Organisations from Ghana, Kenya sign multiple pacts to boost trade

07 Apr '24

1 min read

Pic: Adobe Stock

Insights

Organisations from Ghana and Kenya recently signed multiple pacts in Accra as part of steps by both sides to consolidate bilateral trade.
The cooperation is being worked out within the purview of the African Continental Free Trade Area agreement.
Visiting Kenyan President William Ruto and Ghanaian President Nana Addo Dankwa Akufo-Addo witnessed the signing.

Several organisations from Ghana and Kenya recently signed multiple agreements in Accra as part of steps taken by both countries to consolidate bilateral trade as they seek to lead Africa’s economic renaissance.

The cooperation, initiated at the instance of Ghana’s President Nana Addo Dankwa Akufo-Addo, is being worked out within the purview and objectives of the African Continental Free Trade Area (AfCFTA) agreement. Visiting Kenyan President William Ruto and Akufo-Addo witnessed the signing ceremony.

The agreements were signed by the Ghana Investment Promotion Centre, the Kenyan Investment Authority, the Association of Ghana Industries, the Kenya Association of Manufacturers, the Ghana National Chamber of Commerce and Industry, the Kenya National Chamber of Commerce and Industry and the Ghana Institute of Management and Public Administration.

The business community is responsible for raising intra-Africa trade, leveraging the opportunities within AfCFTA, the continent’s financial resources and technological advancement, the Ghanian president was cited as saying by a domestic news agency.

In the last 26 years, the exports of Ghana to Kenya have increased at an annualised rate of 18.2 per cent, while the exports of Kenya to Ghana have increased at an annualised rate of 14.2 per cent.

Fibre2Fashion News Desk (DS)

More Textiles News - Ghana...