Business News of Tuesday, 11 July 2017
Minister for Business Development, Mohammed Ibrahim Awal has described as unacceptable the low levels of trade among African countries.
Currently trade volumes among African countries are less than 5%, whereas European countries have trade volumes spanning over 70%.
Speaking at the ceremony of the Sudan Ghana Business, Culture and Higher Education Expo 2017, Mr. Ibrahim Awal said government will continue to ensure that businesses in Ghana have a conducive environment to grow beyond the country’s borders.
“In Ghana, our president Nana Akufo Addo has declared that he wants to build the most business friendly environment, meaning that government will create the space for private sector to explore, it means that the cedi will be stable, it means that the cost of doing business will be low, it means you can register your company and get within a week or two you registration certificate, we want to build a business environment that enhances inter and intra African relationships,” he said.
Meanwhile, Minister for Investment of the Republic of Sudan, Osama Faisal Elsayed Ali has stated that Sudan is eager to establish trade relations with Ghana taking into consideration the similarities of the countries.
“The similarity between the economic philosophies of both governments which is based on a free market economy considering the private sector as the beacon of economic development through creating jobs, presenting reliable services as exhilarating economic transformation, the government is to create an enabling environment and to ensure faire free competition.
He further stated that Sudan is once again open to international trade following the absence of conflicts in the country.
“As a matter of fat Sudan is now free of conflicts in an international and unilateral sanctions that had interred its past Sudan is now fully engaged into international trade and business”.
The Sudan Ghana Expo which started on the 10th of July, 2017 will end on the 12th of July, 2017.
The Expo will have government representatives from both countries engage in bilateral talks.
The theme for the Expo is “Investing in the Future”.