Ghana’s Trade With France Declines

Vice president receiving a gift from a member of the Bordeaux delegation

Bilateral trade between Ghana and France declined drastically in 2015, recording $650 million in export earnings and $270 million in import.

The proceeds are just about half of the level of bilateral trade earnings recorded in 2013.

In 2013, bilateral trade between the two countries exceeded $1.5 billion, recording $1.2 billion of exports and $340 million of imports.

Vice President Paa Kwesi Bekoe Amissah-Arthur, who made this known at the opening of Ghana-France Business Forum in Accra yesterday, said the two countries must boost trade.

“But there is good news, even as mechanize trade declined, there has been consistent growth in French equity investment in Ghana, which increased from $148 million in 2008 to over $290 million in 2013,” he stated.

The Vice President said French businesses have maintained strong interest in Ghana’s economy.

“Over the past 15 years, we have witnessed a rapid increase in economic and commercial issues. Clearly our objective is to increase the extent of the trade,” he said.

Mr Amissah-Arthur expressed the hope that the French businesses would continue to maintain their interest in Ghana and increase investment.

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Ghana-France Business forum
The Ghana-France Business Forum was organized by the Ghana Investment Promotion Center (GIPC) in collaboration with the French Embassy.

The forum gave Ghanaian businesses the opportunity to interact with a 30-man business delegation from French city Bordeaux, who are in the country to explore business opportunities.

The visit is a follow-up from a series of successful meetings held between a group of Ghanaian corporate, municipal and academic delegates and their Paris counterparts during President Mahama’s trip to France in October, 2015.

The delegation, which comprises representatives from the private, municipal and academic sectors, will seek to leverage their presence in the country to identify potential areas of investment across several economic sectors, including agri-business, hospitality and tourism, education, healthcare, pharmaceuticals, manufacturing, Transport, as well as energy, ICT, waste management and infrastructure.

The delegation to Ghana was led by President of the Bordeaux Chamber of Commerce and Industry, Bernard Laurent, Mayor of Saint Emilion.

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By Cephas Larbi