Ghana experience in ECOWASBenefits that are enjoyed by the Ghana as one of the ECOWAS member s are many and they are an inclusive of the following though Ghana still is faced by the various challenges. The very exclusive benefits are as follows. Export potential. This is the commercial opportunity of making the internal, markets bigger and than they were before. As a member of the ECOWAS, Ghana has experienced the opening of its market internally to welcome the commercial business entities that have increased it capacity to produce and export some of its home made products.
The exporting of these goods earns the country foreign exchange as well as the growth of the economy due to increased money values as a result of the business ventures. ECOWAS membership capability to open room for the commercial business does also create employment opportunities and this could be due to the establishment of business ventures that required both the skilled and unskilled labor. The labor force was recruited from the native and this has once improved the standards of living as well as the lifestyles in general.
Employment has led to low crime rates and has natured the entrepreneurial talents of the people of GHANA to an extent that the poverty levels are decreasing on a large scale. The enlargement of the internal market has made Ghana a fast developing nation in the 21st century with wide opportunities in days to come. As a member of ECOWAS, Ghana has seen the classical trade creation effects that are related to the increasing of the customs union size and this could not be easily attained if it were not of their ECOWAS membership and subscription.
According to United nations, (2003), the accession countries are of smaller size but they have grown in a very quick rate in the recent past and they still have the potential of growth hence making the long run potential economically of Ghana to be grater than before and its current size. It has been said that if the living standard continue to go up then the potential to make an export of the consumer industries is relative and most likely would be huge in Ghana and the nation would be concentrated into retailing and the banking as well as the hotel industry.
All this is due to the preferential trade arrangements because it does work at ensuring that the barriers are lowered amongst the member states and the economic integrations are loosened and the non members do face entry barriers which make the country to be stable. Benefits of economies of scaleAnother beneficial reason of Ghana being a member of ECOWAS is that it has the promote of enjoying the economies of scale due to the potential of making supplies to larger markets because the members stated would also be encouraged to buy products that are made in Ghana hence making their market to be widened.
This exploitation of economies of scale do assist the country to make gains that are likely to lead to the productive efficiency as well as the increment of the returns to scale and on top of this it has facilitated the exploitation of principles that surround the large minimum efficient scale which is relative to majority of the ECOWAS members. (United nations, 2003).