Exporting is the outflow of goods and services from one country, and its sale to another. It is important for all countries, particularly developing countries, as it brings in vital foreign exchange needed for development and payment of goods and services. The greater the inflow of earnings, the better the balance of payment position and consequently the faster the rate of development.
Products that can be exported are classified as either Traditional or Non-Traditional.
Traditional exports are Cocoa beans, Timber, Minerals and Electricity. All other products are classified as Non-Traditional exports. For ease of reference the products have been grouped as Agricultural, Processed and Semi-Processed and Handicrafts.
HOW TO EXPORT
The export trade begins once you decide to export and set about achieving it. Some exporters are themselves producers of the goods exported. Others do not produce, but buy the merchandise from producers for export. When you decide to export, you need to do the following:
Business Registration
Register your business at the Registrar Generals Department. Your business may be a limited liability, public limited liability, sole proprietorship, a partnership or co-operative. Open a bank account at a bank of your choice.
Export Registration
The GEPC registers exporters to enable us have a profile on the companies. Registration forms can be obtained from its head office or any of its zonal offices in kumasi, Takoradi, Tamale, Bolgatanga and Ho. The registration and renewals attract a fee. Click here to register
SECURING AN EXPORT ORDER A transaction of a secured order should contain the essential facts about the desired merchandise.
Check Background of Buyer
Exporters must check the background of the buyer or importer. GEPC could assist in checking on the background of the buyer.
Export Documentation The exporter should obtain:
Ghana Export Form from;
CEPS
Commercial Banks
Methods of Payment
Letter of Undertaking
60 Days Credit
Bilateral Account
External Accounts
Forms of Payment
Cash
Cheque
Mail Transfer
Electronic Transfer
Other Modes of Payment
A confirmed irrevocable Letter of Credit:
Bills of Collection
TAXATION All Non-Traditional exports are free from taxation and should be covered by the Ghana Export Form.
HOW TO SUCCEED IN EXPORT TRADE Adequate knowledge of international business practices is essential. For more information contact GEPC.
