Friday, 13 June

Ghana secures 0% tariff access to Chinese market as bilateral talks deepen

Business
Samuel Okudzeto -Ablakwa and His Excellency Wang Yi

Ghana’s Minister for Foreign Affairs and Regional Integration has announced a major breakthrough in trade relations with China, following high-level bilateral talks with His Excellency Wang Yi, China’s Foreign Minister, on the sidelines of the ongoing China-Africa Economic and Trade Expo in Changsha.

In a significant development, China has offered Ghana 0% tariff access on all exports, making it easier for Ghanaian goods to enter the Chinese market.

The move is expected to boost trade, create jobs, and empower local entrepreneurs by expanding export opportunities.

“China is Ghana’s number one trading partner, with bilateral trade exceeding US$11 billion last year,” the Minister stated.

“This zero-tariff policy on 100% of goods from Ghana and other African countries will bolster trade and drive industrial growth.”

The two countries also explored a series of ambitious economic and industrial projects aligned with President John Dramani Mahama’s transformation agenda.

Key among them is a plan to develop Ghana’s bauxite resources into an integrated aluminium industry, powered by modern rail infrastructure to enhance domestic production and exports.

In a forward-looking agreement, the ministers also discussed the establishment of an electric vehicle manufacturing plant in Ghana.

This project will leverage Ghana’s growing lithium reserves, positioning the country as a strategic player in the global green energy and automotive sectors.

To formalise these initiatives, Ghana and China are preparing to sign a Special Economic Partnership Agreement aimed at deepening cooperation and solidifying their long-standing diplomatic and economic ties.

“President Mahama’s administration remains committed to using diplomacy as a tool for national transformation,” the Minister said, adding, “Kwame Nkrumah and Chairman Mao would be proud of what Ghana-China relations have achieved 65 years since their foundation.”

 

 

Source: Classfmonline.com/Cecil Mensah