BUSINESSFOREIGNNEWS

Ghana pursues bilateral investments with Trinidad & Tobago

Delegation from the Ghana Investment Pro­motion Centre (GIPC) and the Ghana Export Promotion Authority (GEPA) has engaged authorities of Trinidad and Tobago about considering double taxation and bilateral investment treaties to further en­hance trade flow between the two nations.

The talks were held when the delegation met with representatives of Trinidad and Tobago’s Chamber of Industry and Commerce (TT Chamber) last week.

The team from Ghana further identified key sectors in Trinidad and Tobago, including its manu­facturing sector as prime area for partnerships with Ghanaian SMEs.

A statement issued by GIPC in Accra yesterday said at the meeting, the Centre’s CEO, Yofi Grant, opined that a collaboration between the two countries would yield mutually beneficial outcomes, considering each other’s economic situations and contributions.

“For us in Ghana, partnerships for linkages and trade are key because we do have significant raw materials for which we want to add value and then export, and I believe that T&T is really the industrial powerhouse of the Caribbean so there is a lot to learn. But there is also a lot to trade not only in goods but services, particu­larly in the oil and gas sector where Trinidad and Tobago seem to have built some capacity and experience which they can leverage in Ghana,” he said.

The CEO of GEPA, Dr Afua Asabea Asare, also mentioned plans to establish a Ghana Trade House in Trinidad and Tobago, “which will bring the cultural aspect, the trade aspect and every­thing together in a space where people can come in and see what Ghanaians offer.”

To facilitate the collaboration between the two countries, the TT Chamber disclosed that it will conduct an audit of its members that are already doing business in Africa, which will serve as a start­ing point for future engagements.

The Chamber said it will estab­lish a liaison with GIPC to ensure efficient and effective collabora­tion.

According to the TT Chamber president, Kiran Maharaj, “the opportunities in Ghana are very promising, and it is apparent that they have built an economy and business environment that the TT Chamber indicated interest and commitment to foster strong part­nerships with Ghana and leverage expertise to boost manufacturing and economic growth in both countries.”

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