The team leader at Compete Ghana Technical Assistance, Nicholas Gebara, has highlighted that due to insufficient financial support and technical expertise, small- and medium-sized enterprises (SMEs) struggle to fulfill substantial orders from the European Union (EU) market.

He noted the challenges faced by SMEs when confronted with sizable orders from EU clients, citing their limited production capacity in comparison to the demands.

Mr Gebara urged SMEs to enhance their organization and structure to align with EU market requirements.

To facilitate this, he recommended increased collaboration between the government and the private sector, emphasizing the need for joint efforts to empower SMEs in capitalizing on export opportunities within the EU.

Gebara emphasized that collaboration could contribute to capacity-building, facilitate access to financial support, and provide training for SME owners. These concerns and recommendations were shared during the Compete Ghana Programme’s closing ceremony.

The Compete Ghana Programme, funded by the EU through the Ghana-European Interim Economic Partnership Agreement (iEPA), focused on capacity-building for 40 traders from both large companies and SMEs.

The program aimed to equip them with the knowledge to leverage the benefits of the iEPA.

Operating at both institutional and private sector levels, the program aimed to streamline regulatory frameworks related to iEPA and guide the private sector to comprehend and utilize the agreement's requirements and benefits.

The iEPA agreement, initiated in 2016, seeks to establish a more competitive trading relationship between Ghana and the EU.

Under this agreement, EU companies can trade and invest in Ghana, producing goods for export to the broader African market.

Additionally, the removal of tariffs on intermediary goods and machinery from the EU under the iEPA facilitates cheaper inputs for Ghanaian production.

Deputy Minister for Trade, Oheneba Nana Ama Dokua Asiamah-Adjei, commended the Compete Ghana Programme, emphasizing its role in promoting innovation, enhancing competitiveness, and creating a conducive environment for business growth.

She highlighted the program as a testament to the efficacy of partnerships in advancing trade capabilities and sustainable development opportunities.