ACCRA, GHANA — Ghana says it wants to increase exports of processed cocoa and other value-added products to China while attracting more Chinese investment into local manufacturing.
Finance Minister Dr Cassiel Ato Forson says although China is Ghana’s largest trading partner, the structure of trade needs to improve to create greater benefits for the Ghanaian economy.
Dr Forson made the remarks at the opening of the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation in Accra.
He said Ghana wants to move beyond exporting mainly raw materials by increasing local processing and manufacturing.
Dr Forson explained that expanding value addition would allow the country to retain more income from its resources while creating employment and supporting local businesses.
He identified processed cocoa as one of the products Ghana wants to export in greater quantities to the Chinese market.
The Minister also called for Chinese investment that establishes factories, transfers technology and provides skills development for Ghanaian workers.
China’s Assistant Minister for Commerce Zhang Li welcomed Ghana’s recent economic progress and pledged deeper cooperation between the two countries.
Ms Zhang indicated that China is prepared to support Ghana’s development priorities, including the government’s Big Push Programme.
The Joint Commission provides a platform for the two countries to review economic cooperation and identify new opportunities in trade, investment and technical collaboration.
Ghana is seeking to use stronger industrial partnerships to expand domestic production and reduce its dependence on exports of unprocessed commodities.
The talks come as China continues to expand market access for African products through its zero-tariff policy, creating additional opportunities for value-added exports.