Ghana Forms New Partnership with U.S. to Develop ‘Fruitful Business Relations’ in Agro Business, Infrastructure, Tourism
The Ghana International Chamber of Commerce announced Tuesday that it will launch a new trade mission with the United States. According to the release from the office, the primary goal of the trade mission is “to further development of fruitful business relations with mutual benefits between Ghana and United States businesses” and give American business the opportunity to establish “stable and sound” business co-operations in Ghana.
A trade delegation from the U.S. private sector, comprised of 19 members, will travel to Accra, the capital of Ghana and the Western District, Nzemaland to seek news methods of increasing bilateral trade. The mission will focus on the areas of agro business, infrastructure and tourism. While in Accra, the GHICC hopes to connect U.S. companies with potential Ghanaian business partners, clients and government officials.
Per the GHICC, delegates will also be invited to participate in a business-matching program in Accra and Nzemaland. The program is intended to introduce and connect American companies with potential trading partners in each city.
Ghana’s agricultural market boasts a large share of the African quota of the EU market for the exportation of fruits and vegetables. It’s also the second-largest cocoa producing country in the world. Its leading traditional agricultural exports include processed tuna, cut fresh pineapples, other prepared fish, and tomato paste, the GHICC reports.
Ghana provides a long list of viable investment opportunities in its agro business and food processing sectors, from floriculture to aquaculture products and services. U.S. businesses are also encouraged to invest in the development of irrigable land, innovative storage solutions, and the processing of agricultural products.
The World Bank describes Ghana’s infrastructure as “an advanced infrastructure platform when compared with other low-income countries in Africa.” The country’s availability of water in rural areas and electricity is notable and a large portion of the roads are in good or fair condition. There’s room for improvement in the power sector however, as “periodic hydrological shocks leave the country reliant on high-cost oil-based generation.” According to the GHICC, Ghana already spends close to $1.2 billion per year on infrastructure while $1.1 billion of that is lost, due to the under pricing of power. Ultimately, the country has a number of solid areas on which to establish a reliable economic foundation.
When it comes to tourism, it’s projected that over 1,035,000 international tourists will travel to Ghana in 2021. The GHICC reports that Ghana is the number one tourist destination in Africa and “receives the largest number of tourists who visit Africa for cultural purposes.” U.S. opportunities for investment in the country’s tourism sector include tourist accommodations, tourist information shops, medical services, entertainment, and much more.
The Ghana Trade Mission will take place from June 9-15.
If interested in learning more or participating in the Trade Mission, please e-mail email@example.com.