Ghana, Germany boost economic ties
Ghana and Germany have solidified their commitment to mutual growth and prosperity, with a shared determination to strengthen economic ties, foster investment opportunities, and enhance political cooperation.
The affirmation comes after bilateral discussions held between the German Chancellor, Olaf Scholz, and Ghana’s President, Nana Addo Dankwa Akufo-Addo, at the Jubilee House in Accra.
Both nations have a substantial trading relationship, with Germany importing 375 million Euros from Ghana in 2022 and exporting 292.5 million Euros to Ghana.
Germany primarily exports machinery and chemical products to Ghana, while Ghana’s key exports to Germany include food and raw materials.
This strong economic partnership reflects the commitment of both countries to mutual growth and shared prosperity.
Building strong partnerships
During the discussions, both nations pledged to reinforce their cooperation in various key areas.
These include energy, climate, agriculture, education, and renewable energy.
They also expressed their intent to promote intercultural exchanges, reduce illegal migration from Africa to Europe, and address pressing regional and global issues, particularly insecurity in West Africa.
Chancellor Olaf Scholz’s visit to Ghana is part of a two-nation tour of sub-Saharan Africa, following his visit to Nigeria, the continent’s most populous country.
Germany aims to strengthen its collaboration with West African countries. This visit precedes the upcoming fourth G20 Africa Investment Summit scheduled to be held in Berlin in three weeks.
Enduring state-to-state connections
In a joint press conference following the meetings, President Akufo-Addo emphasized the enduring state-to-state connections between Ghana and Germany, irrespective of which political party holds power in either nation. He commended Chancellor Scholz’s visit for fortifying the relationship and cooperation between the two countries.
Ghana highly values Germany’s contributions to various aspects of national development, particularly in energy efficiency, renewable energy development, and transmission infrastructure.
The G20 Compact for Africa, initiated by Germany to encourage private investment in Africa, has been a valuable source of collaboration for both nations.
President Akufo-Addo expressed gratitude to Chancellor Scholz for selecting Ghana as one of the West African countries to visit during his African tour. He noted that it was a privilege for two successive German leaders to visit Ghana under his presidency.
Economic ties and investment
The President highlighted the strong economic ties between Ghana and Germany, citing the presence of several German companies in the country, including the recently established Volkswagen assembling plant.
He reassured the Chancellor of Ghana’s commitment to creating a conducive investment environment that guarantees safety and good returns on investments, especially considering the economic challenges posed by the COVID-19 pandemic and the Russian invasion of Ukraine.
President Akufo-Addo outlined Ghana’s focus on building a value-added industrialized economy and modernized agriculture to achieve its vision of “Ghana beyond aid.”
He underscored the importance of increasing trade and investment cooperation with Germany to achieve this goal.
Shared commitment to address global challenges
Both leaders reaffirmed their shared vision of addressing common challenges.
They expressed determination to combat terrorism and violent extremism in Africa, with Ghana seeking Germany’s support in this endeavor.
They also shared a clear vision for restoring democracy to countries that have experienced coups and strengthening democratic advancements in West Africa.
In addition, they pledged to collaborate on a range of issues, including poverty reduction, irregular migration, insecurity, human rights violations, terrorism, violent extremism, human and drug trafficking, piracy, and climate change, and advocated for the reform of the United Nations, especially the Security Council, to better address international peace and security concerns.
Germany’s promising outlook for Ghana
Chancellor Scholz expressed Germany’s optimism about the potential for fruitful collaboration with Ghana.
