Ghana-Germany Trade Goes Up
By Daily Guide - Daily Guide Business/Finance | Thu, 26 Jun 2008
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The over all volume of trade between Ghana and Germany last year was 328.3 million Euros, representing 15.7 percent over that of the 2006 figure.
This was disclosed by the German Ambassador in Ghana, Dr. Marius Haas, during the official opening of DEG Regional Office for West Africa in Accra last Thursday.
He said Ghanaian imports from Germany increased by 25 percent whereas German imports from Ghana increased just by 3.7 percent.
The 45-year-old Deutsche Investitions Und Entwicklungsgesellschaft mbH (DEG) is a member of KfW Bankengruppe (KfW banking group) in Germany and one of the largest European development finance institutions for the private sector.
The Ambassador noted with satisfaction the development of the business relations between Ghana and Germany, stressing that they have intensified considerably in 2007 and showed good prospects for 2008, but they still have a much higher potential.
Dr. Haas revealed that the German Federal Ministry of Economy and Technology is to establish a German Trade Delegate's office in Accra this year with Patrick Martens, the present executive officer of the Ghanaian-German Economic Association (GGEA) as its Chief Executive Officer.
After the establishment of this office, Ambassador Haas said the next step would be the setting up of a full-fledged German-Ghanaian Chamber of Commerce in a few years and expressed joy that the Ghana Investment Promotion Centre (GNPC) is considering opening an office in Dusseldorf in Germany.
The Ambassador noted that beyond the national level, DEG's presence in Accra is designed to acknowledge the progress of the whole West Africa in the last few years and also the considerable economic potential of some countries in the region.
“In this respect, I should reiterate that DEG selected Ghana as its favourite place because it has always been a champion of African unity and regional co-operation,” he said.
Ambassador Haas therefore called for the mutual reinforcement of the political and economic relations between Ghana and Germany and between Germany and the entire West Africa region which has seen lot of conflicts and wars in the past 20 years.
“Let us hope that in the framework of ECOWAS and NEPAD-APRM, the still existing conflicts and problems can be definitely overcome and resolved so that the affected countries can devote all their energies to the good of economic growth in an established environment of good governance both in the public and private sector,” the Ambassador observed.
Inaugurating the DEG office, Dr. Winfred Polte, Chairman of DEG's Board of Management underlined the growing importance of West Africa in DEG's strategy in the sub-Saharan Africa and that DEG had financed more than 200 million Euros in approximately 40 investment projects in West Africa in the last 20 years.
Dr. Polte said the present portfolio in West Africa stands at approximately 170 million Euros and that the 187 million Euros new commitments to Africa last year were the best results in DEG's history on the African continent.
By James S. A. Kwashie Source: Daily Guide - Daily Guide
This was disclosed by the German Ambassador in Ghana, Dr. Marius Haas, during the official opening of DEG Regional Office for West Africa in Accra last Thursday.
He said Ghanaian imports from Germany increased by 25 percent whereas German imports from Ghana increased just by 3.7 percent.
The 45-year-old Deutsche Investitions Und Entwicklungsgesellschaft mbH (DEG) is a member of KfW Bankengruppe (KfW banking group) in Germany and one of the largest European development finance institutions for the private sector.
The Ambassador noted with satisfaction the development of the business relations between Ghana and Germany, stressing that they have intensified considerably in 2007 and showed good prospects for 2008, but they still have a much higher potential.
Dr. Haas revealed that the German Federal Ministry of Economy and Technology is to establish a German Trade Delegate's office in Accra this year with Patrick Martens, the present executive officer of the Ghanaian-German Economic Association (GGEA) as its Chief Executive Officer.
After the establishment of this office, Ambassador Haas said the next step would be the setting up of a full-fledged German-Ghanaian Chamber of Commerce in a few years and expressed joy that the Ghana Investment Promotion Centre (GNPC) is considering opening an office in Dusseldorf in Germany.
The Ambassador noted that beyond the national level, DEG's presence in Accra is designed to acknowledge the progress of the whole West Africa in the last few years and also the considerable economic potential of some countries in the region.
“In this respect, I should reiterate that DEG selected Ghana as its favourite place because it has always been a champion of African unity and regional co-operation,” he said.
Ambassador Haas therefore called for the mutual reinforcement of the political and economic relations between Ghana and Germany and between Germany and the entire West Africa region which has seen lot of conflicts and wars in the past 20 years.
“Let us hope that in the framework of ECOWAS and NEPAD-APRM, the still existing conflicts and problems can be definitely overcome and resolved so that the affected countries can devote all their energies to the good of economic growth in an established environment of good governance both in the public and private sector,” the Ambassador observed.
Inaugurating the DEG office, Dr. Winfred Polte, Chairman of DEG's Board of Management underlined the growing importance of West Africa in DEG's strategy in the sub-Saharan Africa and that DEG had financed more than 200 million Euros in approximately 40 investment projects in West Africa in the last 20 years.
Dr. Polte said the present portfolio in West Africa stands at approximately 170 million Euros and that the 187 million Euros new commitments to Africa last year were the best results in DEG's history on the African continent.
By James S. A. Kwashie Source: Daily Guide - Daily Guide
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