With Guyana’s economy on the rise, Ghana is looking to become a major trading partner, with the establishment of a Ghanaian Chamber of Commerce.
The Office of the Ghanaian Chamber of Commerce, located on Church Street, was commissioned today by Ghana’s Minister of Trade and Industry, Kobina Hammond, and Minister of Public Works, Juan Edghill.
Minister Hammond said the establishment of the Ghanaian Chamber of Commerce – the first of its kind in the Caribbean – augurs well for the two countries that share many similarities.
“This is commerce, this is trade. We are talking about industrialization, we are talking about development of our respective countries but you cannot produce, you cannot industrialize, and keep all of the products that are produced in your country, there has to be some sort of trading relationships between countries. The goods have to be sent to other countries, that’s the essence of trading, that’s the essence of commerce, and it is important that you get an establish based where the two countries, their entrepreneurs, the traders, the businessmen within the countries can concentrate some attention,” the Ghanaian Minister explained.
Minister Hammond expressed confidence that with time, Guyana and Ghana will have a “seamless” trading relationship.
Chief Executive Officer (CEO) of Ghana’s Freezones Authority, Ambassador Michael Oquaye said that there are opportunities for partnerships in the area of pharmaceuticals.
Ghana is also the second largest producer of cocoa in the world after Cote d’Ivoire. Ambassador Oquaye said Ghana is also known for its services, particularly, in the Oil and Gas Sector, and also in the area of Manufacturing.
Meanwhile, Minister of Public Works, Juan Edghill, who is also responsible for the Aviation Sector, said with Guyana and Ghana having signed an Air Services Agreement, it is now for the Private Sector to operationalized that agreement.
“We have signed an air service agreement with Ghana, and it’s now up to the Private Sector, and I am glad that this chamber is being launched, it is now left up to the Private Sector both here in Guyana, and in Ghana to operationalize an airline in keeping with those terms of conditions and freedoms that exist in that Air Services Agreement. So, if there is anything that could bring our people together, faster, is air transport,” Minister Edghill said.
A direct flight from Ghana to Guyana takes approximately 5-6 hours, however, an interconnected flight usually takes about 25-30 hours, in some cases 38 hours.
Further, he said the entrepreneurial spirt of the Ghanaian, and Guyanese people must be maximized, however, he said common barriers must be addressed.
“And I think, if I can say this as a brother and a friend, one of the greatest barriers we have to deal with is to reduce the level of suspicion, especially with experiences of the past of what people perceived business in African to be like,” Minister Edghill said.
Chief Executive Officer of GO-Invest Peter Ramsaroop said the Ghanian Chamber is a plus for both Guyana and Ghana.
“Apart from agriculture, there is tourism…but also, they are lead in manufacturing, although they can help us to support the Oil and Gas Industry, we are very interested in what they have done in manufacturing, even manufacturing cars. Guyana, with our President’s initiative, transformation project, reducing energy cost by 50%, we are going to be ready for manufacturing very, very quickly. So, the more we can learn, the more we can partner with global leaders in manufacturing, and I believe this is one way Ghana and Guyana could come together very quickly,” Mr Ramsaroop explained.
He said the chamber, like other commercial chambers established over the years, will help the Guyanese Private Sectors to establish global sectors, and increase competitive.
Guyana and Ghana established diplomatic relations on May 14, 1979, however, those ties were strengthened in 2019.
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