5 November 2018

Ghana: Ethiopia-Ghana International Conference to Stir Trade Relations

The historical and political relations between Ghana and Ethiopia began in the period when President Kwame Nkrumah of Ghana and Emperor Haile Selassie of Ethiopia played instrumental roles in the decolonization process of Africa and the strengthening of Pan-African institutions.

Since the establishment of the cordial relations back then, the two countries have enjoyed a rather smooth partnership.

The string bonds have escalated their union to trade and investment relations. Most African economies have formed bilateral agreements based on what transpired in the past, majorly under the political arena. Ethiopia and Ghana seek to strengthen their connection by working together for mutual benefits in the future.

Ethiopia will host the second Ghana International Trade and Finance Conference (GITFIC) come April 2019 from 11th to 12th. Addis Ababa will host the first-ever Ethio-Ghana International Conference on Trade and Finance, an event that is expected to pull participants from far and wide to discuss business.

According to Selasi Kofi Ackom, Chief Executive Officer of the Rescue Shipping and Investment Agency Limited stated, "This upcoming conference as always will create the platform for business VVIPs, VIP's, CEO's, MD's, Owners, etc. to meet and discuss business and investments opportunities between the two countries."

In addition to facilitating trade between these two countries, he said, "All businesses in Ghana are encouraged to sign up for next year's conference in Addis. The Addis market is three times that of Ghana. The youth makes up 70 percent of the total populations in Ethiopia. This means that companies and businesses can triple their revenue and profit margin if they extend their investments into the Ethiopian Market."

Ethiopia, has much potential to continue to be a sought-after investment destination in East Africa by foreign investors.

Ghana recorded a trade surplus of $540.50 million in the second quarter of 2018 with a decrease in imports from $3333.30 million in the first quarter of this year to $3222.40 million in the second quarter same year, according to trading economics.

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