Dr Nana Appiagyei Dankawoso I (right), the President of the Ghana Chamber of Commerce and Industry (GCCI), signing the agreement between the two entities, while Mr Omer Cihad Vardan (left), the President of DEIK, waits for his turn

Two entities seal agreement to promote trade

Maclean Kwofi Business News Mar - 15 - 2016 , 08:32

The Ghana Chamber of Commerce and Industry (GCCI) and the Foreign Economic Relations Board (DEIK) in Turkey have signed a memorandum of understanding (MoU) to help promote trade between the two countries.

The move is also expected to strengthen the relationship between Ghana and Turkey through the industrial and technological collaboration of enterprises and economic institutions in these countries.

The President of the Ghana Chamber of Commerce and Industry (GCCI), Dr Nana Appiagyei Dankawoso I, signed for the GCCI, while the President of DEIK, Mr Omer Cihad Vardan, initialed for DEIK at a ceremony held in Accra.

Both entities agreed to cooperate in the promotion and creation of the Turkey-Ghana Business Council to coordinate efforts to collect, combine, analyse, evaluate and diffuse information with regard to trade, industrial and technological cooperation and investments, to the mutual benefit of the two nations.

The initiative, according to the agreement, will ensure the diversification of trade and development of a network of activities related to the industrial sector.

Under the MoU, the Business Council is expected to meet at least once a year on an alternating basis in Turkey and Ghana to examine the achievements and opportunities in the fields of trade, investments and technological cooperation.

Also, some of the areas of collaboration under the MoU are that the Business Council will identify obstacles in trade and economic cooperation and submit its proposals for redress.

Others are the organisation of exhibitions and trade fairs, as well as encouraging members to participate at such activities.

Development of trade

Dr Dankawoso said the initiative would promote the development of trade and industry in Ghana, adding that he was optimistic about the prospects of the agreement because of the level of cooperation that existed between businesses in the two countries.

“The desire to contribute to the development, promotion and diversification of exports, economic cooperation and industrial growth in Ghana and Turkey also led to the signing of the MoU between the GCCI in 2012 for the establishment of an industrial zone in Ghana,” he noted.

The main objective, he said, was to relocate Turkish businesses to Ghana and partner Ghanaian entrepreneurs to produce and take advantage of the huge West African market.

“Beyond that it will also be a hub for training the youth in various skills and vocations in line with the government of Ghana’s initiative on youth employment,” he added.