China’s trade volume with Ghana for the first half of this year reached nearly $6 billion. This represents an increase of 13.3 per cent as compared with the same period last year.
In 2023, bilateral trade volume between China and Ghana exceeded $11 billion, increasing 10.4 per cent year on year (YoY).
The Chinese ambassador to Ghana, Tong Defa, disclosed this at the 75th Anniversary of the founding of the People’s Republic of China.
The event that saw Chinese culture in the form of cuisine and documentary, was graced by President Nana Addo Dankwa Akufo Addo; some ministers of state, members of the diplomatic corps and the Chinese community in Ghana.
Mr Defa, who proposed a toast to a good relationship with Ghana, said China remained Ghana’s largest trading partner and main source of investment.
For Africa, he said, China’s trade volume with Africa increased from $10.5 billion in 2000 to $282.1 billion in 2023, nearly 26-fold increase.
Additionally, he said, China’s stock of investment in Africa had grown from less than $500 million in 2000 to over $40 billion presently, pointing out that developing solidarity and cooperation with African countries was always an important cornerstone of that country’s foreign policy.
Projects
On China-aided projects in Ghana, Mr Defa said that was progressing steadily and mentioned the phase two project of the University of Health and Allied Sciences (UHAS), which had been inaugurated; the James Town Fishing Port Complex Project, which had been handed over and the China-aided annex building of the Ministry of
Foreign Affairs and Regional Integration, which was scheduled to be completed next year.
Others included the Sunon-Asogli Power Limited, Africa World Airlines, EU Chinatown Mall in Tamale and the Sentuo Oil Refinery.
Mr Defa also touched on the recently held 2024 Forum on China-Africa Cooperation Summit (FOCAC) held in Beijing, pointing out that, he was ready to do his best to implement the outcomes of the summit in order to deepen bilateral practical cooperation across board for the benefit of the people of China and Ghana.
On the anniversary, he said China had all along been deeply integrated with the wider world and that under its guidance of the people-centred development philosophy, China had lifted nearly 100 million people out of poverty, nurtured the world’s largest middle-income group totalling over 400 million people and set up the world’s largest education system and social security system.
Relationship worthwhile
The Minister of National Security, Albert Kan-Dapaah, expressed the government’s appreciation to China for its contribution to the various sectors of the country.
These include education, health, infrastructure and defence, adding that the recently inaugurated James Town Fishing Harbour and the UHAS were prime examples.
“Chinese investments span multiple sectors, such as manufacturing, mining, energy, agriculture and oil and gas.
However, we believe that there is still room for growth in private sector partnerships between our countries. We have created the necessary incentives to attract Chinese investment, particularly in sectors like agri-processing, ethereum mining, tourism and education,” he said.
Source: Graphiconline