India wants investment protection agreement with Ghana signed early

India wants a treaty with Ghana to protect each country’s investments signed quickly.

The Indian Minister of Commerce and Industry, Anand Sharma made the appeal to Ghana’s Minister of Finance, Dr. Kwabena Duffuor in Accra. Sharma is in Ghana pursuing India’s “Focus Africa” policy. The policy is aimed at exploring new markets in Africa.

In 2002 Ghana and India agreed on a bilateral treaty aimed at protecting and promoting  each country’s investments in  their countries. The treaty was one of four others initiated when President J. A. Kufuor visited India in August 2002. One of the agreements led to the establishment of the Ghana-India Kofi Annan Centre of Excellence in ICT.

The Indian Commerce and Industry Minister said in a statement that an early conclusion of the agreement was essential for elevating the trade and economic engagement between the two countries.

In March 2010, the Indian media reported during a visit to that country by Vice President John Mahama that Indian businesses operating in Ghana have altogether invested $277 million in six projects in the country.

By Emmanuel K. Dogbevi