China’s trade investment into Ghana totals $2.5b in 2011 first three quarters – Report

Chinese business activities in Ghana is said to have amounted to $2.5 billion in the first three quarters of 2011, according to the Daily Graphic publication of December 9, 2011 citing Mr Gao Wen Zhi, Chancellor in Charge of Commercial and Economic Affairs at the Chinese Embassy as saying at the opening of the Ghana-Hubei China Trade Investment Exhibition in Accra.

The publication further cited Mr Gao Wen Zhi forecasting that China’s trade investment into the country is expected to rise to $3.5 billion by close of the year 2011, representing an increase of 50% of the previous year 2010.

The volume of direct trade of the China Hubei Province alone with Ghana amounted to $34.4 million between January and October 2011, more than double the volume for last year, he said.

Trade between Ghana and China reached over $189.395 million at the end of October 2009 according to official statistics published in the Chinese media.

China has not hidden its interest in Ghana in particular and Africa in general. Indeed, bilateral relations between Ghana and China became stronger during the First Republic when Dr. Kwame Nkrumah was President of Ghana.

In the first half of 2009, China invested about $552 million directly in Africa raising China’s direct investment in Africa to 81% from the same period in 2008.

By Pascal Kelvin Kudiabor