Ghana has achieved significant progress in strengthening its economic partnership with China, securing a 0% tariff on all its exports to the Asian economic powerhouse.
This breakthrough was announced by Minister of Foreign Affairs Samuel Okudzeto Ablakwa on X (formerly Twitter) today.
The new tariff regime, which extends to 100% of goods originating from Ghana, is poised to dramatically boost trade volumes, stimulate job creation, and foster a new generation of Ghanaian entrepreneurs.
This development is particularly impactful given that China already stands as Ghana’s number one trading partner, with bilateral trade volumes exceeding US$11 billion last year alone.
This new tariff elimination opens up vast opportunities for Ghanaian producers to access the world’s second-largest consumer market.
Beyond trade facilitation, the MP for North Tongu revealed that bilateral discussions focused intensely on new industrial projects aligned with President Mahama’s ambitious vision for national transformation.
A key agenda item was the exploitation of Ghana’s vast bauxite reserves, estimated at over 900 million tonnes, for the development of an integrated aluminium industry.
This strategic initiative is envisioned to be supported by modern rail infrastructure, ensuring efficient transportation of raw materials and finished products, moving Ghana beyond raw material export to value-added industrialisation.
Credit:JOYONLINE