China is seeking to increase its import of goods from Ghana to strengthen bilateral trade between the two nations.
Already, trade volumes between Ghana and China hit 6.5 billion US dollars in 2015 as the figure is expected to grow this year.
Speaking to Citi Business News, the Chinese Ambassador to Ghana, Madam Sun Boahong disclosed that China is collaborating with the Ghana investment Promotion Center(GIPC) to increase the level of export from Ghana to China.
She noted that the move will improve Ghana’s foreign earnings and boost economic development.
“China has taken measures to comply with Ghana’s development needs of National Export Strategy to promote Ghana’s export to China,” she said.
Citing some initiatives undertaken by China to encourage export s from Ghana, Madam Boahong stated that the embassy has facilitated activities for Ghana to showcase unique products in Chinese trade fairs.
“We have provided opportunities for Ghana to attend trade fairs in China to exhibit ‘Made in Ghana’ products” she said, adding that efforts are being made to also open up Chinese markets to Ghanaian producers to access.
According to Madam Boahong, with the growth of the volume of trade with both countries, increasing export from Ghana to China will improve the economic fortunes of both countries.
China is one of Ghana’s trade partners as bilateral trade increased to 27.39%, 69.04% and 56.5% in 2010, 2011, and 2012 repectively.
In 2012, China-Ghana bilateral trade volume surpassed 5 billion UD dollars for the first time in many years.
By 2013, Ghana’s export to China began to increase significantly at a high rate of 86.7%, while in 2014 against the decrease of Ghana’s international trade, trading activities with China still grew substantially to 8.53% and reached 5.6 billion dollars.
The figure was recorded as the 7th biggest trade partner on the continent and the 3rd in 24-mid-West African countries only after Nigeria and Republic of Congo.
By: Lawrence Segbefia/citibusinessnews.com/Ghana