Ghana, Venezuela Pursue Economic Partnership for Mutual Growth

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Ghana and Venezuela are exploring expanded bilateral cooperation in cocoa production, aviation, education, oil and gas, tourism and military relations, as the two countries seek to strengthen diplomatic and economic ties through a series of proposed Memoranda of Understanding (MoUs).

The development emerged during a courtesy call by Venezuela’s Ambassador to Ghana, His Excellency Jesus Garcia, on the Deputy Minister for Foreign Affairs, Hon. James Gyakye Quayson, during which the Venezuelan envoy presented draft MoU documents outlining potential areas of collaboration.

The Ambassador said the proposed partnerships would create opportunities for both countries to leverage their respective economic strengths and technical capabilities for shared development.

“The cooperation in aviation, education, oil and gas and cocoa would give impetus to elevating relations between the two countries to a higher pedestal.”

A major component of the proposed cooperation is the oil and gas sector, where Venezuela’s extensive petroleum resources could provide opportunities for technical exchange, investment engagement and the sharing of industry expertise with Ghana.According to the Organization of the Petroleum Exporting Countries (OPEC), Venezuela held approximately 303.2 billion barrels of proven crude oil reserves in 2024, making it the country with the largest reported proven oil reserves globally.Ghana, which became an oil-producing country in commercial quantities in 2010, has continued to develop its petroleum industry through offshore exploration and production activities. Collaboration with Venezuela could therefore provide an avenue for exchanging technical knowledge and experience in the management of petroleum resources.The proposed collaboration is significant against the background of Ghana’s cocoa production challenges. Data from the United States Department of Agriculture (USDA) indicated that Ghana’s cocoa production declined to an estimated 530,873 metric tonnes in the 2023/2024 crop season, following several consecutive seasons of reduced output.The report also identified cocoa swollen shoot virus disease as a major challenge, with industry estimates indicating that more than 90,000 hectares of cocoa farms were affected and targeted for rehabilitation.Ghana’s Cocoa Health and Extension Division has responsibility for controlling the disease, rehabilitating unproductive farms and supporting farmers with improved planting materials and agricultural practices. 

The Ambassador emphasised that transferring relevant agricultural expertise could help reduce production losses, improve farm productivity and strengthen the value of Ghana’s cocoa industry.

“Venezuela’s technology, when brought to bear in Ghana, would help reduce losses incurred through cocoa diseases and contribute to increasing production value.”

In aviation, cooperation could create opportunities for technical exchanges, professional training and stronger institutional engagement between relevant authorities. Improved connectivity and aviation partnerships could also support tourism, business travel and broader commercial interactions.

Education presents another avenue for collaboration, particularly through academic exchanges, scholarships, technical training and partnerships between educational institutions.

Also, tourism cooperation could equally support cultural exchanges, destination promotion and the development of tourism-related business opportunities.

The Ambassador further indicated that military cooperation could form part of the broader engagement, potentially creating opportunities for institutional exchanges and professional capacity development.

He described the proposed partnerships as mutually beneficial, noting that the existing diplomatic relationship between the two countries provided a foundation for expanding cooperation across multiple sectors.

Garcia also expressed Venezuela’s intention to establish an embassy in Ghana, describing the country as strategically important because of its diplomatic standing, international relationships and potential role in strengthening engagement with other countries.

He said a resident diplomatic mission would provide an important platform for improving communication, facilitating bilateral engagements and advancing the proposed areas of cooperation.

Ambassador Garcia described the engagement as strategic within the context of South-South cooperation, which encourages developing countries to exchange knowledge, expertise, technology and resources to address common development challenges.

He also congratulated Ghana on the adoption by the United Nations General Assembly on March 25, 2026, of a landmark resolution declaring the transatlantic trafficking of enslaved Africans and racialised enslavement the gravest crime against humanity.

He described the resolution as significant in recognising historical injustices and advancing international discussions on the legacy of slavery.

In his response, Deputy Minister for Foreign Affairs, Hon. James Gyakye Quayson, expressed appreciation to the Venezuelan Ambassador for the visit and reaffirmed Ghana’s commitment to strengthening relations with countries in the Caribbean and Pacific regions.

He also conveyed sympathy over the prevailing situation in Venezuela, expressing hope for a peaceful resolution.

Hon. Quayson said Ghana was committed to expanding cooperation with countries across the Caribbean and Pacific within the framework of South-South cooperation, emphasising the importance of collective action in achieving sustainable economic development.

He identified the African Continental Free Trade Area (AfCFTA) as an important platform for strengthening economic integration, expanding market access and increasing trade among African countries.The agreement, which commenced trading under its framework in January 2021, brings together 54 African Union member states that have signed the pact, creating a framework for a single continental market covering goods and services.He encouraged Ghana and Venezuela to build stronger partnerships and provide resilient support for one another in pursuing their respective development objectives.

“The time has come for Africa, the Caribbean and the Pacific to work together for holistic development.”

The proposed Ghana-Venezuela MoUs therefore present an opportunity to translate longstanding diplomatic relations into practical economic partnerships.

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