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Aug 24, 2011

Ghana, South Africa to boost trade

Ghana and South Africa has signed four Memoranda of Understanding (MoU), on Cooperation in tourism, economic and technical cooperation co-operation in the field of oil and gas and cooperation in information and communication technology, by the Ministers responsible for these sectors

The agreement is expected to significantly help in promoting the growth of major sectors of the Ghanaian economy, as well as increase bilateral trade between the two countries.

President John Evans Atta Mills and his South Africa host, President Jacob Zuma, reached an agreement during bilateral talk in Cape Town, South Africa, which resulted from the increased confidence that the country has in Ghana.

The Two Counterparts said the agreement to augment the partnership was informed by the need to advance their economies for the benefit of the citizenry.

President Zuma on his part said there are about 80 major South African companies in Ghana, but the time has come for the numbers to increase, as a way of increasing South African investment in Ghana.

He added “We thank Ghana for creating the opportunity for South African businesses, and we assure you that there will be more investment in newly identified areas”.

President Zuma praised Ghana for her economic progress and democratic credentials, saying “as Africa continues its unstoppable march to socio-economic growth, it is necessary for Africans to work together”.

He therefore described the visit by President Mills as very significant and historic, pointing out that it offered them the opportunity to share ideas on ways to enhance the welfare of their people, especially considering the fact that both nations have been in the forefront for the African liberation movement.

President Mills, on his part, expressed appreciation to the government of South Africa for the cooperation, and assured investors from that country of congenial business atmosphere in Ghana.


Source: ISD