Strengthening Economic Ties Between Ghana and Morocco
The Minister for Trade, Agribusiness, and Industry of Ghana, Mrs. Elizabeth Ofosu-Adjare, has urged Morocco to eliminate non-tariff barriers to facilitate smoother trade, while highlighting Ghana's innovative 24-Hour Economy policy as a pivotal element in the nation's strategy for industrial growth and attracting foreign investment. This appeal was made during her recent three-day working visit to Morocco, which aimed at fostering deeper trade relations and exploring new avenues for investment between the two nations.
During her discussions with Mr. Karim Zidane, Morocco's Minister of Investments, Convergence, and Public Policy Evaluation, Mrs. Ofosu-Adjare emphasized that persisting trade barriers have significantly limited the potential trade volume and diversity between Ghana and Morocco. She articulated that the removal of these trade obstacles is critical for unlocking the full potential of their bilateral relationship. Furthermore, she commended Morocco's proactive involvement in the African Continental Free Trade Area (AfCFTA), characterizing it as a commendable step towards enhancing intra-African trade.
At the core of her presentation to Moroccan officials was Ghana's 24-Hour Economy policy, which she described as a transformative approach to structuring the economy for increased industrial production, job creation, and export expansion. In addition, Ghana's Minister of Finance, Ken Ofori-Atta, brought to light the country's revised investment law through the Ghana Investment Promotion Centre (GIPC), which enhances incentives for foreign investors and cultivates a more conducive environment for investment.
Proposals for Future Collaboration
In response to Ghana's proposals, Mr. Zidane called for an increase in Ghana's exports to Morocco as a strategic method to rectify the current trade imbalance. He suggested the immediate organization of a Business and Investment Forum in Ghana to strengthen business connections between the two countries. In a separate meeting with Mr. Omar Hejira, Morocco's Minister of Foreign Trade, the significance of Ghana as a strategic trading partner was reiterated, with Mr. Hejira underscoring the visit as a prime opportunity to enhance trade relations further.
During these discussions, the Moroccan side shared insights regarding its economic growth, noting impressive advancements in sectors such as renewable energy, port infrastructure, finance, pharmaceuticals, human capital development, and the automotive and aviation industries. Both parties recognized the urgent necessity for establishing a Business and Investment Forum in Ghana, which would create a structured environment for direct business-to-business interactions between Ghanaian and Moroccan enterprises. The formal ceremony hosted by the Moroccan Minister of Foreign Trade served as a testament to the strengthening diplomatic and economic ties between the two nations.
As reported by modernghana.com.
