Trinidad and Tobago signs agreement with Ghana

Trinidad and Tobago has signed a Reciprocal Promotion and Protection of Investments (ARPPI) agreement with Ghana, to strengthen economic ties between the two nations.

The agreement was signed by Minister of Foreign Affairs Dr Amery Browne and Ghana's Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, during a ceremony on the sidelines of the UN General Assembly in New York on September 24.

According to a release on September 25, negotiations for this investment agreement began in April 2023, led by Trade Minister Paula Gopee-Scoon.

Gopee-Scoon also organised a trade mission to Ghana in March this year, involving over 20 private sector companies from various sectors, including food and beverage, chemicals, textiles, banking and ICT.

"Trinidad and Tobago and Ghana have a rich historical and cultural relationship that has grown significantly over the years. Ghana is a key trading partner for Trinidad and Tobago, serving as a gateway to West Africa, a region with a population of around 448 million.

"The Ghanaian market offers numerous opportunities for collaboration in areas such as manufacturing, maritime logistics, business process outsourcing, hotel and resort development and agro-processing," the release said.

The ARPPI aims to foster a conducive environment for investment and stimulate economic growth by providing a framework to support and safeguard new investments between the two countries.

It outlines expected investor behaviour and ensures the protection of the rights of investors and states alike, with key protections including fair and equitable treatment, safeguards against expropriation and established mechanisms for resolving investment disputes.

The releases concluded by saying the agreement reflects the shared commitment of Trinidad and Tobago and Ghana to harness the benefits of globalisation, promote sustainable development and enhance the welfare of their citizens through mutually beneficial co-operation.