Economic Value of International Language(s) in International Trade, a Case Study of Traders (Ghana-Togo-Ghana) in Central Business District of Kumasi, Ghana

Abstract

International trade is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual. In Africa and Ghana to be specific, it is through international trade that items like automobiles, mobile phones, and other sophisticated machines are acquired. Along the West African belt, trade has been very key in the lives of the individual. However, different languages are used across the West African sub-region. Major amongst these languages are French, English, Twi , Hausa, and Ewe. The success of traders in the sub-region depends greatly on their ability to communicate either in written or oral form one of the aforementioned languages. Due to this barrier traders usually resort to interpreters to aid their trading activities. Meanwhile, these interpreters are not benevolent organizations-they also work at a charge. The primary gravity equation was modified to include the cost of individual activities such as Cost of interpreters, Transportation cost, and accommodation cost. GDP and Transportation cost are very crucial in Trade. International languages also put a cost on traders as interpreters charge about USD 8.11 on average. Governments may involve themselves by way of trade agreements to ease the trading between their respective countries and also promote language in Schools.