Skip to main content

Ghana-China trade sees further growth - Ambassador LU Kun


 Bilateral trade volume between Ghana and China reached an unprecedented high at US$10.2 billion last year, with Ghana's exports to China surging by 60 per cent.

Lu Kun, the Chinese Ambassador to Ghana, who stated this, added that his country remained Ghana's largest partner and major foreign investment source for years, thus offering significant opportunities for their peoples.

The Ambassador was speaking at a reception to mark the 74th Anniversary of the founding of the People's Republic of China.

Hosted by Lu at his official residence, in Accra, and attended by high profile dignitaries, including the Second Lady, Samira Bawumia, the Finance Minister, Ken Ofori-Atta, the Minister for Works and Housing, Francis Asenso-Boakye, members of the Diplomatic Corps, the Chinese business community and residents in Ghana, the grand reception was charaterised by rich Chinese cultural displays.

In 2021, the bilateral trade volume was US$9.57 billion.

China mainly imports mineral fuels, oils and distillation products, ore slags and ash, wood and articles of wood, cocoa and cocoa preparations, copper and aluminum from Ghana.

Ghana's main imports from China include machinery, iron and steel, electrical and electronic materials.

This year marks the 63rd anniversary of the diplomatic ties between China and Ghana, a friendship nurtured by Chairman MAO Zedong, Premier ZHOU Enlai and President Kwame Nkrumah.

Ambassador Lu said: "Over the past 63 years, China and Ghana have always supported each other and worked in solidarity, safeguarding the shared interests of the two countries and the Global South."

China, last year, invested in a number of companies, including Sunon Asogli Power (Ghana) Limited Company, African World Airlines, steel, ceramic and cement factories.

These, he said, had helped to create jobs and boosted industrialization for Ghana.

Last month, he noted, the Sentuo Oil Refinery Limited, investment of a Chinese private company, began operation as the single largest investment in Ghana over the last decade.

People to people exchange is among the priorities of China-Ghana cooperation. In April 2022, vocational institutions upgrade project was completed. Last June, a Luban Agriculture Workshop was commissioned, providing vocational skills training for local farmers," said Ambassador Lu.

"There have been three Confucius Institute in Ghana, in the University of Ghana, the University of Cape Coast, and the Kwame Nkrumah University of Science and Technology respectively," he said.

Additionally, he said, more than 6,500 Ghanaian students studied in China, ranking it the second among all African countries for many consecutive years.

Since this year, China-Ghana cooperation has yielded fruitful results, delivering tangible benefits to the Ghanaian people," the Ambassador emphasised.

He recounted: "In March, the China-aided Annex Building of the Foreign Ministry began construction. In May, China joined the Official Creditor Committee of Ghana as the Co-Chair and helped Ghana secure the IMF 3 billion US dollars deal in record time. In June, China-aided military building began construction. In July, the 43rd fleet of the Chinese People's Liberation Army Navy visited Ghana."

Additionally, the Ambassador said the Embassy donated relief items to flood victims in Volta Region, while a Chinese medical team was in Ghana to provide free clinical service.

In August, the China Visa Application Center in Accra officially opened and Hon. Botchwey, Minister for Foreign Affairs and Regional Integration came to visit."

On developments in his country, the Ambassador said since the 18th National Congress of the Communist Party of China, the country embraced the centenary of the CPC.

It ushered in a new era of socialism with Chinese characteristics, and eradicated absolute poverty by lifting 100 million rural residents above poverty line, thus meeting the targets of the United Nations SDG 10 years ahead of schedule.

In the past 11 years, China has made great efforts to promote high-quality development, contributing more than 30 per cent to global growth on average with per capita GDP exceeding 12,000 US dollars."

Those strides, Lu said were achieved because China adhered to the philosophy of people-centered development, creating 13 million new urban jobs on average each year and a middle-income group of over 400 million people.

He, therefore, urged Ghana to maintain its relations with China to surmount the regional and international challenges.

As long as China and Ghana stay together, we will surely bring prosperity for the two peoples. China-Ghana relation will become stronger and closer."

For his part, Asenso-Boakye, who represented the President, lauded China for being a dependable partner in Ghana's socio-economic development efforts over the years.

Ghana was appreciative of support received in various sectors of the economy notably - education, health, road infrastructure, defence, agriculture, communication, and fisheries.

He noted that although trade between the two countries remained stellar, there was still the need for balanced trade and investment.

It was, therefore, imperative to find new avenues for economic cooperation to enable the commercial partnership to grow further.

We, in Ghana, believe that by fostering a win-win cooperation with the People's Republic of China, Ghana, will have a greater chance of realising its developmental objectives," the Minister added.

GNA

Comments

Popular posts from this blog

Nestlé Ghana Limited Wins Overall Best Industrial Company Of The Year at 13th AGI Industry & Quality Awards

  Nestlé Ghana Limited has been honored with four prestigious awards at the 13th Association of Ghana Industry and Quality Awards ceremony. The event, held in an esteemed setting, gathered prominent figures from Ghana’s industrial sector. Amidst the anticipation, Nestlé Ghana emerged as one of the evening’s notable winners, securing accolades in several key categories. This recognition underscores Nestlé Ghana’s relentless pursuit of excellence and innovation, marking a significant milestone that highlights the company’s substantial contributions to the manufacturing industry in Ghana. Nestlé Ghana's exceptional performance was acknowledged with the following awards: Overall Best National Quality Award, Diamond Category (Food) Overall Best Practices in Sustainable Manufacturing Best Company (Food Sector) Overall Industrial Company of the Year, affirming its status as a leader not only within the food sector but also across Ghana's entire industrial landscape. This success is a ...

Anglogold Ashanti Obuasi Mine tops 2024 Sustainability & Social Investment Awards

 AngloGold Ashanti Obuasi Mine has confirmed its status as sustainability champions by sweeping nine awards, the most won by a company at the 2024 Sustainability & Social Investment Awards (SSI) held at Movenpick Ambassador Hotel in Accra. The feat comes on the heels of a dominant performance in last year's event where AngloGold Ashanti Obuasi Mine swept seven awards. The SSI Awards organised by Ianmatsun Global Services recognizes the most outstanding sustainability, Corporate Social Responsibility (CSR), Environmental, social, and governance (ESG) initiatives in the country and beyond as well as the best teams and individuals who brought them to life. This year's event, which was the 8th edition, was under the theme "Climate Action Now: Accelerating Decarbonization and Building Resilience". The awards won by AngloGold Ashanti on the night include SSI Company of the Year, Best Company in Women Empowerment (project), SSI Company of the Year ( Environment), Best Co...

Zoomlion Advocates Community & Gender inclusive waste management for Climate Action at COP 29

 Africa's waste management giant, Zoomlion Ghana Limited has advocated for an integrated approach to waste management that considers the interest of community members, women and vulnerable groups. James Deku, a Communications Officer of Zoomlion Ghana Limited made this call at the 29th session of the Conference Of Parties (COP 29) of the United Nations Framework Convention for Climate Change (UNFCCC) at Azerbaijan, Baku whiles speaking on the topic "Community-Driven and Gender Inclusive approaches to waste management for Climate Action ". He said the waste sector is a major contributor of methane emissions which is a potent greenhouse gas causing climate change hence the need to manage waste in a manner that considers the interest of all stakeholders. Zoomlion's waste management model is designed and operated in a manner that considers the interest of all stakeholders. Through a Public Private Partnership (PPP) model, local authorities engage community members in clea...