Bilateral trade volumes between Ghana, Switzerland doubles
Bilateral trade volumes between Ghana and Switzerland shot up from $1.5 billion in 2019 to over $3 billion in 2023, the Minister for Roads and Highways, Francis Asenso-Boakye, has said.
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He said economic cooperation between Ghana and Switzerland had also witnessed a gradual, yet significant increase over the past decades adding that, Switzerland was one of the few countries with a trade balance in favour of Ghana.
“Ghana, therefore, greatly values its economic relations with Switzerland. With the operationalisation of the African Continental Free Trade Area (AfCFTA), Ghana has become a more attractive destination for foreign direct investment.
I, therefore, invite more Swiss companies to take advantage of the attractive investment packages to be derived from access to the region and partner Ghanaian businesses to strengthen the private sector and enhance its capacity to create more jobs for our youth,” he said.
Mr Asenso-Boakye made this known in Accra last Thursday, during the celebration of Swiss National Day.
Economic relations
Mr Asenso-Boakye, said Ghana greatly valued its economic relations with Switzerland pointing out that, due to the peaceful political climate, security, democratic credentials and favourable investment conditions, there were over 55 Swiss investments in the country.
These, he said included Nestle Ghana, Accra Brewery and Pioneer Aluminium Factory.
“Ghana and Switzerland continue to collaborate actively in peace and human security cooperation, with Switzerland being one of the main sponsors of the Kofi Annan International Peacekeeping Training Center here in Accra.
I am happy to note the people-to-people connections made every day, which is critical to maintaining strong bilateral relations,” he stated.
While recognising the contributions made by Swiss nationals resident in Ghana to the country’s economic, social and cultural diversity, he commended the positive contributions of the Ghanaian community in Switzerland, who were known to be very well integrated, hard working and law abiding.
Touching on the exchange of several high-level visits between the two countries, Mr Asenso-Boakye said they sought not only to deepen the growing bond of friendship between the two countries but also promote economic cooperation and encourage people-to-people interaction for mutual benefits.
Exports
The ambassador of Switzerland to Ghana, Simone Giger, said exports from Ghana to Switzerland amounted to $3 billion in 2023.
At the same time, she added, Ghana retained its position as the second largest trading partner of Switzerland in sub-Saharan Africa, topped only by South Africa.
Ms Giger pointed out that under Switzerland’s new cooperation framework with Ghana for the years 2025 to 2028, they would collaborate with Ghana in a number of areas relevant for inclusive development.
“Working closely with the private sector, we aim to strengthen strategic value chains, invest in skills development, especially for young people, support an effective decentralisation, including bottom-up accountability measures and scale renewable energy solutions,” she further stated.
Furthermore, she added, Switzerland would continue to support the empowerment of girls and women, as the embassy was convinced that a truly democratic, prosperous and thriving Ghana was only possible if women had a say in the nation's governance.
On other areas of collaboration, she said Swiss’ were proud of their democratic practices and happy to share their experiences with countries that showed interest in them pointing out that, Swiss Department of Foreign Affairs had declared support to democracy as one of its strategic goals and that involved fostering democratic resilience in existing democracies that were coming under external and internal pressure.
She said Ghana’s open and vibrant political space with its animated discussions gave a sense that citizens cherished their democracy and understand the value of the country’s political system as much as they, the Swiss do.