KARACHI: Eric Owusu Boateng, the High Commissioner of Ghana to Pakistan, extended an invitation to the business and industrial community of Karachi, urging them to establish manufacturing units in Ghana. He highlighted that Ghana provides a safe, secure, and stable environment for foreign investors, earning the reputation of being an “Oasis of Peace” in West Africa. The High Commissioner made these remarks during a visit to the Karachi Chamber of Commerce and Industry (KCCI).
Boateng emphasized the overwhelming advantages that Ghana offers to potential investors and stressed the need to identify mutually beneficial areas to deepen trade, investment, and economic relations between the two countries. He proposed the exchange of trade delegations, participation in trade fairs, and joint programs to enhance collaboration between Pakistan and Ghana.
The High Commissioner highlighted key sectors in which the Ghanaian government seeks foreign investments, including pharmaceuticals, textiles, garments, and tourism. He highlighted Ghana’s high literacy rate of around 80 percent, which provides access to a highly educated labor force that can be further trained as per specific requirements. Boateng also mentioned that Ghana has the most competitive minimum wage in the region.
Ghana has a population of approximately 35 million and is a member of the Economic Community of West African States (ECOWAS). Boateng emphasized that Ghana serves as a gateway to the vast ECOWAS market, which has a population of 316 million and a gross domestic product (GDP) of around $615 billion.
Boateng expressed regret over the lack of direct flights between Pakistan and Ghana but assured that connecting flights would take only about seven hours to reach Ghana, which boasts the leading airport in West Africa. Additionally, Ghana has two major sea ports, enhancing its connectivity and trade potential.
Mohammed Tariq Yousuf, President of KCCI, acknowledged the immense trade potential between Pakistan and Ghana but highlighted the low volume of trade. He mentioned that Pakistan’s exports to Ghana amounted to only around $53 million, while imports from Ghana were $2 million during July-May 2022-23. Yousuf emphasized the need to enhance economic relations and increase trade between the two countries.
Boateng highlighted Ghana’s peaceful democratic political climate, which has remained stable for the past 30 years. He emphasized the peaceful transfer of power regardless of which political party wins, assuring a stable environment with a strong rule of law that encourages private sector investment.
Boateng stressed the importance of translating the warm political relations between Ghana and Pakistan into strong economic ties, emphasizing the significance of government-to-business and business-to-business engagements. He emphasized the role of the private sector as a crucial stakeholder in achieving common goals and called for increased activities and collaborations to deepen economic relations between the two countries.
