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Trade between Ghana and China hit US$4 billion in first half of 2021.

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Trade between Ghana and China hit US$4 billion in first half of 2021. 46

 

 

Bilateral trade between Ghana and China has in the first of 2021 reached over US$4 billion, Chinese Ambassador to Ghana, H.E. Lu Kun has disclosed.

According to him, despite the adverse impact of the coronavirus pandemic, trade between the two countries continues to witness substantial growth.

Addressing participants at a symposium organised by the Institute of Economic Affairs on Tuesday August 17, 2021, the ambassador said the latest trade figures increased by almost a quarter as compared to 2020.

“The economic and trade exchange between China and Ghana has been flourishing. China is Ghana’s biggest trading partner and foreign investment source. In 2020, the bilateral trade increased, instead of reducing amid the pandemic. In the first half of 2021, the bilateral trade volume amounted to US$4.382 billion, a year-on-year increase of 23.8%,” he revealed.

“The China-invested airline company, power plant, steel company, ceramic company, cement factory, tomato juice factory and paper diaper factory make significant contributions to creating jobs and promoting development in Ghana. Six lots of the Sinohydro projects are forging ahead remarkably,” H.E Lu Kun said.

He continued, “China-aided projects including Phase II of University of Health and Allied Sciences in Ho, Jamestown Fishing Port Complex, the Annex Building of the Ministry of Foreign Affairs and Regional Integration are making steady progress.”

The IEA symposium which was themed; “Forum on China-Africa Cooperation as a vehicle for infrastructure development in Africa,” was organised to highlight China’s contributions to the continent’s infrastructure development as well as explore possibilities towards reshaping the current China-Africa relationship to benefit both parties.