Accra: Trade between Ghana and India has reached $3 billion, with Ghana maintaining a favorable balance, Foreign Affairs Minister Samuel Okudzeto Ablakwa revealed ahead of the state visit of Indian Prime Minister Shri Narendra Modi.
According to Ghana News Agency, Mr. Ablakwa emphasized India's role as a development partner, providing credit lines exceeding $450 million over two decades. These funds have supported transformative projects in sectors like energy, agriculture, ICT, transport, and education, showcasing the depth of the economic cooperation between the two nations.
Mr. Ablakwa, at a press briefing in Accra, stated that the visit is expected to deepen economic ties, boost trade volumes, and solidify Ghana's position as a hub for India's development cooperation in West Africa. He noted that India remains one of Ghana's most trusted and strategic partners, with cooperation yielding significant projects across sectors such as agriculture, energy, health, ICT, education, and transport infrastructure.
India and Ghana's relationship dates back to the early days of Ghana's independence, with a consulate opened in Accra in 1953. The countries have built on a foundation of political solidarity, trade, investment, and South-South cooperation.
Mr. Ablakwa highlighted that Ghana enjoys a trade surplus with India, driven primarily by gold exports. India is one of the largest importers of Ghanaian gold and continues to drive bilateral trade. Beyond gold, India's engagement with Ghana has evolved into a comprehensive development partnership, including credit lines, grants, and technical cooperation.
The Foreign Minister mentioned that trade volumes peaked at $4.5 billion before the COVID-19 pandemic and expressed optimism for increased figures during Prime Minister Modi's visit. He outlined flagship projects financed through Indian credit lines and grants, such as the Kofi Annan ICT Centre of Excellence, Komenda Sugar Factory, and Elmina Fish Processing Plant.
Other key projects include the Tema-Mpakadan Standard Gauge Railway Line, the Tamale-Wa Road, and an agricultural machinery assembly plant. Mr. Ablakwa also mentioned the Rural Electrification Project and the Foreign Service Institute, established with an Indian grant.
Mr. Ablakwa stated that Prime Minister Modi will be welcomed by President John Dramani Mahama, followed by meetings and bilateral discussions. Areas of focus will include establishing a Ghana-India Joint Commission, cooperation on agriculture, support for vaccine manufacturing ambitions, defence collaboration, cultural exchanges, and mutual recognition of standards.
Several Memoranda of Understanding will be signed, including agreements between the Ghana Standards Authority and the Bureau of Indian Standards, partnerships in health and allied sciences, collaboration in traditional medicine and education, and MoUs on agriculture and defence cooperation.
President Mahama will host a state banquet in honor of Prime Minister Modi, where Ghana will confer its highest national award on the Indian leader. On July 3, Prime Minister Modi will engage with the Indian community in Ghana, visit the Kwame Nkrumah Memorial Park, and address Ghana's Parliament.
The Foreign Minister expressed confidence that the visit will strengthen Ghana-India relations and explore new cooperation areas.
