Chief Economist at the Development Bank Ghana (DBG), Prof. Eric Osei-Assibey, says Ghana’s ability to integrate into global value chains depends on empowering local firms to produce competitively, not just identifying goods with comparative advantage.
Speaking at the 2025 Citi Business Forum on Thursday, June 12, under the theme “The Global Tariffs Dispute: Navigating Ghana’s Recovery Strategy,” Prof. Osei-Assibey warned that Ghana’s high production costs are undercutting its export potential.
“We need to look at how to create a competitive environment. We have mentioned some of the products that seem to have some comparative advantage, palm oil, cashew, etc., but that in itself cannot get us into the global value chain,” he said.
He argued that tariff barriers are less of a problem than Ghana’s lack of competitiveness, stressing the need to reduce costs for local producers.
“Tariff or no tariff, what will take us there is the competitiveness of the product. If we can produce at a competitive price, no matter the tariff, you will be able to penetrate,” he explained.
Prof. Osei-Assibey urged policymakers to go beyond export identification and focus on improving cost structures for indigenous businesses.
“So our focus should be on ensuring how we support indigenous firms, the private sector, to be able to produce at a competitive price. It is very important to look at the value chain our cost of production is huge,” he emphasised.
