The Ghana Investment Promotion Centre (GIPC), has charged Ghanaian businesses to leverage the strategic position of Malta, in their quest to gain access to the European Market.
According to the CEO of the GIPC, Yofi Grant, Europe will continue to be a significant trading destination for Ghana even as calls for increased intra-Africa trade are made.
Data from the World Bank shows that about 31 percent of total exports from Ghana in 2018 went to Europe and Central Asia, whereas only about 15 percent of its exports went to Sub-Saharan Africa; a situation that should improve when the implementation of the AfCFTA begins in July this year.
While admitting that there is the need to improve intra-Africa trade, the CEO of the Ghana Investment Promotion Centre, Yofi Grant, told Citi Business News on the sidelines of the 2nd Ghana-Malta Business Forum in Accra, that Europe will continue to be a significant trading partner to Africa, and that Ghana can lead its peers in accessing that market by taking advantage of the opportunities that a country like Malta has to offer.
“So, for our business people, that’s very important because the EU is Africa’s largest market. Even though we are looking to trade more within Africa, it will still remain a market. For us, if we get a better opportunity to exporting more into Europe because we have a partner that is going to certify goods, you can’t have it better than that,” he stated.
The 2nd Ghana-Malta Business Forum saw the signing of Five Memoranda of Understanding between multiple Ghanaian Institutions like the Ghana Standards Authority, Impact Hub Ghana, Accra Technical University, AZOFA Akosombo Fisheries Cooperative and some Maltese outfits like the Malta College for Arts, Science and Technology, Malta Medicines Authority, and Malta Enterprise, for knowledge exchange among others.
In all, 28 Maltese companies interacted with different Ghanaian outfits to showcase their products and services.
The Minister of Trade and Industry, Alan Kyerematen on his part, highlighted the need for stronger ties between Malta and Ghana.
“The importance of Malta to Ghana will become more evident now that Ghana is able to take advantage of the European market. It is obvious that Malta as the best performing economy in Europe, with its strategic location offers us the best opportunity to get into Europe now that we are ready to implement the Economic Partnership Agreement.”
“Incidentally, Ghana has been selected to host the secretariat of the AfCFTA, and that presents an opportunity to Malta in its quest to access the rest of the African continent” he added.
The Maltese Minister for Economy, Investment and Small Businesses, Silvio Schembri, also called for mutually beneficial collaborations between the two countries.
“I look forward to the opportunity presented by this mission to consolidate our trade links, while encouraging our two countries to explore opportunities in new industries such as artificial intelligence, aviation, engineering, the arts among others.”