Ghana, South Africa to deepen trade ties

Ghana and South Africa have committed to strengthening the existing trade ties between the two countries for the mutual benefit of both countries.

Speaking at the Ghana-South Africa business forum held in Accra the South African High Commissioner to Ghana, Ms Lulama Xingwana said: “It is also an unequivocal statement that indeed our countries are committed to building sustainable partnerships. This visit reaffirms this commitment to the ever-growing bilateral relations between our countries. It also is about underscoring our resolve to open our markets more to alter the reality of our trade volumes.”

READ ALSO: Cedi will be stable in 2nd quarter – Economist

“The net effect of any such trade and investment is economic development and poverty alleviation that fundamentally contribute towards realising intra-Africa trade,” Ms Xingwana said.

The Trade relations between the two countries have been soaring over the years. The volume of trade between the two countries, for instance, grew by 56 percent between 2011 and 2013.

South Africa’s investment in Ghana is estimated at 64 billion rands. On the other hand, Ghana’s current investment in South Africa stands at about US$7.4 million.

READ ALSO: Sunyani Airport to be revamped

The forum which was on the theme “Catapulting Economic Development Towards Shared Growth And Prosperity.”

It was to give both Ghanaian and South African businesses the opportunity to share ideas and establish contacts.

READ ALSO: Jude Arthur is new chair of GCB Board

At the forum, there was an 18-member high-powered business delegation from South Africa who were in the country to promote South African products and services offerings

In a speech read on behalf of Ghana’s Minister for Trade and Industry, Alan Kyeremanteng, he said the trade relations between the two countries has developed over the years and called for an even better relation between the two countries.

Leave a Reply

Your email address will not be published. Required fields are marked *