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China is Persuaded by Ghana for Investment in the Sector of Manufacturing

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Published on : Jul 09, 2015

The Minister of Trade and Industry, named Dr Ekwow Spio-Garbrah has approached China to put investment into significant territories, particularly the light manufacturing and agro-processing areas, to support the development of the Ghanaian economy. This was decided by Dr. Spio-Garbrah after the Chinese Ambassador, Sung Baohongh, paid an affability call to him in Accra. 

The meeting examined the new collaboration rules, which were issued by the Ministry of Commerce of China and the National Development and Reform Committee.

The rules demand participation in production and capacity as well as gear manufacturing that will include moving the production lines of China to different nations and Chinese organizations setting up manufacturing plants with nearby accomplices abroad. The rules additionally recognize a rundown of 12 areas including iron and steel, non-ferrous metal, railroads, building materials, power, material, synthetic, vehicles, development apparatus, correspondence, flying, ocean engineering, and ship as the key parts to advance the co-operation. Ms Baohongh took the chance to welcome the Minister to lead an appointment from Ghana to go to the World Investment Forum which would be held in Fujian Province September, at China. 

The Minister recommended to compose a venture gathering on Ghana on the edges of the World Investment Forum to empower a percentage of more than 5,000 members at the discussion to center their consideration on the nation. Ministry of Trade insights demonstrates that China is Ghana's second biggest partner in trading, following Europe. Ghana is the seventh biggest partner in trading for China in the African nations. 

China is by a wide margin Ghana's biggest supplier of imports, supplying 18.3 percent of Ghana's imports which valued around $2,096 billion in 2013. Ghana’s ninth biggest fare destination is China, representing 2.2 percent of fares worth $420 million in 2013. Ghana's fares to China are commanded by customary or essential fares, for example, natural cocoa, crude metals, wood items, and petroleum oils, which represent 96 percent of fares to the Asian country.