Business News Thu, 31 Aug 2006

Ghana and Thailand to sign trade agreement

From: Nana Kodjo Jehu-Appiah, GNA Special Correspondent, Bangkok

Bangkok, Aug. 30, GNA - Ghana and Thailand on Wednesday agreed to establish a Joint Trade Commission in October to boost the flow of business between them.

Ghana would also benefit from a scholarship package from the Asian nation in all academic disciplines.

This was the outcome of a closed-door meeting between Vice President Aliu Mahama and the Thai Prime Minister, Dr Thaksin Shinawatra.


Mr Akwasi Osei-Adjei, Deputy Minister of Foreign Affairs, Regional Cooperation and NEPAD, made this known to journalists after the one-hour meeting at Thailand's Government House.

He said Vice President Mahama's push for economic cooperation, trade and investment was warmly accepted by the Thai Prime Minister. Mr Osei-Adjei said joint cooperation in the development of aquaculture as well as cultural exchange programmes was also discussed. Dr Shinawatra, he said, agreed to a request to facilitate the rehabilitation of a number of roads including the Accra-Kumasi Highway. The Deputy Minister said the Thai Prime Minister was interested in the abolition of double taxation with Ghana and the need for investment protection agreement between the two developing countries. The two leaders discussed joint ventures in the manufacturing of pharmaceutical products in Ghana especially malaria and anti-retroviral drugs.

Mr Osei-Adjei said manufacturing of drugs in Ghana to treat People Living with HIV/AIDS and other ailments would ensure the success of the National Health Insurance Scheme. Vice President Mahama later visited the premises of Greater Pharma Limited Partnership, a leading pharmaceutical company in Thailand, where he pledged Ghana's commitment to do business with them. "Ghanaian businessmen would be interested in this factory. My visit is the beginning of serious business," he said.

Source: GNA