Beijing: President John Dramani Mahama has praised China's decision to offer zero-tariff access to Ghanaian and African products, signaling confidence in the partnership between the two nations. "It opens vast new markets for Ghanaian exporters, agro-processors, and manufacturers," President Mahama stated during his remarks at the Presidential Business Forum in Beijing, part of his state visit at the invitation of Chinese President Xi Jinping.
According to Ghana News Agency, President Mahama announced an agreement in principle, aiming for the end of October to sign off on the zero-tariff principle, commending the Chinese Government for their solidarity. Under Ghana's reset agenda and the vision of a 24-hour economy, the foundations for inclusive growth are being rebuilt, with a firm belief that sustainable development is best achieved through strong, mutually beneficial partnerships.
President Mahama highlighted the longstanding relationship between Ghana and China, rooted in friendship, trust, and strategic cooperation for over six decades. Ghana was among the first sub-Saharan African countries to establish diplomatic relations with China, and this year marks 65 years of diplomatic relations. Over the years, these relations have matured, grounded in mutual respect and shared aspirations.
The President noted that China is Ghana's largest trading partner, with bilateral trade reaching $11.8 billion in 2024. Between 2020 and 2024, China's exports to Ghana rose by nearly 46 percent, while Ghana's exports to China increased by over 11 percent. He emphasized the timeliness of China's initiative amidst a global environment where multilateral rules-based trading systems are challenged by unilateral tariffs.
Through initiatives like the Belt and Road and the Forum on China-Africa Cooperation, Chinese collaboration has strengthened Ghana's infrastructure in energy and industrial capacity. Between 2013 and 2024, Chinese investments recorded by the Investment Promotion Centre are set to total nearly $4 billion, covering more than 400 projects and creating thousands of jobs for Ghanaian youth.
President Mahama reflected on China's transformation over the past four decades, noting its remarkable success in lifting the greatest number of people out of poverty in the shortest time in history. He stated that Ghana, too, is at a pivotal point in its transformation, determined to industrialize its economy, expand value-added exports, and empower citizens through technology and enterprise.
Under Ghana's Constitution and the Ghana Investment Promotion Centre Act, expropriation of investments is banned, and investors enjoy unrestricted repatriation of their dividends and proceeds in their chosen convertible currency. Ghana's laws protect investment against discrimination, expropriation, and nationalization, consistent with international best practices.
Ghana is a proud member of the International Centre for Settlements of Investment Disputes and a signatory to the New York Convention, ensuring protection under transparent international arbitration mechanisms. Pro-enterprise reforms are being implemented to make Ghana one of the most business-friendly destinations in Africa. A new Investment Promotion Authority Bill will abolish minimum capital requirements for foreign and joint venture investors, providing a path for long-term investors to qualify for Ghanaian citizenship. Public-private partnership frameworks are being modernized to ensure faster, fairer, and more transparent application approvals.
