Minister for Trade, Agribusiness & Industry Calls For More Strategic Chinese Investment
The Minister for Trade, Agribusiness & Industry, Hon. Elizabeth Ofosu-Adjare (MP) has called for more strategic Chinese investments as part of the belt and road initiative during the China-Africa CEO Dialogue held on Friday, 13th June in Changsha, Hunan Province.
The CEO Dialogue was one of the major highlight events held during the 4th China-Africa Economic & Trade Expo (CAETE) held from 12-15 June. The Dialogue attracted more than 500 high-level officials drawn from government departments, CEOs of government agencies, CEOs of multinational companies, international organisations, Africa Chamber of Commerce, Business Associations & Enterprises, financial institutions, representatives from China Africa Development Fund (CADFund), etc.
The platform was used by both African and Chinese business communities to deepen exchanges, by focusing on green energy and financial innovation to stimulate economic growth.
In her address, the Minister highlighted on Ghana’s unique proposition which is anchored on peaceful business environment, rule of law and strategic position in the centre of the world to serve the global market. She stated that the country continues to attract major Chinese private sector operators and names like Zonda Sinotruk, Sunda, Keda, Sentuo, Sunon Asogli, Huawei, etc. have become household names. The Minister therefore called on other potential Chinese investors to take advantage of government’s flagship 24-hour economy policy.
In addition, the Minister made a strong case for Africa by emphasising that, Africa is expected to he the second fastest growing economy globally this year with 40 countries including Ghana set to achieve post higher growth rates relative to 2023 levels.
The Minister pointed out that Africa stands at a pivotal moment in its development time of transformation, innovation and industrial growth. According to her, the true potential of Africa lies not only in its resources but in its ability to process, refine and innovate, turning raw commodities into high-value products that create jobs and drive sustainable growth.
“Let us move beyond traditional trade relationships and embrace transformational partnerships, ones that promote technology exchange, sustainable industrial practices, and globally competitive African enterprises,” said the Minister.
The Minister urged Chinese investors to take advantage of the African Continental Free Trade Area (AfCFTA) which present an unprecedented opportunity for businesses to access a market of 1.3 billion people with a combined GDP of $3.4 trillion coupled with a growing middle class.
The just ended 4th CAETE, was expected to conclude 128 cooperation projects with a total value exceeding $7 billion through signing or matchmaking during the expo, spanning areas including manufacturing, energy, transportation, logistics, healthcare and information services.
Other high government officials who addressed the plenary session included H.E. Cao Zhiqiang, Vice Governor of People’s Government of Hunan Province, Mr. Joseph Olasunkanmi, Director General, Nigeria-China Strategic Partnership, Miss. Ahunna Eziakonwa, Assistant Secretary. General of United Nations & Assistant General of United Nations & Assistant Administrator and Director of Regional Bureau for Africa, UNDP, Chief Diana Chen, Chair of Choice International Group.
