Ghana and China’s Hunan Province have committed to strengthening economic cooperation in Agriculture & Agribusiness, Smart Industrialisation, and Sustainable Mineral Processing, following high-level talks at the 4th China-Africa Economic & Trade Expo (CAETE).
H.E. Cao Zhiqiang, Vice Governor of Hunan, hosted Ghana’s Minister for Trade, Agribusiness & Industry, Hon. Elizabeth Ofosu-Adjare on bilateral discussions which centred on building stronger bilateral trade, investment, technical exchanges between Ghana and Hunan Province.
The Hon.Minister in her remarks, commended the Vice Governor and the Hunan Province for their level of industrialisation driven by innovation and underscored the need for partnership.
She intimated that the achievement of the Province was a clear indication that, walking shoulder to shoulder, Ghana could leverage on this strategic relationship to leapfrog in its industrialisation agenda.
In addition, the Minister highlighted the country’s stable business environment, rule of law, competitive returns on investment, and youthful and growing middle class as some of the key considerations not to be ignored by potential investors from the Province.
She also underscored Ghana’s strategic location as a gateway to serve the regional as well as global markets.
The Minister invited more Hunan multinational companies to explore business opportunities in the manufacturing, garments & textiles, pharmaceutical, and components manufacturing sectors and take advantage of the 24-hour economy policy.
The bilateral trade between Ghana and Hunan Province was estimated at USD2.5B as at the end of 2024 with at least 8 top multinational companies from Hunan operating in Ghana and these include Zonda, Sany, Hunan Construction and Zoomlion.
The Minister extended an invitation to the Vice Governor to lead a high-level delegation to explore more business opportunities in Ghana in the course of the year.
In his remarks, H.E. Cao Zhiqiang, Vice Governor of Hunan Province, commended the Minister for making a strong case for investment in Africa and especially Ghana during the CEO Dialogue.
According to the Vice Governor, the Province is committed to partnering with the government of Ghana and the private sector to enhance industrialisation for our mutual benefits.
Touching on the current economic development of the Province, the Vice Governor emphasised that it is one of the fastest-growing provinces in China, with a 2024 GDP of approximately 5.4 trillion yuan (about $760 billion), growing around 5.5% year-on-year, slightly above the national average.
The tertiary sector (services) contributed significantly, while advanced manufacturing and the digital economy expanded rapidly.
The Province, according to the Vice Governor, has positioned itself as the hub of industrialisation, innovation & research, aerodynamics, logistics & infrastructure development, education, among others.
The Vice Governor of Hunan Province agreed to the proposal by the Minister for technical exchanges between Ghana and Hunan to enhance skills and expertise development of critical sectors of the economy.
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