China's non-direct investment hits 44.33 dollars

By Robert Anane, GNA
Accra, July 22, GNA - China's non-financial direct investment inflows into Ghana has hit 44.43 million dollars, ranking fifth in Africa and first in Western and Central Africa.

In 2015, China-Ghana trade registered 6.6 billion dollars, ranking sixth in Africa, whilst China's non-financial direct investment in Ghana reached 174 million dollars, ranking fourth in Africa and raising China's investment in Ghana to 1.3 billion dollars, ranking 14th in Africa.

Madam Sun Baohung, the Chinese Ambassador to Ghana, said this in Accra on Friday at the Ghana China Investment Forum.

The Vice President, Paa Kwesi Amissah Arthur, was the Guest of Honour for the forum which seeks to throw light on investment and business opportunities within Ghana to prospective Chinese businessmen and investors.

Madam Sun observed that since the beginning of this year, 'our economic and trade co-operation has maintained a sound momentum of development.'

Madam Sun said in the first four months, China-Ghana trade reached 1.8 billion dollars, with Ghana's exports scaling up to around 400 million dollars, reflecting an increase of 10.62 per cent.

She said one could tell through the figures the favourable trade relations the two countries enjoyed.

Madam Sun said a view at the global economic situation helped one to appreciate better the progressive trade relations between Ghana and China.

'Currently, the recovery of the world economy is sluggish, commodities and financial markets have experienced volatility from time to time,' she said.

The Chinese Ambassador said: 'Growth prospects of developed and emerging economies are diverging and geopolitical risks and destabilising factors are both on the rise.'

She said against the back drop of the gloomy world economy, the developing countries, whilst suffering economic slow-down, were also grappling with problems such as surging debts and currency devaluation.

Madam Sun said despite some challenges, the Chinese Government had evolved measures resulting in China's steady economic development and ranking top amongst the world's major economies.

She said in the first half of 2016, China's GDP grew by 6.7 per cent adding that the service sector accounted for 54.1 per cent of GDP and consumption contributed to 73.4 per cent of economic growth.

'China is, thus, still a major powerhouse for global development,' she said.

Madam Sun observed that whilst developing countries are presently facing problems of developing their economies, 'we ought to deepen co-operation, look to one another for comfort and collaborate to realise common development and ensure balanced global economic growth.'

She urged Ghana and China to strengthen the exchange of ideas towards mutual growth.

'We need to strengthen policy co-ordination and simplify trade procedures, improve management and service and enhance transparency of policies and further promote trade and investment facilitation,' she said.

Madam Sun said: 'China was willing to focus more on the requirements of Ghana and explore multiple means of co-operation.

She quoted Xi Jinping, President of China, as saying: 'There will always be more opportunities than challenges and more solutions than difficulties.'

The Chinese Ambassador said as China and Ghana progressed in their co-operation, problems were bound to arise from time to time.

'As long as our two countries make concerted efforts we can resolve our problems and succeed with any goal,' she said.

GNA