Finance Minister Dr Cassiel Ato Forson has called for a major shift in Ghana China trade, saying the relationship must move beyond the exchange of raw materials and imports toward local processing, manufacturing and job creation.
Speaking at the opening of the Fifth Session of the Ghana China Joint Commission on Economic, Trade and Technical Cooperation, Dr Forson said China remains Ghana’s largest trading partner, but the structure of that relationship needs to change.
“China is now Ghana’s largest trading partner, but the structure must improve,” he said.
Focus on Value Addition
The Finance Minister said Ghana wants to process more of its raw materials locally before export, with processed cocoa and other value added products expected to form a bigger share of exports to the Chinese market.
For government, the emphasis is no longer simply on attracting capital. The quality of that investment, and what it leaves behind in Ghana, is becoming just as important.
“We seek investments that build processing plants and manufacturing lines, transfer technology, procure from Ghanaian businesses, train our people, and create sustainable jobs.” - Dr Forson
He said deeper economic cooperation with China should create more opportunities for Ghanaian firms and workers while strengthening domestic productive capacity.
China Signals Support
China’s Assistant Minister of Commerce, Zhang Li, who is visiting Ghana for the first time, welcomed the direction of the discussions and praised the government for recent improvements in the economy.
He said China is prepared to deepen commercial and economic cooperation with Ghana.
The areas of cooperation are expected to include support for the government’s Big Push Programme and other priority development initiatives.
The Joint Commission provides a platform for both countries to review their economic ties and identify new areas for trade, investment and technical cooperation.
For Ghana, the message from the latest session is fairly direct: trade volumes alone will not be enough. The government wants a relationship that produces more goods locally, develops skills and creates jobs that remain in the economy.
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