<<Print>>

Total bilateral trade between Ghana and India between 2015 and 2016 has reached $3 billion in favour of Ghana, Indian authorities in Ghana have revealed.

President of the south Asian country, Mr Pranab Mukherjee, who’s currently in Ghana at the invitation of President Dramani Mahama, expressed his satisfaction over the development, but observed that the feat was still below the existing potential. 

President Mukherjee arrived in Accra last Sunday on the first leg of his six-day visit to three African nations - Ghana, Ivory Coast and Namibia - as part of his "outreach to Africa", focusing on trade, education and boosting relations with these countries.

Speaking at a business forum in Accra yesterday, President Mukherjee called for the deepening of relations between the two countries, and urged Ghanaian businesses to diversify their operations and expand their exports to India.

Dubbed ‘India-Ghana Business Forum,’ the event was jointly organised by the Confederation of Indian Industry (CII) and the Association of Ghana Industries (AGI), and pooled several Ghanaian and Indian business concerns. 

“I am glad to note that our bilateral trade is in favour of Ghana; however, I would want to encourage entrepreneurs in Ghana to diversify their exports to India,” the Indian President stated.

Mr Mukherjee, who is the first India President to visit Ghana, disclosed that India had during the third India-Africa Forum Summit, held in New Delhi in October 2015, earmarked US$10 billion for diverse projects in Africa and capacity building efforts.

“The Government of India looks forward to working with Ghana to identify projects for the utilisation of those funds in Ghana,” he affirmed.

He assured further that, “Wherever there is a possibility for public-private partnership, Government of India will not hesitate to support such projects to strengthen the excellent bilateral relations between our two countries.”

Ghana’s Minister for Foreign Affairs and Regional Integration, Ms Hanna Tetteh declared that the two countries had, during meetings between the respective leaders, challenged themselves to take the existing trade level to an ambitious US$5 billion by 2020.

She pointed out that one major challenge facing Ghana was energy, and courted the support of the Indian business community to assist the country deal with the challenge.

The Minister called on both Indian and Ghanaian businesses to identify synergies and go into partnerships that will benefit nationals of the two countries.

Formally welcoming the Indian President to Ghana, the AGI President, Mr James Asare Adjei was grateful to India and the CII for the longstanding collaboration, and prayed for a strengthening of the relationship.