Diversify bilateral ties between Ghana, Australia — High Commissioner
Australian High Commissioner to Ghana, Berenice Owen Jones, has said deepening and diversifying bilateral ties between Ghana and Australia will play a pivotal role in fostering a thriving trade and investment relationship between the two countries.
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She said the potential for increased trade and investment between both countries has not materialised as expected, hence the need to promote bilateral initiatives to achieve.
According to OEC World, in 2021, Ghana exported $196 million to Australia. The main products exported from Ghana to Australia were Gold ($190million), Cocoa Paste ($3.82million), and Basketwork ($470,000).
During the last 26 years the exports of Ghana to Australia have increased at an annualised rate of 18.9 per cent, from $2.17million in 1995 to $196million in 2021.
In 2021, Australia exported $86.7 million to Ghana. The main products exported from Australia to Ghana were Delivery Trucks ($12.2million), Aluminium Oxide ($11.6million), and Liquid Pumps ($3.24million).
During the last 26 years the exports of Australia to Ghana have increased at an annualised rate of five per cent, from $24.4million in 1995 to $86.7 million in 202.
Launch of AGCCI
Speaking at the launch of the Australian Ghanaian Chamber of Commerce and Industry (AGCCI) in Accra last Thursday, Ms Jones said “it is clear that beyond mining, Australian investment and the bilateral commercial relationship has not reached its full potential.
I would like to see this potential turn into reality. Ghana has a lot to offer Australian companies and it remains a destination of choice for them in Africa.”
She explained that in Ghana, many of Australia’s trading companies were involved in the mining industry from surveying, exploration, mine designing and construction to contract drilling and excavation where these companies have played a significant role in the development of Ghana's extractive sector.
However, she said there is the need for Australian companies in Ghana and Ghanaian companies in Australia to take greater advantage of opportunities in other sectors.
She was hopeful that the AGCCI will help make a difference adding that “the low hanging fruits are areas where Australia has a comparative advantage, which matches Ghana’s needs.
The AGCCI will help build bridges between our two countries and strengthen partnerships both in Ghana and Australia.”
Diversification
The Minister of Trade and Industry, K. T. Hammond, explained that in recent years, trade relationship has expanded beyond mining and agriculture.
Much as there is ample room for improvement, he said Australian companies have successfully ventured into other sectors such as infrastructure development, manufacturing, information technology, and renewable energy.
This diversification, he said has opened up new avenues for trade and investment, creating more opportunities for both Ghanaian and Australian businesses.
However, he said there is still tremendous untapped potential that both countries can explore and exploit.
Mr Hammond said the Ministry was committed to further strengthening trade and investment relations with Australia.
“To achieve this, we must focus on enhancing market access and reduce trade barriers. We should explore avenues for knowledge sharing, technology transfer, and capacity building. It is through collaboration, innovation, and entrepreneurship that we will be able to unlock the full potential of our bilateral ties,” he said.
The minister encouraged more Australian companies to explore the opportunities that Ghana offers.
“Our stable political climate, skilled workforce, and abundance of natural resources make Ghana an attractive investment destination. We are open for business and eager to forge new partnership that will drive our economic development and improve the lives of our people,” he added.
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