The Minister for Trade, Agribusiness and Industry, Mrs Elizabeth Ofosu Adjare, has called for a Memorandum of Understanding (MoU) between Ghana and Egypt to strengthen trade relations and create new opportunities for businesses in both countries.
She made the call when the Ambassador of Egypt to Ghana, H.E. Wael Fathy Ahmed, paid a courtesy call on her at the Ministry on Tuesday to discuss ways of expanding bilateral trade and investment cooperation.
She said a formal agreement between the two countries would support closer economic cooperation and provide a framework for increased investment and commercial partnerships.
The Minister urged Ghana and Egypt to make full use of the opportunities available under the African Continental Free Trade Area to increase intra-African trade, investment and industrial development.
She noted that Ghana is positioned for stronger collaboration following the government’s approval of strategic policies under the Ministry, including the Textile and Garment Policy, the Pharmaceutical Policy and the Automotive Policy.
According to her, these policies are expected to support industrial growth and attract more investment into the country.
Mrs Ofosu Adjare added that the Ministry’s Agribusiness Directorate is working to promote value addition while supporting the production and sustainable supply of raw materials needed by local industries.
Ambassador Ahmed said Egypt was ready to deepen cooperation with Ghana by sharing expertise and exploring investment opportunities, particularly in agriculture and other sectors of the economy.
He identified technical training, poultry production, animal feed manufacturing and other joint ventures as areas where both countries could work together to promote economic growth.
The Ambassador said stronger partnerships between Ghana and Egypt would help create jobs, improve skills development and increase trade between the two countries.
The meeting concluded with both sides reaffirming their commitment to expanding economic cooperation, strengthening private-sector partnerships and promoting sustainable industrial development for the benefit of Ghana and Egypt.
Irene Wirekoaa Osei, ISD
