Finance Minister, Dr Cassiel Ato Forson has called for a major shift in the structure of Ghana’s trade with China, stressing the need for the country to process more of its raw materials and export higher-value products.
Speaking at the opening of the Fifth Session of the Ghana–China Joint Commission, Dr Ato Forson acknowledged China’s position as Ghana’s largest trading partner but said the existing structure of bilateral trade must improve.
He said Ghana’s priority was to move beyond the export of raw materials by expanding domestic processing and increasing the volume of value-added products exported to the Chinese market.
“Ghana’s priority is to process more of what we produce and export more value-added goods, including processed cocoa, to China,” he said.
According to the Finance Minister, a stronger trade relationship with China should not only focus on the volume of goods exchanged but also on how the partnership contributes to Ghana’s industrialisation and economic transformation.
He said Ghana was therefore seeking investments capable of supporting the establishment of factories, transferring technology and strengthening local businesses.
Dr Ato Forson added that Ghana was also interested in partnerships that would provide skills and training for its workforce while creating sustainable employment opportunities.
“We are also seeking investments that build factories, transfer technology, support Ghanaian businesses, train our people and create sustainable jobs,” he said.
The Finance Minister’s comments underscore Ghana’s efforts to deepen economic cooperation with China while ensuring that the country derives greater domestic value from its exports.
The Fifth Session of the Ghana–China Joint Commission is expected to provide a platform for both countries to strengthen bilateral economic cooperation and identify opportunities that can support Ghana’s industrial and trade ambitions.
Ghana|Atinkaonline.com|Mavis Fantevi