17 April 2014

Ghana and Turkey Sign Agreement to Mark New Beginning in Ghana/Turkey Relations

press release

The 4th Session of Negotiations of the Ghana/Turkey Joint Trade and Economic Committee has ended in Accra with the signing of an agreement to increase the volume of trade between the two countries to US $ 1 billion in two years.

The agreement includes the areas of trade, investment, energy, human security, science and industry, health, agriculture, education, water, tourism, maritime and culture.

Other areas of the agreement are exports, the development of free zones, small-medium enterprises, infrastructure, youth and sports, environment, forestry, urbanisation and general technical co-operation.

Addressing the meeting before the signing ceremony in Accra, yesterday, Hon. Haruna Iddrisu, Minister for Trade and Industry, disclosed that he would lead a delegation to Turkey in June, this year, to sign a bilateral Investment Treaty for the promotion and protection of Turkish investments in Ghana, a Free Trade Agreement to reduce tariffs to facilitate easy access by Ghanaian exporters into to Turkish markets, as well as an agreement on double taxation.

Hon. Haruna appealed to the Turkish delegation for support for the training of Ghanaian specialist medical doctors and paramedical staff and urged them to take advantage of the Government of Ghana's Public-Private Partnership (PPP) policy to invest and do business in Ghana.

He pledged government's commitment to ensuring that the objective of the agreement, i.e., increased trade and investment, would be achieved.

For his part, Mr Mehmet Muezzinoglu, Turkish Health Minister and leader of the Turkish delegation to Ghana reiterated the need to increase its trade volume in Ghana.

Mr Muezzinoglu disclosed that Turkey would be holding a Business Council Meeting in Turkey in April, this year.

He said 40 years of friendship with Ghana had been fruitful, adding that Turkey had extended assistance worth US $ 400 million to construct two hospitals in Ghana.

Ghana is Turkey's fourth biggest commercial partner in sub-Saharan Africa and the ninth in Africa.

Turkey's volume of trade reached US $ 381 million dollars in 2013, decreasing slightly, compared to 2012, while in 2013, and Turkey's export to Ghana reached US $ 179 million, while its imports from Ghana were registered as US $ 202 million.

In 2012, Turkey and Ghana set a record in the history of their bilateral commercial relations, when their trade volume exceeded US $ 526 million.

Source: ISD (G.D. Zaney)

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