Trade: US committed to being a strong, long-term partner to Ghana – Dep. Secretary Don Graves
Deputy Secretary of the United States Department of Commerce, Don Graves, has assured government of US commitment to being a strong, long term and stable trade partner to Ghana.
Speaking at the US – Ghana Business Forum themed Leveraging AfCFTA to Promote US-Africa Commercial Partnerships on Thursday, June 16, 2022, Mr Graves averred the US’ commitment to Ghana will be in ways that are mutual, respectful and allow citizens of both countries to succeed and grow economically.
“This is not about exploitation, but about friends and partners who invest with and in each other because they know that the better off their friend is, the better off they will be.
“Through this partnership, we aim to expand trade and investment between the US and Ghana while creating jobs and sustainable growth in both countries,” he remarked.
Trade between Ghana and the US at the end of 2021, per official data amounted to $2.7bn. The US in the same year – 2021 – was the largest bilateral donor to Ghana.
Speaking further at the event, Deputy Secretary Don Graves noted the US is also committed to supporting agricultural investments, increased fertilizer and energy production in Ghana in light of the country’s recovery from the shocks of the Covid pandemic, rising inflation, tight supply chains along with food and energy insecurity.
Challenges he asserts, have significantly been exacerbated by Russia’s war on Ukraine.
“This is why we remain committed to increasing trade and investment between our countries as a key driver towards recovery,” he added.
Further noting that, the US government is currently developing a commercial engagement plan called the Africa Commercial Engagement Strategy (ACES) for Ghana and the rest of Africa.
The ACES, US Deputy Secretary Don Graves posits, will guide the US’ engagement with African businesses and governments on transportation, health, energy and digital infrastructure.
US – Ghana Business Forum
The US – Ghana Business Forum is a 3rd high-level meeting between US and Ghanaian Government Officials and Businesses aimed at deepening diplomatic and commercial partnerships between Ghana and the United States for successful implementation of the African Continental Free Trade Area agreement.
The Forum was themed Leveraging AfCFTA to Promote US-Africa Commercial Partnerships.
The Forum is line with the drive by the AfCFTA Secretariat to engage the private sector, the African diaspora and other strategic partners for the effective and successful implementation of the agreement.
The AfCFTA is the world’s largest free trade area covering 1.3 billion people and with a GDP of $3bn.
The AfCFTA presents a window for African countries and its trading partners to take advantage of the many trade and investment opportunities created.
