{"id":217459,"date":"2024-09-14T00:52:19","date_gmt":"2024-09-14T00:52:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/09\/14\/ghana-and-austria-renew-commitment-to-boost-trade-investment-relations\/"},"modified":"2024-09-14T00:52:19","modified_gmt":"2024-09-14T00:52:19","slug":"ghana-and-austria-renew-commitment-to-boost-trade-investment-relations","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/09\/14\/ghana-and-austria-renew-commitment-to-boost-trade-investment-relations\/","title":{"rendered":"Ghana and Austria renew commitment to boost trade, investment relations"},"content":{"rendered":"
<\/p>\n
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Ghana and Austria have renewed their commitment to deepen economic collaboration and bolster trade and investment ties at all levels.<\/p>\n
The two countries, led by Ghana\u2019s Foreign Minister, Madam Shirley Ayorkor Botchwey, and Mr Jackson Alexander Schallenberg, Austria\u2019s Federal Minister for European and International Affairs, pledged to explore the many untapped business and economic opportunities in the two countries.<\/p>\n
The Austrian Federal Minister for European and International Affairs is in Ghana to officially open the Embassy of the Republic of Austria in Accra and to deepen the long-standing relationship between Ghana and Austria.<\/p>\n
Among others, the Austrian delegation, which includes business leaders, would participate in a Business Breakfast meeting at the Movenpick Hotel, with discussions centred on enhancing commercial ties.<\/p>\n<\/figure>\n
Speaking at a joint press briefing at the Ministry of Foreign Affairs and Regional Integration ahead of the opening, Madam Ayorkor Botchwey, urged Austrian businesses to seize opportunities in Ghana, highlighting the country\u2019s access to the African Continental Free Trade Area (AfCFTA) and its vast market of 1.3 billion people.<\/p>\n
The Foreign Affairs Minister said despite decades of diplomatic cooperation, trade and investment between the two nations remained low and economic growth had not kept pace with the long-standing ties.<\/p>\n
She, therefore, called for greater effort to foster partnerships that would drive development, encouraging Austrian companies to explore new ventures in Ghana as the country was positioned as a gateway to Africa\u2019s growing markets under the AfCFTA framework.<\/p>\n<\/figure>\n
Madam Ayorkor Botchwey assured the delegation that \u201cdoing business in Ghana means having access to the world\u2019s largest free trade area with 54 countries, 1.3 billion people and a combined GDP of 3.4 trillion United States Dollars.\u201d<\/p>\n
The visit, she said, highlighted the unwavering commitment to bilateral cooperation and the shared determination by both countries to address global concerns.<\/p>\n
Two Memoranda of Understanding (MoUs) between the Government of the Republic of Austria and the Government of the Republic of Ghana on Cooperation in the Field of Development, Mobility and Migration; and Reciprocal Access to the Labour Market for Dependents of Members of Diplomatic Missions and Career Consular Posts, were signed.<\/p>\n
Further agreements were set to be signed during the Business Forum, including a health cooperation MoU between Ghana\u2019s Ministry of Health, the University of Ghana, Austria\u2019s University of Innsbruck, and MED-EL GmbH.<\/p>\n<\/figure>\n
Another agreement between the University of Ghana and Austria\u2019s University of Natural Resources and Life Sciences (BOKU) aimed to boost academic and research collaboration, will also be signed as part of the visit.<\/p>\n
Mr Schallenberg, who described the partnership between Ghana and Austria as mutually beneficial, said the future prosperity of the two countries would depend on a stronger partnership.<\/p>\n
He said the partnership between the two countries was a sign of commitment and mutual trust and belief in the potential of the opportunities the partnership and friendship could hold, stressing that \u201cwe are bringing our bilateral relations to a new level.\u201d<\/p>\n
The Austrian Federal Minister for European and International Affairs said the future of security and prosperity of Europe lay in the partnership with Africa, and that \u201cGhana is a strong and logical partner.\u201d<\/p>\n<\/figure>\n
He said Ghana was a beacon of democracy and stability, which required that the two countries fostered a people-to-people partnership with even strengthened diplomatic ties.<\/p>\n
Mr Schallenberg said Ghana and Austria had common approaches based on the rule of law, international law, democracy and common values.<\/p>\n
He expressed Austria\u2019s desire to further deepen economic ties, increase trade, investment, and people-to-people contact, stressing that Austrian businesses operated without hidden political agendas.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Ghana and Austria have renewed their commitment to deepen economic collaboration and bolster trade and investment ties at all levels. The two countries, led by Ghana\u2019s Foreign Minister, Madam Shirley Ayorkor Botchwey, and Mr Jackson Alexander Schallenberg, Austria\u2019s Federal Minister for European and International Affairs, pledged to explore the many untapped business and economic opportunities […]<\/p>\n","protected":false},"author":1,"featured_media":217460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-217459","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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