WTC Accra Promotes Trade and Investment In China

ACCRA, GHANA - As part of its efforts to promote trade and investment between Ghana and China, the World Trade Centre (WTC) Accra in collaboration with CCPIT (China Council for the Promotion of International Trade) organized a match-making forum in Beijing, China for Ghanaian and Chinese companies.

The forum was attended by Togbe Afede XIV, Executive Chairman of World Trade Centre Accra, Dr Lu PengQi, Vice President of China CCPIT, Mr. Alfred Saame, Head of Chancery of the Embassy of Ghana in Beijing, Mr Zhou Jian, Director of SME Bureau of Ministry of Industry and Information Technology, Mr. Zhang Gang, Vice President of Beijing City Council, Ghanaian business delegation and their Chinese counterparts.

Members of the Ghanaian business delegation who are participating in the 4 –city China business tour (Beijing, Shanghai, Shizen and Guangzhou) include: SAS Finance Group, BEA-NEWT Company Limited, City Toll/City Auction Mart, Crisel Consult Limited, Deliman Group Limited, D’yorc Motors, GCB Bank Limited, Helisel Aviation Limited, Menjes Homes Limited, Mimshach Energy Limited & Mimshach Offshore Limited, National Investment Bank, Nkunim Company Limited, Rare Hydraulics Limited and St. Louis Petroleum. About 150 Chinese related industries and enterprises as well as representatives of relevant enterprises and members of the media participated in the forum

Stressing on the importance of building a stronger bilateral relationship between the private sectors of Ghana and China, the leader of the business delegation from Ghana, Togbe Afede XIV indicated that though Chinese investors invest in strategic areas in Ghana such as electricity generation, construction, the best of China is yet to be seen in Ghana. He said Ghana offers lucrative investment opportunities in the areas of finance, agriculture, infrastructure, real estate, transportation, water services hence the choice of companies for the business mission. “Trade between Ghana and China is growing rapidly. Available data indicates that total bilateral trade has increased from $2billion in 2010 to over $6.6billion in 2015, an increase of 221%”, the Executive Chairman of WTC Accra noted.

Vice President of CCPIT Dr Lu PengQi lauded the initiative of the World Trade Centre Accra to further accelerate trade and investment between the two countries, as Ghana is one of the main trading partners of China. According to the Ministry of Commerce website, related data show that in 2015 the bilateral trade volume exceeded 6.6 billion U.S. dollars, an increase of 18.2% over the previous year, ranking sixth in Africa. In the case of investment, according to Chinese statistics, 2015 China foreign direct investment to Ghana amounted to $174 million, ranking sixth in all African countries. As of the end of 2015, China's direct non-financial investment amounted to nearly $1.3 billion. China has become the largest source of foreign direct investment to Ghana, the largest source of imports and key trading partner.

China-Africa Cooperation
During the Johannesburg summit in December 2015, China’s President Xi JinPing proposed a new type of China Africa partnership to enhance the comprehensive strategic partnership, and announced the implementation of a "ten point cooperation plan" and the "China Belt and Road Initiative" in collaboration with African countries seeking to accelerate their industrialization and agricultural modernization.

Vice president of CCPIT Lu PengQi pointed out in his speech that the presence of the business delegation from Ghana will contribute to the implementation of the "ten point cooperation plan" and "national Belt and Road Initiative" development strategy and also strengthen pragmatic cooperation in non-economic and trade fields.

The Head of Chancery of the Embassy of Ghana in Beijing Mr. Alfred Saame on his part underscored the need for more Ghanaian businesses to leverage the excellent cooperation between the two countries. The Head of Chancery stated that the forum is very important and timely, and will assist the implementation of specific initiatives proposed in the China-Africa Johannesburg summit in 2015. He proposed that the two organizations use the forum to fully communicate and carry out more pragmatic cooperation, and jointly promote economic and trade relations for more far-reaching development.

MOU signed
During the forum, WTC Accra signed a memorandum of cooperation with the China CCPIT (China Council for the Promotion of International Trade), with the aim to further strengthen exchanges and pragmatic cooperation, and the continuation of Sino African friendship.
Togbe Afede XIV was of the view that the memorandum of cooperation signed will largely define the re

To learn more about WTC Accra, click on the source link below.