Ghana seeks joint ventures with Pakistan

Envoy calls African nation land of vast investment opportunities

LAHORE:

Ghana Ambassador Eric Owusu Boateng has invited Pakistan’s business community to forge joint ventures with its counterparts in the African nation.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI), the ambassador called Ghana a land of vast investment opportunities that should be availed of by Pakistani investors.

He particularly cited pharmaceutical, textile, garments and tourism as areas where investors could capitalise on the emerging opportunities.

He called on the business communities of both countries to make joint efforts to explore the avenues of trade and investment, adding that exchange of trade delegations and participation in exhibitions and fairs could help boost economic ties. He also called for starting direct flights between the two countries.

LCCI President Kashif Anwar said that the business community considered Africa a great potential market in line with the GoP’s “Look Africa” initiative. “Pakistan enjoys cordial relations with all African states and is equally keen to build trade and economic ties with Ghana,” he said.

Citing figures, LCCI SVP Zafar Mahmood Chaudhry described Ghana as an important and emerging economy of Africa with its GDP nearing $80 billion and trade around $32 billion.

According to trade data extracted from the SBP, total exports from Pakistan to Ghana were worth $39.6 million in FY2020-21, which increased to $56 million in 2021-22. During the same period, imports from Ghana, which were already negligible, came down to $1.9 million from $2.4 million.

Published in The Express Tribune, July 15^th, 2023.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.