Ghana and Spain must enhance trade and investment partnerships, says Ama Dokua

The deputy minister of trade and tndustry, Nana Ama Dokua Asiamah-Adjei, has called for deeper economic partnerships between Ghana and Spain.

She stressed on the need to strengthen trade relations and explore new avenues for cooperation in manufacturing, technology, and renewable energy.

Speaking at a Business Forum held in Madrid on Tuesday (17 September, 2024), Asiamah-Adjei said: “In recent years, Ghana has emerged as one of Spain’s leading trading partners in West Africa,” noting that key exports from Ghana include cocoa, fruits, oil, gas, and precious minerals.

In return, Spain supplies automobiles, machinery, electrical equipment, and chemical products to Ghana, which, according to her, “not only strengthen the economic fabric between our nations, but also support Ghana’s digitalisation and innovation efforts towards an export-led industrialization.”

The minister underscored the strategic importance of Spain’s role in Ghana’s industrialisation agenda, particularly through initiatives like the One District, One Factory (1D1F) policy, which aims to boost industrial development across the country’s 16 regions. “Spain, with its rich experience and expertise, is well-positioned to be a vital partner in these sectors,” she said.

Asiamah-Adjei praised the contributions of Spanish firms already active in Ghana, citing companies like GB Foods, Elecnor, and Indra, which have invested significantly in infrastructure, energy, and agro-processing.

“These firms are playing significant roles in our renewable energy sector and technology development, contributing not only to our economic growth but also to the transfer of critical skills and technology,” she noted.

Looking ahead, the minister encouraged deeper collaborations in sectors such as agriculture, manufacturing, and energy. “We are here in Madrid, looking for strategic solutions and partnerships that will lead to scalable infrastructure development and modernization of our key industries,” she explained.

Asiamah-Adjei also expressed optimism about the potential for Ghanaian businesses and MSMEs to leverage Spain’s expertise to become more competitive in European markets under the existing economic partnership agreement.

Ghana, she added, remains one of the most stable democracies in Africa and is committed to fostering an investor-friendly environment through ongoing regulatory reforms aimed at improving ease of doing business and providing certainty for foreign investors.

“Tailor-made and sector-specific incentives are also designed to ensure Ghana becomes the preferred destination for investment in West Africa,” she said.

“Through deeper collaboration and partnerships, we can create mutually beneficial opportunities for economic growth, job creation, and inclusive development in both Ghana and Spain,” she added.

The forum is expected to yield new business partnerships and investment opportunities that will further strengthen the economic ties between the two countries.

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