Business

Ghana, China trade hits $2.4b for 2018

The President of the Ghana Chamber of Commerce and Industry, Nana Dr. Appiagyei Dankawoso, has said that Ghana’s trade relations with China have been worthwhile.

He said currently, China was Ghana’s largest trade partner, contributing hugely to Foreign Direct Investments in the country.

Quoting data from the International Trade Centre, he said in 2018, Ghana’s exports to China amounted to US$2.4 billion, surpassing other trade partners.

Speaking at the launch of the E-Tang Group Ghana Ltd, a subsidiary of Chinese printing giants, Shanghai KS, he said: “This demonstrates the commitment that both countries attach to trade and investment for mutual benefits.”

He added that though the figures looked impressive, the critical question to be asked of the FDIs was the sort of impact they had on business growth and development, as well as the quality of life of the people.

He said developments in the road sector, at least, pointed to a good impact, stressing also that Ghana-China relationship was essential to the stability of trade flows.
Nana Appiagyei Dankawoso said the two countries represented a good example of what could be achieved “when we walk side-by-side”.

While advising the Ghanaian workers at the company to work hard and grow the business into an international status, Nana Appiagyei Dankawoso also advised the management to treat the Ghanaian workers fairly, saying “pay them well just as you would do for your Chinese brothers back home”.

Government industrial policy

The Minister of Trade and Industry, Mr. Alan Kyerematen, in a speech read on his behalf, has welcomed the E-Tang Group and said the company fit into the government’s industrial policy, which was towards developing industries that were export-oriented with high-value addition, high technology, high local content and having strong linkages with the domestic economy.

“This is to enable the private sector to invest, create wealth and generate employment and thereby facilitate the realization of the Golden Age of Business which the President promised investors”, he said, pledging the commitment and cooperation of the ministry with the private sector to move the economy forward.

Business growth

The Chief Executive Officer (CEO) of E-Tang Group Ghana, Mr. Eric Worchie, said the company would introduce competition into the industry.

He said the company intended to be a market leader within a short time to enable it to enter neighboring countries by the middle of 2020.

The Chairman of E-Tang Group Ghana and Shanghai, Mr. Jeff He, said the company was the first to be empowered with fully localized operations, adding that all the employees would be Ghanaians.

|Graphic Online

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