2 Chambers sign MoU to boost trade

The Ghana National Chamber of Commerce and Industry (GNCCI) has signed a memorandum of understanding (MoU) with the Federation of Chambers of Commerce, Industry and Agriculture in Lebanon (FCCIAL), to boost trade and investment relations between Ghana and Lebanon.

Under the agreement, the two parties will commit to promoting and facilitating effective cooperation in areas of trade, investment, technology transfer and related economic, as well as industrial activities.

Additionally, the parties will establish effective communication between member companies of both organisations, with particular reference to the private sector.

The Chief Executive Officer (CEO) of GNCCI, Mark Badu-Aboagye, signed on behalf of his organisation, while the Lebanese Ambassador to Ghana, Maher Kheir, appended his signature for the FCCIAL.

The signing ceremony, which took place on February 20, was witnessed by the second Vice President of GNCCI, Stephane Miezan, and a Member of Parliament (MP) and President of the Lebanon/Ghana Parliamentary Friendship Association, Ghassan Attallah.

Commitment

Mr Miezan expressed the commitment of the chamber to explore collaborations that would promote trade and investment between Ghana and other countries.

He underscored the need for Lebanese businesses to take advantage of the various opportunities in Ghana by establishing firms that could benefit consumers in Africa.

He said the agreement signed between the two chambers would further promote investment through joint ventures and other mutually beneficial arrangements, providing support to each other for identifying specific projects and partners.

Mr Miezan said the agreement also outlines a commitment to support each other in activities such as seminars, courses and conferences to be organised in both countries, with the view of enhancing and strengthening bilateral economic ties.

He explained that to facilitate the exchange of industrial and business delegations between the two countries, the agreement also provides for the exchange of information on commercial, industrial, and economic laws and regulations between the two countries.

Technical experience

With the agreement, he said the parties have committed to extending and providing cooperation to their members to participate in the trade fairs and exhibitions held in both countries and also in the promotion of the respective trade fairs.

“The MoU also encourages the exchange of technical and professional experience between members and to meet periodically, whenever and wherever mutually agreed upon, to review progress and make out plans for future cooperation.

“The agreement also provides for the exchange of secretariat staff to share experience and training in each other's organisation so as to facilitate the promotion of a closer cooperation under this MoU,” he added.

Gratitude

Mr Kheir expressed gratitude for the longstanding relationship between Lebanon and Ghana and stressed the importance of enhancing cooperation between the two countries.

He stated that he was willing to facilitate any business partnerships between Ghanaian and Lebanese companies, and called on the GNCCI to discuss potential bilateral trade and investment opportunities between the two countries.