The Volta Regional Branch of the Association of Ghana Industries (AGI) has hosted a bilateral investment forum with the Angolan Ambassador to Ghana, on prospective trade opportunities in the region’s private sector and Angola.
The meeting, held in collaboration with the Volta Regional Coordinating Council (VRCC), formed part of a ‘fact finding’ mission to explore and familiarise with the investment potentials of the region with the quest to promote inter-regional trade.
The Volta, Eastern and Oti Regional Chairman of AGI, Dela Gadzanku, speaking to the B&FT after the forum, said the Volta Region seeks to attract key investments in the areas of tourism, agribusiness and ICT from Angola.
“As part of discussions on the visit, the AGI and the Regional Coordinating Council has reached a joint resolution with the Angolan embassy to enable private sector players in the region to embark on trade mission to Angola to explore possible areas of cooperation with the private sector of the two countries,” Mr. Gadzanku said.
The trade mission, according to Mr. Gadzanku, is expected to take place in early 2022 and will also include missions to Kenya and South Africa.
The Ambassador, João Domingos Baptista Quiosa, at the forum, underscored the need for Angola and Ghana to take advantage of the African Continental Free Trade Area (AfCFTA) which is headquartered in Accra, to boost bilateral trade between the two countries.
Trade balance between Ghana and Angola was US$165,000 in 2019, according to the United Nations COMTRADE database on international trade. But this, the Ambassador noted, is not good enough considering trade figures between Ghana and the US, Europe or countries in Asia.
“Same applies to Angola where we tend to trade more with countries in Europe. But we’ll be glad to have more chocolates, Kente and several others from Ghana to Angola. I am here to go back to inform Angola the business opportunities in the Volta Region and Ghana in general to inform businesses in my country to explore avenues here,” João Domingos Baptista Quiosa indicated.
He emphasized on the need for the continent to unite for trade in order to open opportunities for young people through jobs, adding, “The tourism potentials of the Volta Region is massive for investors from Angola.”
“That’s why I am impressed with Ghana’s One District, One Factory (1D1F) initiative, which has the potential to industrialize the economy. But first of all, we have to trade among ourselves, not with China or Europe,” he maintained.
João Domingos Baptista Quiosa, indicated that Angola has been Ghana’s key trading partner in transportation and agricultural machinery, fisheries and education.