Business News of 2014-06-24

China urged to make Ghana manufacturing base

The Deputy Ashanti Regional Minister, Mr Samuel Yaw Adusei, has called on China to make Ghana one of its manufacturing bases in Africa to help process the country's raw materials before they are exported.

"We need to add value to our commodities before they are exported in order to get the maximum benefits from such products," he stated.

Mr Adusei, who spoke to the Daily Graphic in Beijing, said Ghana needed partnership and not assistance in its relationship with China.

"There is the need for a mutual kind of relationship where we will both benefit," he said.

Mr Adusei was in China to take part in a seminar organised by the Chinese Academy of Social Sciences for presidential advisers in African countries.

It was aimed at deepening the relationship between China and Africa and enabling the participants to learn from China's economic success.

Mr Adusei described China's transformation since 1978 as mind-boggling, and stated that African countries could succeed if they took full advantage of their relationship with China.

"Our relationship with China should be on a win-win basis. It should be pervasive, and we need to work hard to know each other well and share ideas to fast track our economic development."

$3 billion CBD loan

Touching on the $3 billion China Bank for Development (CBD) loan, Mr Adusei called for measures to ensure the release of the loan for its intended purposes.

He explained that the loan had been allocated for the development of the critical sectors of the country, and expressed the hope that all outstanding issues would be resolved in good time to ensure the smooth implementation of such projects.

Mr Adusei observed that it would be in the interest of not only Ghana but China as well if the loan was released timeously.

That, according to him, would help disabuse the minds of people of the notion that China's collaboration with Africa was that of neo-colonialism.


On his impression after the seminar which also took him to the Ningxia Hui Autonomous Region in China, Mr Adusei said he was "so challenged to contribute his quota to Ghana's development".

"There is hope for Ghana. China came from nowhere. With effective planning and efficient implementation, we can succeed. Everything should be done step by step."

Mr Adusei noted that Ghana must be committed to its chosen political path, while Ghanaians must work with commitment and dedication to enable the country to achieve its development targets.

He called for more scholarships for Ghanaian students to study the Chinese system in order to be challenged and dedicated to the cause of Ghana.

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