In the new MPS Terminal 3, the country has in a place a modern and sustainable infrastructure that will drive its trade competitiveness within the continent and beyond, especially with the implementation of the Africa Continental Free Trade Area (AfCFTA), Mohammed Samara, CEO of the Meridian Port Services (MPS), has indicated.
Speaking as a panelist on one of the sessions at the 8th Ghana Economic Forum, organized by the Business and Financial Times in Accra, he said the facility will enhance the nation’s exports and industrialization efforts.
“The AfCFTA is an area we need to plug into through ports; we cannot sell in it or access the 1.2billion people [market] if we do not have the right infrastructure such as the new terminal.
MPS and Tema Port is delivering the connectivity for both farmers and industrialists to sell and access the wider continent-wide market,” he noted.
He added: “Connectivity alone has created a massive industry attached to the ports as it allows the reach of exports and that is how we can support the critical sectors of agriculture and industry to create a sustainable economy.”
According to the MPS boss, the huge opportunities offered by the country’s ports and if backed by a vibrant and efficient rail network will push will place the country in a pole position to reap more gains from the AfCFTA.
He therefore hinted of a possible partnership with the Railway Ministry to see out the rail component of the port expansion project.
He said: “Rail is the backbone of the economy and the nation and so we will look at opportunities to partner and work with them [Railway Ministry] on that.
Currently we have a big port on our hand, a big investment and big project finance that we have to meet certain criteria for so we can deliver right on time.”
Mr. Samara said MPS Terminal 3 will amongst others, improve terminal performance in terms of liner shipping connectivity, trade costs, trade value and employment.
Also, investments in high-end technology and equipment for its fully integrated container terminal, he said, will eliminate congestion and maximize efficiency levels without compromising on security at the port.
It is also estimated that a 14-17percent increase in trade value will increase turnover of Ghana’s import and export companies and in turn generate gross value added and jobs.
GEF 2019 on the theme: ‘Sustaining Macroeconomic Stability through the Election Cycles: The 2020 Test Case”, brought together over 300 key business leaders and policy makers under one roof to deliberate on how the country can avoid the slippery path of economic slippages in election year 2020.