Ghana and Turkey sign $1 billion trade agreement

Ghana and Turkey signed a one-billion-dollar trade agreement to strengthen bilateral trade between the two countries, in Accra on Thursday.

Under the agreement, the two countries have set themselves three years to achieve the target, which cuts across trade, agriculture and tourism.

Turkey would also assist Ghana to build capacity and infrastructure in the agriculture and tourism sectors, among others.

Ms Hannah Tetteh,  Ms Sena Akua Dansua and Mr Kwesi Ahwoi, the Ministers of Trade and Industry, Tourism and Food and Agriculture respectively signed on behalf of their respective Ministries while Professor Recep Akdag, Turkish Minister of Health and the head of that country’s business delegation signed for his country.

The delegation was in the country for the second Ghana-Turkey Joint Economic Commission meeting in Accra, aimed at accelerating growth and development in trade and industry.

Apart from developing trade and infrastructure relations to boost the economies of the two countries, the meeting sought to assist help in the exploration of opportunities for partnership.

Ms Tetteh said the two-day deliberation was fruitful and asked the two countries to work hard towards achieving the target.

She commended the Turkish Government for partnering Ghana for the benefit of the two nations.

Prof. Akdag was grateful that the two countries were able to build goodwill and set the right target.

He said: “There is no target that we cannot achieve. I believe that with hard work and dedication the two countries will achieve their targets,” and pledged Turkey’s commitment to sustaining trade relations with Ghana.

Ms Tetteh and Ms Dansua presented gifts to Prof. Akdag on behalf of their respective Ministries.

The Turkish economy has been the fastest growing economy among OECD and European countries with a growth rate of 8.9 in 2010. With a growth rate of 10.2, Turkey has  become the fastest growing economy in the world with a growth rate of 10.2 in the first half of 2011. Our goal is to become one of the first 10 biggest economies in the world by the year 2023.

In the year 2010, Turkey has realized $114 billion of exports and $185 billion of imports and has reached a trade volume of almost $300 billion.

The trade volume between Turkey and Ghana was $63 million in 2003 and the figure has exceeded $290 million in 2010.
Source: GNA