Trade between Ghana and Colombia is expected to increase as the two countries continue exploring new avenues of business as well as deepening existing partnerships.
This is on the back Vice President of Colombia Francia Elena Marquez Mina’s visit to Ghana.
Vice President Dr. Mahamudu Bawumia, speaking at the ‘Ghana-Colombia Business Forum’ as part of the visit, observed that it is essential for nations to identify strategic partners and create synergies that can drive sustainable growth.
Against this background, he said, Ghana and Colombia possess complementary strengths which when combined can lead to remarkable achievements.
Among the key sectors needed to realise the collaboration, he noted, are agriculture and energy among others
“Agriculture stands as a sector ripe for collaboration, with our nations’ sharing expertise in coffee production, cocoa cultivation and other agricultural products.
“Energy is another arena where we can make significant strides, focusing on sustainable practices and renewable sources that align with our environmental commitments and sustainability,” he stated.
Furthermore, he opined that the digital economy presents a realm of untapped potential. “By leveraging technology and fostering innovation, we can enhance efficiency, create new markets and drive economic growth”.
He is optimistic that the two governments can work hand-in-hand to create an enabling environment for start-ups and entrepreneurs by facilitating the exchange of knowledge and best practices.
However, he noted that for trade and commerce to flourish in relations between Ghana and Colombia, there is a need to identify trade barriers, streamline regulations and enhance transportation links.
“We can facilitate the movement of goods and services between our nations. Joint trade and investment missions and business delegations can further forge new partnerships and deepen existing ones,” he added.
Also, he said, it is crucial to establish a framework for collaboration that encompasses government support, private sector engagement and the development of strong bilateral partnerships and linkages.
To this end, recognised that the Ghana-Colombia Business Forum provides a platform for businesses to explore partnerships, exchange ideas and forge connections that will lead to tangible outcomes.
“This event marks a significant step forward in fostering strong ties and creating mutually beneficial partnerships and opportunities between our two great nations,” he stated.
Both nations, he observed, have unique strengths and resources that when combined can lead to remarkable achievements in trade, investment, manufacturing, technology transfer and knowledge-sharing.
“Ghana, with its stable political climate, robust economic growth and strategic location in Africa, offers an ideal environment for businesses that are seeking to expand their footprint on the African continent.
“The country’s renowned and abundant natural resources, including gold, cocoa, shea nuts and oil, coupled with its commitment to economic diversification and innovation make it one of the most attractive destinations for foreign investments in Africa.”
Furthermore, Ghana’s commitment to open markets, regulatory reforms and infrastructure development, he said, has created a welcoming atmosphere for businesses to reap returns on their investments.
As host of the African Continental Free Trade Area (AfCFTA) secretariat, he noted, Ghana enjoys several remarkable advantages – including elevation of the country’s global profile as a strategic player in the realm of international trade and economic development.
AfCFTA presents Ghana with unparalleled opportunities for trade expansion. As a commercial gateway to Africa, the country is strategically positioned to enhance regional connectivity and trade flows.
The removal of tariff and non-tariff barriers within the AfCFTA framework opens up new markets for Ghanaian goods and services, propelling our industries and entrepreneurs to new heights of competitiveness and growth.
