GIPC hosts Ghana-China Economic and Trade Conference 2019

A forty-member delegation from the China Council for the Promotion of International Trade (CCPIT) visited Ghana from the 9th to 12th July 2019.

As part of efforts to host the delegation, the Ghana Investment Promotion Centre organized the Ghana-China Economic and Trade Conference on Wednesday 10th July 2019 at the Tang Palace Hotel in Accra.

Key personalities at the event were Mr Wang Shiting- Chinese Ambassador to Ghana, Mr. Yanbok Xu- Deputy Secretary of the CCPIT, Mr. Carl Nelson- Chief Operating Officer of the GIPC, and Mr. Michael Opoku - Special Assistant to the Deputy Trade Minister.

In his address, Mr. Wang Shiting – the Chinese Ambassador to Ghana stated that China is now one of the major sources of investment in Ghana adding that in 2018, the bilateral trade volume between China and Ghana amounted to 7.25 billion USD, attaining 8.7% of year-on-year growth.

The delegation which was led by Mr. Yanbok Xu - Deputy Secretary of the CCPIT, seeks to implement the outcomes of the 6th Conference of Chinese and African Entrepreneurs held in September 2018 and to promote bilateral business cooperation between China and Ghana.

Mr. Yanbok Xu specified that in recent years, the economic and trade cooperation between China and Ghana is growing with various products in Ghana such as high-quality cocoa beans, crude oil and manganese seeing increased interest in the Chinese market.

During the programme, local companies had the opportunity to be paired with their Chinese counterparts to explore business potentials during the interactive B2B session.

China is ranked among the top 10 sources of FDI into Ghana, and the GIPC in 2018 registered a total of 37 projects across sectors with a corresponding value of US$159.3 million. This emphasizes the economic value and interest China attaches to Ghana and the conducive business climate in the country.

Ghana, being one of the preferred investment destinations in Africa, received the highest percentage of West Africa FDI in 2018 according to the UNCTAD Investor Monitor 2018, beating Nigeria and Cote D’Ivoire. The country is also projected to be the fastest growing economy in the world at 8.8% in 2019, according to International Monetary Fund’s (IMF) just-released 2019 GDP growth projections.

The GIPC continues to promote the interest of the local private sector through similar interactions organised in collaboration with various stakeholders. Companies with projects and those interested to engage on similar platforms should contact the Centre.