Cocoa export is expected to rise with the introduction of the new system
The Ghana Export Promotion Authority (GEPA) has rolled out a geographical mapping of companies to create a data base for a national product traceability system, as the country hopes to rake in about $3.3 billion from its exports this year.
The Geographic Information System (GIS) will create a data base for exporters in food and agro processing products, which will enable Ghana to avoid the risk of having its exports to the European Union (EU) markets reduced.
The EU Commission's decree on the General Food Law, which became effective in P02005, requires that all exports be documented so that their history and location could be readily verified to remove dangerous products from the market.
In the first quarter of 2012 the GEPA was able to hit $1.387 billion out of its targeted $2.446 billion for 2012.
While GEPA looks forward to integrating service export to its portfolio, the need for export promotion instruments would remain a key factor since it is a substantial factor to economic success.
Ghana's major export destination is the EU.
In 2011 the country realised $499,054,914 from exports to the EU, representing 38% of total export earnings.
With the needed support, the acting chief executive officer of the Ghana Export Promotion Authority (GEPA), Stephen Normeshie on Wednesday said Ghana could attain its target of $3.308 billion revenue for the 2013 financial year.
He said any break in the integrity of food supply chain could adversely affect exports from Ghana to the EU, which would invariably affect the expected revenue.
The Economic Community of West African States (ECOWAS) is Ghana's second major market in terms of export revenue, but Normeshie believes increased penetration of the EU market was still critical to Ghana's economy.
ECOWAS markets in 2011 fetched Ghana $261,922,314, representing 29% of total export revenue.
Ghana's main exports are gold, cocoa beans and timber products. Others include tuna, aluminum, manganese ore, diamonds and horticulture.
The GIS project involves the unique identification of products and raw materials from sources in originating countries and maintenance of accurate records on geographic location of firms, farms, factories, movements and utilisation of products at all stages of the value chain.