It was also agreed that Iran will launch a cement factory and a tractor production line in the West African country.

Kyerematen said Iran can participate in the construction of at least 100 industrial parks in Ghana, as his country plans to set up 200 such parks.

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