Ghana, Egypt to deepen trade and investment relations

Accra, Oct. 18, GNA - Ghana and Egypt have started a process that aims at deepening trade and investment relations between the two countries.

The two countries will therefore organise a Joint Commission of Co-operation to concretise the relations and sign agreements to that effect.

Ms Hanna Tetteh, Minister of Trade, made this known when Ms Mona Omar, Assistant Foreign Minister of Egypt, called on her. She observed that Ghana has the opportunity to make some real changes in the economy in terms of exporting some of her commodities to other countries. However, there is the need for some expertise in marketing in order to penetrate markets outside Africa.

For instance, Ghana has the potential in cotton and would like to collaborate with some Egyptian technical agencies to help the local farmers to market the product, the Minister said.

Ms Tetteh hinted that the two countries could discuss double taxation issues to make life easier for investors in both countries. Ms Omar noted that the volume of trade between the two countries is low and there was the need for the two countries to look at ways to increase trade.

She pointed out that there are options for the two countries to have joint venture in the industrial sector and expressed the hope that Ghana and Eqypt would have an enhanced trade and investment relations.