The Minister of Trade and Industry, Mr Alan Kyerematen has proposed to Canada to explore the possibility of establishing a Ghana-Canada business council to promote trade between the two countries.
According to him, increasing trade relations between Ghana and Canada would improve the trade volumes between the two countries. He said the council would provide an opportunity for the two counties to deepen their engagement in the area of business and private sector development. He added that the council would also facilitate trade and investments between the two countries.
Moreover, he said the council would address potential challenges in the commercial relations between the two countries. The council, he said, would further support the ministry’s ongoing efforts to identify business opportunities for the enhancement of bilateral economic, trade and investment co-operation.
He also assured Canadian investors of Ghana’s readiness to serve as the entry point to the Sub-region for opportunities in the regional market. The African Continental Free Trade Area (AfCFTA), he said, has an estimated market size of over 1.2 billion consumers.
Mr Kyerematen made the proposal when Canada’s High Commissioner to Ghana, Ms Kati Csaba, paid a courtesy call on him in Accra.
Improving Bilateral Relationship
Mr Kyerematen said Ghana and Canada had enjoyed close bilateral relations for over a century. The relations, he pointed out, cover high level of cooperation in trade, investments, development, and humanitarian assistance.
He recounted Canada’s contributions to the development of the country in many critical roles stimulating sustainable economic growth. He said Canada supports in promoting climate-smart agriculture as an engine for inclusive and sustainable economic growth; improving access to and use of affordable and nutritious foods, among others.
“Trade between the two countries has grown steadily and doubled over the past decade from about $201 million in 2010 to over $540 million in 2019.”
Mr Alan Kyerematen, Trade Minister
Mr Kyerematen said Ghana also intends to leverage the strong bilateral relations by making Canada a destination market for value added goods. He added that Ghana could benefit from Canada’s experience in vehicle assembly and manufacturing of machinery and component parts, fertilizers and industrial chemicals.
On her part, the Commissioner welcomed the idea of establishing a business council in Ghana to promote trade and investment between the two countries. She congratulated Ghana on hosting the AfCFTA secretariat and playing a leadership role in its establishment.
Ms Csaba said AfCFTA offers opportunities for intra-African trade. Therefore, Canada is looking at how it would benefit from the linkages and increase its trade on the continent, she mentioned. She said Canada had over the years enjoyed good cooperation in the area of business and trade with Ghana. Thus, Canada is poised to expand its trading relationship with Ghana, she added.
“We are conscious of Ghana’s initiative to move beyond aid and move towards more mature relations with other countries.”
Ms Kati Csaba, Canada’s High Commisioner
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