GHANA & CHINA SIGN MINUTES OF THE FOURTH SESSION OF THE JOINT COMMISSION ON ECONOMIC, TRADE AND TECHNICAL CO-OPERATION

The Fourth Session of the Joint Commission on Economic, Trade and Technical Co-operation between the Government of the Republic of Ghana and the Government of the Peoples Republic of China has taken place in Accra.

 

Discussions at the Session centered on bilateral trade, investment, financing, development assistance co-operation with regards to grants and concessional loan financing, regional aviation co-operation and human resource training, and implementation of the US$ 60 billion support provided under the Forum on China-Africa Co-operation for African Economies.

 

On bilateral trade, the Chinese side extended an invitation to Ghana to participate in China International Import Exposition from 2018 and other trade promotion activities, advertize products such as  Cocoa, Shea-butter, Cashew and Starch on the Chinese market to encourage further imports from Ghana by Chinese enterprises.

 

One notable area of investment co-operation identified by the session was for Chinese enterprises to take part in Ghana’s ‘One-District, One-Factory’ Agenda to speed up the national industrialization process while Chinese financial institutions will establish business relations, exchange information with the Ghana Export-Import Bank and other financial institutions in order to provide service for the further development of bilateral trade and economic co-operation.

 

China indicated continued willingness to support Ghana’s economic development within the limits of Its capability.

 

The Chinese side also pledged to provide the necessary financial support to the electricity, transportation, telecommunications, municipal construction and the education sectors under the framework of the Forum on China-Africa Co-operation for African Economies.

 

The two sides agreed to strengthen human resource co-operation through exchange programmes and participation in various seminars and training courses in China.

The Joint Commission on Economic, Trade and Technical Co-operation is a Medium-Term Development Assistance Agreement that is expected to be signed every four years between Ghana and China to guide the co-operation arrangements over the period.

 

Ghana’s Finance Minister, Ken Ofori-Atta, and China’s Vice Minister for Commerce, Qian Kenning, signed the Minutes of the Session.

 

Mr Kenning used the occasion to invite President Nana Addo Dankwa Akufo-Addo to China, next year.

 

Qian Kenning’s visit to Ghana was a follow-up to that of Dr Mahamudu Bawumia, Vice President of Ghana, in June, this year.

 

Source: ISD (G.D. Zaney)