Ghana and China have signed eight (8) Co-operation Agreements and Memoranda of Understanding, in different sectors of their respective economies, aimed at deepening the ties of co-operation and the bonds of friendship that exist between the two countries
of the People’s Republic of China, His Excellency Mr. Xi Jinping, held bilateral talks, as part of President Akufo-Addo’s State Visit to China.
The agreements are the “One belt one road Memorandum of Understanding”, “Memorandum on Regional Aviation Co-operation”, “Agreement for Co-
operation in the peaceful use of nuclear energy”, and “Co-operation to carry out Maternal and Child Health Project”.
The rest are “Framework Agreement on Financing Insurance Co-operation” ($2 billion Sino-Hydro deal), “Economic co-operation on Phase 2 project of the University of Health and Allied Sciences, Ho”, “Co-operation on the expansion of the Cape Coast Stadium”, and “Co-operation on the supply of police
vehicles to the Ghana Police Service.”
President Akufo-Addo with Chinese Premier, Li Keqiang
Speaking with President Xi Jinping, prior to the signing of the eight (8) Agreements, President Akufo-Addo noted that the relationship between Ghana
and China, over the years,
With China, for the last three years,
Highlighting some matters of critical concern to the country, President Akufo-Addo noted that his Government has been engaged in the fight against the
menace of illegal
President Akufo-Addo urged his President Xi Jinping to intervene in the matter, stating that “we want your
Minister for Roads and Transport, Kwasi Amoako-Atta signing the $2 billion Sino-Hydro deal on behalf of Government
On the development of Ghana’s infrastructure, he also told his Chinese counterpart that Ghana is interested in receiving investments from China
towards specific sectors of the economy, such as the railway and road network.
“We are thinking about a railway network that is intended to be a part of the Belt and Road Initiative, which will link our country to the Maghreb Region,
and, thereby, recreate the old trade route that linked the Southern part of West Africa to North Africa,” he added.
President Akufo-Addo at the premises of Power China
With Ghana exiting the IMF arrangement by the end of 2018, an arrangement entered into by the predecessor administration, President Akufo-Addo
stressed that “we are determined never to return into the focus of an IMF Programme.
“In order to do so, we are looking seriously at how we can secure sources of long-term finance that will allow us to deal with our infrastructural
development, and also
He told President Xi Jinping that, “The Ministry of Finance and the economists in Ghana are looking at floating a $50 billion Century Bond. This will provide us with the resources to finance our infrastructural and industrial development. We are hoping that, at some stage, China will interest itself,
and take a part of it as China’s contribution to Ghana’s development.”
President Akufo-Addo holding bilateral talks with Chinese Premier, Li Keqiang
Meeting with Chinese Premier
Later that day, President Akufo-Addo held bilateral talks with Mr. Li Keqiang, Premier of the State Council of the People'
President Akufo-Addo and the Chairman of Power China in a discussion prior to the signing of the deal
The President told the Chinese Premier that a significant focus of his visit to China has to do with the $2 billion Sino-Hydro
railway development of our country.”
President Akufo-Addo was hopeful that his visit to China will “reinvigorate our relationship, provide us with the opportunity to contribute to the success of the FOCAC summit, and also enhance the nature of the co-operation between our two countries.”
credit: Jubilee House Communications Bureau