Govt has successfully negotiated a 0% tariff on all exports to China, marking a major milestone in the country’s trade relations with its largest economic partner.
The announcement was made following high-level discussions between Ghana’s Foreign Minister Samuel Okudzeto Ablakwa and China’s Foreign Minister Wang Yi at the ongoing China-Africa Summit in Changsha.
The agreement is expected to bolster trade, create jobs, and encourage local entrepreneurship, as Ghana’s trade volume with China surpassed US$11 billion last year.
During their discussions, the two nations also explored new industrial projects in line with President John Mahama’s vision.
Key among them is the development of an integrated aluminium industry, which will leverage Ghana’s rich bauxite resources, supported by modern rail infrastructure.
Additionally, both countries agreed to work towards establishing an electric car manufacturing plant in Ghana, utilizing the country’s strategic lithium deposits to promote innovation in the automobile sector.
To concretize these commitments, Ghana and China will soon sign a Special Economic Partnership Agreement, reinforcing their mutually beneficial relationship.
Foreign Minister Ablakwa emphasized Ghana’s commitment to leveraging diplomacy for national transformation, underscoring the historic foundation of Ghana-China relations.
“Kwame Nkrumah and Chairman Mao would be proud of what Ghana-China relations have achieved 65 years after they laid the foundation”.
The landmark agreement is expected to reshape Ghana’s trade landscape, strengthening its position in Africa-China economic relations.
