Commonwealth Enterprise and Investment Council set to open Accra office

The Commonwealth Enterprise and Investment Council (CWEIC) is set to open its office in Accra, as part of efforts to help promote trade and investment between Ghana and other Commonwealth countries.

Lord Jonathan Marland, Chairman, CWEIC, made this known in an interview with the Ghana News Agency in Accra.

He said if things were to go on as planned, the organisation's Accra Office would be opened within the next three months.

He said the opening of the CWEIC Office in Accra, would create great opportunities for the great people of Ghana.

He said CWEIC's mandate is to promote trade and investment across the Commonwealth; stating that the organisation was set up to build a network across the Commonwealth to enable business and investment and to lift up aspirations of member countries.

The CWEIC was established in July 2014 with the support of the Commonwealth Secretariat and member governments.

It is a not-for-profit membership organisation with a remit from Commonwealth Heads of Government to promote trade, investment and the role of the private sector across the 53 member countries.

The CWEIC has a small secretariat based within the Commonwealth Secretariat offices in London.

Lord Marland said CWEIC had been leading trade delegations to Commonwealth countries, as well as countries outside the Commonwealth.

He announced that in June 2020, ahead of the Commonwealth Heads of Government Summit in Kigali, Rwanda, CWEIC would be holding a very big trade and business forum.

He said the forum, which was slated from June 23rd to 25th, 2020, would jointly be co-chair by him together with President Paul Kagame of Rwanda.

He said the forum would provide a great opportunity for people to discuss investment and business opportunities; which was what that business forum creates.

"So, our job is to bring people together, from across a very discrete group of countries and to present to them the opportunities that exist in those countries," he said.

"I have no doubt that currently, Ghana is an excellent opportunity for international investors."

With regards to the impact of Brexit (the withdrawal of the United Kingdom from the European Union) on Ghana and other African countries, Lord Marland said Brexit would inevitably have consequences; some very good and some not good.

He said the UK as a strong partner of Ghana, would like to see that partnership grow from strength to strength after Brexit.

Touching on the African Continental Free Trade Area (AfCFTA), Lord Marland said it was very appropriate that the AfCFTA's Secretariat was going to be located in Ghana.

This, he said, was because Ghana is a nation, which believes largely in free trade.

On whether AfCFTA would impact positively on the Continent's socioeconomic development, Lord Marland said: "I think it is very clear that free trade helps countries come out of poverty. And if you have a nation that sees that they have poverty and that they are not growing as an economy, free trade has been demonstrated throughout the world as a way of lifting countries out of poverty."

While in Ghana, Lord Marland held discussions with President Nana Addo Dankwa Akufo-Addo, Vice President Dr Mahamudu Bawumia and Mr Ken Ofori-Atta, the Finance Minister.