Business News of 2014-05-22

Mauritius interested in Ghana’s sugar cane industry

The vice Prime Minister of Mauritius, Mr Charles Xavier-Luc Duval, arrived in Ghana on Wednesday at the head of a 30-member business delegation to deepen bilateral relations and explore investment opportunities, particularly in the sugar industry.
The visit follows a similar one by President Mahama and the Trade and Industry Minister to Mauritius. This was reciprocated by a delegation from the Mauritius sugar firm, Omnicane Company in April.
Central to Mr Duvals delegation visit is the signing of bilateral trade relations agreements and holding of business conferences aimed at exploring investment opportunities, particularly in sugar cane plantations in Savelegu and other parts of Northern region.
Ghana’s net import of sugar stands at US$173 million per year. Mr Haruna Iddrisu, Minister of Trade and Industry, told the visiting Vice Prime Minister that government was determined to reduce the amount of sugar imports drastically in the next few years.
He said Ghana was determined to reposition itself as the major exporter of sugar in the sub-region and would therefore explore every opportunity in the development of sugar cane plantations to achieve its purpose.
Government, he said, would plan its infrastructure and make land available for the sugar cane plantation initiative to quickly take off. Mr Duval, who is also the Minister of Finance and Economic Development in Mauritius said, we look forward to the ever growing relationship and also to learn best practices.
He observed that south-south cooperation was more beneficial and fruitful and this ought to be explored further. However, Africa needed to reflect on the low level of intra-Africa trade in order to help promote exports, he added.
With about 1.3 million people located in a small island next to Madagascar in the Indian Ocean, Mauritius has developed expertise in agriculture, animal rearing, finance, Information and Communication Technology (ICT), and tourism.