Ghana, Canada Bilateral Trade Hits 220%
Bilateral trade between Ghana and Canada reached $236.6 million, representing approximately 220 percent from 2000 to 2012.
Imports of goods from Canada to Ghana reached $216.2 million in 2012 whereas Ghana's exports were $20.3 million.
According to an official factsheet published by the Canadian government, top merchandise imported from Canada to Ghana included cereals, vehicles and parts, machinery and miscellaneous textiles while exports comprise mainly cocoa, wood, rubber articles, and edible vegetables.
The statement said, 'The bilateral programme, as well as, contributions to multilateral organizations and to more than 30 Canadian civil society organizations working in Ghana, brings the total of Canadian disbursements to more than $131 million during fiscal year 2011-2012.'
The statement said Ghana and Canada have a well-established and growing trade relationship, adding that freedom, stability and rule of law have made Ghana an attractive home for Canadian companies serving all of West Africa.
The statement said, 'Due to a statistical rebasing of the GDP and in light of the new oil and gas industry, Ghana is officially now a lower-middle-income country according to the World Bank, with a per capita income in excess of $1,000.'
It added that business development opportunities for Canadians were emerging in mining, education, infrastructure and oil and gas.
It noted that Ghana was the first country in Africa to receive development assistance from Canada in 1957 and is currently Canada's fifth-largest development partner in the world, stating that Ghana is one of the few countries in Sub Saharan Africa which Canada has a trade surplus with.
Ghana is a country of focus for the Canadian International Development Agency (CIDA). Canada's bilateral development assistance focuses on two sectors: Food Security and Children and Youth (with an emphasis on water, sanitation and hygiene)'.
Canada considers Ghana as a model of democracy and stability in West Africa, it noted.
By Cephas Larbi