Trinidad and Tobago, Ghana seek to deepen trade relations

The expansion of bilateral trade and investment between TT and Ghana were the focus of a high-level meeting hosted by the Ministry of Trade and Industry on Thursday.

According to a ministry release, Minister of Trade Paula Gopee-Scoon met with representatives from key organisations from Ghana geared towards accelerating trade and business opportunities between both countries.

The Ghanaian delegation was led by Reginald Yofi Grant, CEO, Ghana Investment Promotion Centre (GIPC) and Dr Afua Asabea Asare, CEO, Ghana Export Promotion Authority (GEPA).

Both parties expressed a commitment to accelerating the on-going negotiations for a Reciprocal Protection and Promotion of Investments Agreement (RIPPA), with the aim of reaching an agreement by the end of 2023, the release said.

Gopee-Scoon underscored the need for a memorandum of understanding on trade and investment between both countries, to help foster future relations and ensure that such discussions led to tangible results. In 2022, TT exported approximately $30 million to Ghana in both energy and non-energy products.

Gopee-Scoon also expressed keen interest in exporting the national instrument, the steel pan as well as niche products such as locally produced alcoholic and non-alcoholic beverages and chocolates.

The Ghanaian delegates underscored Ghana’s high demand for high-value products. Of particular interest were developing partnerships to build the Ghanaian textile and manufacturing industries, meeting the growing demand for food, and accessing the wider African market by capitalising on the African Continental Free Trade Area (AfCFTA).

Both countries agreed that there will be targeted trade and cultural missions to advance the growth and development of both countries, the release said.