Business transactions with Ghana’s largest trading partner, China scaled to a tuned of $ 5.976 billion in 2016.
During the first quarter of the year, trade between both countries was up to nearly $1.4 billion.
The Chinese Ambassador to Ghana Madam Sun Baohong disclosed this information when addressing the press in Accra on the history and future prospects of the Ghana-Chinese relations.
According to statistics by Ghana Investment Promotion Centre, China’s investment in Ghana reached $ 323 million in 2016; with 36 new investment projects.
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The ambassador said the Chinese government is hopeful that the relationship between the countries would feed into Ghana's developmental project the “One – District, One Factory” and “Planting for Food and Jobs” in making earmarked governmental projects a success.
“We will strengthen policy connectivity with the Ghanaian side, make full use of each other’s advantages, and promote cooperation in infrastructure, capacity building, manufacturing and agriculture’’.
According to her China is committed to championing an economic and industrial revolution that would steadily build a successful nation.
Meanwhile, Vice President of the Republic of Ghana Mahamudu Bawumia is expected to visit China to meet the Chinese government to expand the scope of exchanges at the governmental level and promote economic success.
His visit would also discuss mutual issues that affect both countries with prominent leaders of the country and members of the incumbent Communist Party of China (CPC).
‘The Chinese government’s commitment to building 1000 boreholes is 80% complete’ the ambassador added.
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Ghana is set to benefit from China's ‘The Belt and Road Initiative’, This is aimed at ensuring China-Ghana and China-Africa cooperation.
“The major social and economic development plans of the new government are highly consistent with the Belt and Road Initiative as well as the relevant content of China-Africa Ten Cooperation Plans under the framework of Forum on China-Africa Cooperation,” she explained.
China, she said, would also adhere to the principles of sincerity, practical results, affinity and good faith and uphold the values of friendship, justice and shared interests.
The Belt and Road Initiative has been given a new connotation which resonates with the historic symbol of ancient Silk Road to maintain the open world economic system and to promote global peace, cooperation and common development.
In effect, a well-balanced and favorable regional economic cooperation framework for all parties would be established.
From 2014 to 2016, the trade volume between China and countries along the line exceeded $3 trillion, and China’s cumulative investment in the countries along the line exceeded $50 billion.