African Trade: Ghana is China’s biggest trading partner in West Africa and Number 5 in Africa
Trade volume between Ghana and China hit $1.8 billion in the first quarter of 2016, ranking Ghana Beijing’s largest trading partner in West Africa and 5th on the continent, the Chinese Ambassador to Ghana, Sun Boahong has said.
In 2015, trade figures with China rose to 6.6 billion, an 18 percent year-on-year growth.
“China’s non-financial direct investment inflows into Ghana hit 44.43 million US dollars, ranking 5th in that of Africa and number one in that of West and Central Africa.”
She added that export volume shot up to $400 million, representing 10.62 percentage increase compare to past years.
Boahong hailed the development as growing sign of cooperation between Accra and Beijing.
Boahong also warned of geopolitical risks and destabilising factors in emerging markets.
“Growth prospects [for] developed and emerging economies are diverging, and geopolitical risks and destabilising factors are both on the rise.”
She further assured to the Chinese government’s commitment to development, innovation, coordinations and structural reforms.
“The Chinese government puts development as its top priority for development which are innovation, coordination, green growth, opening up and sharing, and structural reforms,” she said