Ghana-US Trade Ties: Kamala Harris set to visit Ghana
US Vice President Kamala Harris, is set to make a visit Ghana next week to strengthen trade and investment ties between the two countries.
The Vice President’s visit to Ghana, per a statement issued by the American Chamber of Commerce Ghana, represents a unique opportunity for Ghana and the United States to further deepen its bilateral relationship.
The United States is Ghana’s largest bilateral development partner, with a keen interest in the country’s economic development. Bilateral trade between the two countries is estimated to be $1.6 billion as of 2021, while the United States has invested over $22 billion in foreign direct investment (FDI) in Ghana over the last decade.
These investments have made significant contributions to Ghana’s socioeconomic development, providing employment opportunities for thousands of Ghanaians and improving the livelihoods of host communities through various initiatives and Corporate Social Responsibility activities.
The American Chamber of Commerce, Ghana, sees Vice President Harris’ visit as an excellent opportunity for Ghana to build on this relationship and drive further investment from the United States. The Chamber stresses the importance of seizing this golden opportunity to increase diaspora engagement and strengthen cooperation in the creative, educational, health, security, and cultural sectors.
Furthermore, the Chamber advocates for Ghana to align its engagement with the United States’ four key pillars towards Sub-Saharan Africa: fostering open societies, delivering democratic and security dividends, advancing pandemic and economic recovery, and supporting conservation, climate adaptation, and a just energy transition.
To ensure that Ghana can attract further foreign direct investment, the government must continuously institute the necessary reforms to enable the private sector to lead the economic recovery.
This will reassure investors of Ghana’s commitment to a private sector-led economy and the growth of free enterprise. These reforms are essential for Ghana to position itself as the preferred destination for investors.
Ghana has demonstrated resilience in the face of the COVID-19 pandemic, and the United States’ private sector investments have played a pivotal role in supporting Ghana’s fight against the virus. As Ghana moves towards its economic recovery, it is critical that the government continues to prioritize the private sector’s role in driving growth and development. The United States can provide significant support in this area, particularly through investment and cooperation in various sectors.
The visit of Vice President Kamala Harris to Ghana represents a unique opportunity for the two countries to strengthen their relationship further.
Ghana must take advantage of this visit to increase diaspora engagement, attract further foreign direct investment, and align its engagement with the United States’ strategic priorities for Sub-Saharan Africa. These steps will help position Ghana as the preferred destination for investors, driving the country’s socioeconomic development, and cementing its reputation as a leader in the region.
