Ghana and Morocco have signed 26 memoranda of understanding (MoUs) between the government and businesses to strengthen relations in the areas of trade, investment and agriculture with a view to promoting economic enhancement between the two countries.
Both parties reiterated the need to maintain relations to improve the standard of living of their people.
At the governmental level, MoUs were signed for the protection of investment of both countries by their finance ministers while those of industrial co-operation and standardisation was signed for the trade sector.
MoUs were also signed on agriculture, education and energy at the governmental level, while the remaining 21 MoUs were signed between the two governments and businesses ranging from banking, commerce, industry, technical co-operation, stock exchange, tourism, insurance and oil and gas.
King Mohammed VI of Morocco arrived in the country yesterday to start a three-day working visit during which a number of far-reaching decisions would be taken aimed at stepping up the bilateral relations between the two countries.
He inspected a guard mounted in his honour at the Flagstaff House following which President Nana Addo Dankwa Akufo-Addo decorated him with the country’s highest honour of Order of the Companion of the Star of Ghana while King Mohammed also decorated President Akufo-Addo with the highest honour of Morocco.
The two later moved into a meeting of government officials and the business community of both countries.
Business agenda lauded
The President of the Ghana National Chamber of Commerce (GNCC), Nana Appiagyei Dankawoso, who represented the Ghanaian business community, commended the government’s business development agenda with key focus on building the most business-friendly economy that would create jobs and prosperity for all Ghanaians through private sector empowerment.
He said a business meeting was held with the delegation from Morocco in line with the objective of exploring the possibilities of establishing mutual co-operation and partnership that would promote trade, investment and economic ties between Ghana and Morocco.
He said the economic meeting had 210 participants comprising 80 business entities from the two countries in attendance.
The Ghana side was chaired by the First Vice-President of the Ghana National Chamber of Commerce and Industry, Mr Clement Osei Amoako, while the Moroccan side was chaired by the President of the Moroccan Chamber of Commerce, Mrs Miriem Bensaleh Chaqroun.
Mrs Shirley Ayorkor Botcwey, (right), Minister of Foreign Affairs and Regional Integration signing an MOU with her counterpart at the ceremony in Accra. Picture SAMUEL TEI ADANO
Areas of co-operation
Nana Dankawoso said the meeting provided the platform for businessmen and women to explore the untapped opportunities in the areas of agriculture, agro-processing, energy generation, mining, infrastructure, real estate development, information and communications technology (ICT), pharmaceuticals, insurance and tourism.
He said adequate information was provided to enable business representatives to make informed investment decisions following which there was interaction aimed at building business relationships and conclude partnership deals.
“The GNCC reiterated the stance that Ghana was open to business and that we would continue to assist the development of all trade investments opportunities,” Nana Dankawoso said.
To that end, the GNCC was engaging the Moroccan business delegation in a partnership to realise the government’s goal of ‘one district, one factory’ for industrial growth.
President Akufo-Addo together with King Mohammed VI, King of Morocco in a group photograph with government officials of bothe countries. Picture SAMUEL TEI ADANO
He said a number of recommendations were proposed during the business meeting such as the need for the government to improve the macroeconomic situation of the country, encourage public-private partnerships in infrastructural development and streamline business rules and regulations.
The government, he said, should also facilitate access to medium and long-term capital for private businesses in the country, reduce taxes and increase tax rebates because they were critical for business growth.
Mrs Chaqroun pledged the commitment of the Moroccan side to work towards opening more investment opportunities.