Francisco Gonzalez Diaz, the Executive Director of ProMexico
H.E. Ekwow Spio-Garbrah, Minister of Trade & Industry
In May, a 10-member Ghana business and government delegation led by MawuenaTrebarh, the Chief Executive of the Ghana Investment Promotion Centre (GIPC), visited Mexico.
The visit was at the instance of the Mexican ambassador to Ghana, H.E. María de los Angeles Arriola Aguirre, and the Mexican investment promotion agency, ProMexico. It was meant to strengthen trade relations between Ghana and Mexico.
exico had an embassy in Ghana in the 1960s but it was closed down in 1980. The embassy was re-opened in Accra in 2014 with Mexico’s aim of strengthening bilateral trade with Ghana. As a sign of the seriousness of the embassy of Mexico to Ghana, the first Mexican business mission met the media on June 9 at the La beach Hotel in Accra.
It was a 15-member delegation made of business people, representing manufacturing, agro-processing, pharmaceutical, construct iEXICOon and others. H.E. de los Angeles Arriola Aguirre; Prof. Francisco Gonzalez Diaz, the Executive Director of ProMexico; Trebarh; James Zugah-Tiiga, the Chief Executive of the Ghana Export Promotion Authority (GEPA); Kwame Nsiah Asante, Senior Manager at the Ghana Free Zones Board (GFZB); officials of the GIPC, and other officials of government agencies.
H.E. Arriola Aguirre explained that Ghana was the first African country Mexico established diplomatic relations with, and the also the first on the continent Mexico opened an embassy in. She stated that both countries shared similar economic policies such as open markets, free trade and regional integration.
She explained the rational for this first Mexico trade mission by saying “All these similarities, together with common geo-strategic positions, solid democratic institutions, call for both countries to turn into strategic economic partners as ideal platforms to increase and widen their respective economic presence in both sides of the Atlantic: Mexico in Africa, through Ghana, and Ghana in the Americas, though Mexico.”
On concerns of security raised by a member of the Mexican delegation, H.E. Arriola Aguirre said Ghana was very safe for investors and assured her compatriots that no country is perfect but Ghana’s security was very good. She also praised Ghana’s respect for women’s rights and gender issues and this was evident in the many women in top ministerial and governmental positions in Ghana such as Ministers of Foreign Affairs, Justice and Attorney-General, Education, Gender, Tourism, Fisheries and others.
One-time richest man in the world.
Richest man in the world
Dr EkwowSpioGarbrah, the Trade and Industry Minister, said the fact that Carlos Slim, the one-time richest man in the world was from Mexico testified to the Latin American country’s business prowess. On the reasons why Ghana was attractive for investment, Dr Spio-Garbrah said the country has one of the highest access to electricity per population in Africa at 80 per cent. He also said despite its immediate energy challenges, the installed capacity of 3,000 MW compares favourably with Nigeria’s 5,000 MW, considering the population of the latter. He said Ghana had peace and stability, skilled workforce, mining, tourism and agro-processing potentials that the investors can take advantage of.
On tourism sector, the Trade Minister disclosed that Ghana had about 30 European built forts and castles which could be converted into food fairs, festivals and bazaars. He encouraged the Mexican investors to use Mexico’s achievements in tourism to partner Ghana to improve its tourism. The Minister finally said that they could also set up in Ghana’s free zone to enjoy all its benefits, and setting up in Ghana opens the door to a West African market of more than 350 million people.
Trebarh hinted that in her work at the GIPC, they do not often see quick reciprocal visits after trade missions and so highly commended the Mexican embassy for its efforts. She talked about the warmness of the Mexican people and that Ghana and Mexico had a lot in common.
She mentioned that the GIPC was able to sign a Memorandum of Understanding (MOU) with ProMexico on bilateral co-operation to strengthen economic relations between the two countries. She did an investment presentation on Ghana and highlighted the priority areas that the government was looking for investment in. She talked about the free zone in Ghana, the 10 year tax free enjoyed by free-zoned firms. On hospitality and tourism, she disclosed that there was no hospitality training institution in Ghana and was an area worth looking into.
Their joint partnerships
Prof. Gonzalez Diaz said the mission came to look for opportunities to solidify their joint partnerships. Highlighting the competitive advantage of Mexico as an investment partner, he said Mexico was poised to become the eighth best economy in the world by 2050. The country already had Free Trade Agreements with 46 countries worldwide. He explained that the Mexican government takes its trade with African countries seriously; and thus established an office of African Affairs. He said in 2005, Mexico’s imports in Ghana were US$7.2 million but in 2015, the figure tripled to US$22.1 million and the ProMexico was looking to increase the figure significantly. Prof. Diaz explained that 63 per cent of those imports were manufactured tubes as Mexico was the world’s leader in the export of manufactured products.
ProMexico signed a MOU with GEPA, with the aim of strengthening export trade between the two countries. As part of the activities scheduled for the mission, the Mexican businessmen and a number of Ghanaian companies participated at a business a seminar and roundtables organised by sectors: agro and food processing, construction and pharmaceutical industries. One of the topics discussed is the implementing of seis income tax relief to help new business grow.
The attendees had the chance to exchange opinions and largely discuss the legal frames, facilities and stimuli, market opportunities and comparative advantages. The activity programme also contemplated a round of B2B meetings and a networking soirée for the Mexican delegates and Ghanaian businessmen. Finally, in the second day of activities, the members of the Mexican mission visited the Tema Free Zone Enclave as well as other industrial facilities near Accra where they witnessed the strength and growth potential of Ghana’s industry.
BY Anthony Sedzro , GB&F
