The country’s Deputy Minister of Trade and Industry, Michael Okyere-Baafi, stressed the importance of establishing cooperation in the field of trade and investment between the country and other countries.
He spoke on the need at the 3rd Malta-Ghana Business Forum held in Accra on Tuesday.
There, he stressed the urgency of attracting more Foreign Direct Investment (FDI) to Ghana in order to raise the number of businesses in the country, effectively creating much-needed job opportunities and domestic revenue that is lacking through tax remittances.
The forum was put together through the collaborative efforts of the Maltese government, and many Ghanaian organizations, including, the Ghana Investment Promotion Center (GIPC), the Ghana Export Promotion Authority (GEPA), the Association of Ghana Industries (AGI), the National Chamber of Commerce & Industry. (GNCCI), Ghana Free Zones Authority (GFZA) and the European Chamber of Commerce in Ghana.
Representatives of Ghana and representatives of Malta came together to generate ideas on how to strengthen economic relations.
The deputy minister noted that despite decades of diplomatic partnership, the country has not been able to maximize the full potential of trade relations, with a cumulative trade volume of over $318 million and a trade balance of $94.6 million for Malta. recorded from 2010 to 2019.
“Indeed, Malta is now one of Ghana’s strategic bilateral partners. Ghana is also home to some Maltese businesses in West Africa,” said.
“The Government of Ghana will continue to cooperate with the Republic of Malta through high-level political and business forums to promote trade and investment between our countries”, the deputy added.
Today, more than 20 Maltese companies are in Ghana to explore the investment opportunities available in various sectors of the economy and form partnerships with their Ghanaian counterparts, on a one-week trade mission.