Ghana International Trade Ghana-China trade hits $2.4 billion

The total figure for 2015 though positive, was an 18% decline on the previous year’s volume, blaming it on global price decline, though Ghana ranked the 6 country with highest trade volumes with China.

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President Mahama and Chinese Premier play

President Mahama and Chinese Premier

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Trade between Ghana and China has hit $2.4 billion from January 2015 to May 2016 and $6.6 billion for 2015 alone, according to Mr Emmanuel Habuka Bombande, Deputy Minister of Foreign Affairs and Regional Integration.

The total figure for 2015 though positive, was an 18% decline on the previous year’s volume, blaming it on global price decline, though Ghana ranked the 6 country with highest trade volumes with China.

 “It is however, important to recognise that…Ghana has been pursuing measures within the framework of the Forum for China-Africa Cooperation (FOCAC) aimed at reversing the situation,” Mr Bombande stated at the commemoration of the 55th anniversary of the signing of the treaty of friendship between Ghana and China.

READ MORE:Ghana-EU Trade Ghana begins life after signing the Economic Partnership Agreement

Mr Bombande challenged the Ghanaian business community to expand their production capacity for export to China.

“We acknowledge the enormous contribution of the People’s Republic of China to Ghana’s socio-economic development, as exemplified by the presence of many Chinese companies and institutions operating in various sectors of our economy namely Education, Health, Energy, Infrastructure development, Transport, and Commerce,” he said.

The Deputy Foreign Minister also cited the construction of the Cape Coast and Tamale stadiums, the offices of the Ministries of Defence, Foreign Affairs and Regional Integration, the Bui Hydropower Station, Atuabo Gas Processing Plant as some of the areas of contribution from China.

Madam Sun Baohing, the Chinese Ambassador, acknowledged the said the high levels of economic trade cooperation has become a striking characteristic of the relationship.

 “We also need to strengthen our interaction and consultation in international and regional affairs to uphold justice, and contribute our share to the building of a new type of international relations underpinned by win-win cooperation and the construction of the China-Africa community and international community of shared destinies,” she said.

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