Ghana and Austria have reaffirmed their commitment to bolstering trade and investment relations at all levels for the mutual benefit of both nations.
The pledge was made during bilateral discussions held in Accra led by Ghana’s Minister for Foreign Affairs and Regional Integration, Hon. Shirley Ayorkor Botchwey, and the Austrian Federal Minister for European and International Affairs, H.E. Alexander Schallenberg.
“Doing business in Ghana means having access to the world’s largest free trade area, with 54 countries, 1.3 billion people, and a combined GDP of $3.4 trillion,” Hon. Botchwey remarked. She emphasized that the African market presents untapped opportunities for foreign businesses, particularly those seeking to expand their footprint in Africa.
Hon. Ayorkor Botchwey expressed her gratitude to her Austrian counterpart for the historic visit, emphasizing the need for increased collaboration between the two countries.
Hon. Ayorkor Botchwey acknowledged the efforts already underway to build partnerships and called for further engagement to solidify ties, particularly in trade and investment.
Hon. Ayorkor Botchwey also urged the Austrian business community to explore partnerships with their Ghanaian counterparts, leveraging the significant trade advantages Ghana offers through its participation in the African Continental Free Trade Area (AfCFTA).
The discussions, seen as a significant step in enhancing Ghana-Austria relations, highlighted the importance of expanding cooperation in areas of trade, investment, and diplomatic ties.
At a joint press briefing following the discussions, both leaders underscored the importance of forging closer partnerships to unlock new opportunities for economic growth and development.
In his remarks, H.E. Alexander Schallenberg reiterated Austria’s readiness to enhance its economic ties with Ghana.
“The future of Europe’s security and prosperity is in its partnership with Africa, and Ghana is undoubtedly an ideal partner,” H.E. Schallenberg noted.
H.E. Schallenberg commended Ghana’s democratic governance and stability, noting that these attributes make the country an attractive destination for Austrian investments. He expressed Austria’s intent to deepen people-to-people partnerships, strengthen diplomatic ties, and increase trade volumes between the two nations.
He further highlighted Austria’s eagerness to increase trade and investment with Ghana, stating that the collaboration would be mutually beneficial for the citizens of both countries.
A major outcome of the bilateral talks was the signing of two important Memoranda of Understanding (MoUs) between the Government of Ghana and the Government of Austria.
The first MoU pertains to cooperation in the field of development, mobility, and migration. This agreement aims to facilitate sustainable development and foster collaboration in managing migration, which remains a critical area of cooperation between Africa and Europe.
The second MoU focuses on reciprocal access to the labor market for dependents of members of diplomatic missions and career consular posts.
Austria’s New Embassy in Accra
In a related development, the Republic of Austria officially inaugurated its embassy in Accra, marking a new chapter in the diplomatic relations between the two countries.
The opening of the embassy is expected to further strengthen Austria’s diplomatic presence in West Africa and deepen ties between Austria and Ghana.
At the inauguration ceremony, H.E. Schallenberg described, “The opening of the Austrian embassy in Ghana is a testament to our commitment to deepening bilateral relations and exploring new avenues for cooperation.”
He expressed optimism that the physical presence of an Austrian embassy in Accra would foster stronger diplomatic and economic engagements.
Hon. Shirley Ayorkor Botchwey also expressed her excitement about the new embassy, describing it as a mutually beneficial development for both countries.
“The establishment of Austria’s embassy in Accra is a significant development that will enhance our diplomatic relations and contribute to the future prosperity of both our nations.”
Hon. Shirley Ayorkor Botchwey, Minister for Foreign Affairs and Regional Integration
She further highlighted the embassy’s role in promoting Ghana-Austria cooperation in areas such as trade, education, culture, and tourism.
The collaboration between the two nations signals a promising future for Ghana-Austria relations, built on shared interests, mutual respect, and a commitment to sustainable development.
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