Accra, Ghana, January 28, 2020//-Bilateral trade between India and Ghana is expected to hit $5 billion by the close of 2020, according to senior government officials.
The bilateral trade in goods and services between the two countries rose from $2.62 billion in 2017 to $3.34 billion in 2018 and it is expected to reach the $5 billion mark in December 2020.
According to trade figures, between April and October last year, trade between the two countries amounted to $2.6 billion, with India exporting goods worth $4.75 billion to Ghana and importing goods amounting to $2.15 billion.
Speaking at a reception yesterday to mark India’s 71st Republic Day in Accra, the Majority Leader of Ghana’s Parliament, Osei Kyei-Mensah Bonsu, noted that India is the largest destination for export from Ghana with trade balance heavily in favour of the West African country.
The new Indian High Commissioner to Ghana, H.E Sugandh Rajaram added that India had been among the top five trading partners of Ghana and Ghana continues to be a favoured destination for Indian investors
India had been Ghana’s reliable and steady partner in Ghana’s development drive and has over time deepened socio-economic relations between them guided by the principle of South-South Cooperation, Mr Rajaram who presented his credentials to Ghana’s President Nana Addo Dankwa Akufo-Addo yesterday, said.
Commendations
The Majority Leader Mr Kyei-Mensah Bonsu who was the guest speaker of the event congratulated the Indian government on their 71st Republic Day and stressed need for both countries to keep their bold of friendship tight.
India-Ghana bilateral relations
India’s relations with Ghana have been long and historic, and enjoy exemplary bilateral relationship.
The strong foundation of India-Ghana friendship was laid by India’s first Prime Minister, Pandit Jawaharlal Nehru, and Ghana’s first President Osagyefo Dr. Kwame Nkrumah.
This friendship and bilateral cooperation between the two countries have grown steadily and have stood the test of time, he stressed.
The Ghana-India Kofi Annan Centre of Excellence in ICT and the Golden Jubilee House are shining examples of India-Ghana bilateral cooperation.
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