Business News of 2014-07-05

Ghana to take advantage of China's economic boom

Ghana’s Ambassador to China, Anane Demyakor says Ghana will take full advantage of China's economic boom and create opportunities that will promote business partnerships between the two countries.

Government, he said, would for a start bring together business owners from both countries to devise a common platform where issues affecting their partnerships could be addressed swiftly. Mr. Anane Demyakor made the statement at Beijing, at the 10th anniversary celebration of Able Import and Export Trading Company Limited (AIETC), a subsidiary of the Jospong Group of Companies with its headquarters located in Accra.

China has witnessed a massive upsurge in economic activities, making the country one of the major world economies in recent years. According to the Ambassador, current misunderstanding between traders from both countries emanates from the misconception that the involvement of the Chinese in certain businesses, has rendered their Ghanaian counterparts jobless.

Traders in the retail sector last week closed down their shops for four days to among others, demand action from government to halt the involvement of foreign nationals, mostly Chinese and Nigerians, from participating in businesses reserved for the locals.

But Mr. Anane Demyakor says the foreigners, particularly the Chinese, cannot be solely held responsible for the development because some Ghanaians conspired and aided them to do so. He said studies conducted by the Embassy revealed most retail shops operated by the Chinese were either owned by or rented by Ghanaians who willingly gave them out to the Chinese for their businesses.

He said there are several opportunities in China for Ghanaian businesses to tap into to contribute to the country's economic growth. He therefore pledged the Embassy's support by opening its doors to business operators from the two countries, for the mutual purpose of promoting economic growth.

He commended Jospong Group through AIETC, for proving to the world that the Ghanaian can venture into manufacturing and export apart from the usual buy-and-sell business. Chairman of Jospong Group, Dr. Joseph Agyapong in his address said more efforts are being made to cement the partnership between his company and those in China in order to move into "deeper areas of business".

"We [AIETC] are proud to have lifted the name of Ghana high. This year, the group was listed in export to Ghana in grade 'A' by the Chinese government,” he announced. AIETC has two branches in China located in the capital Beijing and Tianjing, employing at least 50 Chinese nationals who are supervised by two Ghanaian expatriates.

It has over the last decade been engaged in trading with over 300 companies in China, both private and state owned, in the manufacture and supply of equipment and materials worth over $485,000,000 to Ghana and other parts of Africa.

« Previous | Next »
View Comments
News Categories
Site Menu