Malta anticipates improved trade ties with Ghana

by Business Zone

The Government of Malta has signed separate memoranda of understanding (MoUs) with key Ghanaian institutions to provide broader partnerships between the two countries.

In that vein, Malta is strongly expecting to take advantage of Ghana’s membership of the Africa Continental Free Trade Area Agreement, beginning from July this year, to begin and deepen trade ties with other countries in the subregion.

At the Second Ghana-Malta Business Forum in Accra, hosted by the Ghana Investment Promotion Centre, five agreements were signed by institutions in both countries. The agreements are also expected to enable Ghanaian businesses to gain access to the European market using Malta as the gateway.

The Ghana Standards Authority signed two agreements with Malta Medicines Authority and Aquabiotics, a Maltese firm that specialises in aquaculture production. Accra Technical University (ATU) signed with Malta College for Arts, Science, and Technology, while Impact Hub signed with Malta Enterprise.

Akosombo Zone Fish Farmers Association (AZOFFA) signed with Aquabiotics to help develop the countries fisheries sector.

Trade Minister, Alan Kyerematen addressing the gathering explained that both countries are on the right path to fostering a strong bilateral relationship considering the number of partnership agreements which has been signed within a short time.

“These relations have been strengthened by exchange of diplomatic visits at the very high level by the President of Malta in July 2017, and our President in March, 2019.

But beyond that, Malta has established its first diplomatic mission in sub-Saharan Africa in Ghana, while Ghana is also the first sub-Saharan country to establish a diplomatic mission in Malta,” the minister added.

Mr Kyerematen further indicated that the country’s collaboration with Malta was strategic and vital for the development of the private sector as Ghana sought to enter the European market under the Economic Partnership Agreement.

GIPC’s CEO, Mr Yofi Grant, expressed optimism towards the agreements and said Ghana would utilize the trade ties with Malta to also do business with other countries in the European Union.

The Minister of Economy, Investment and Small Businesses in Malta, Mr Silvio Schembri, said his country’s partnership with Ghana would create mutual benefits and deepen trade facilitation between both countries.

“We are facilitating opportunities for Ghana and Malta through our high commissions and other national partners,” he added.

Source: BusinessZone Online

Dignitaries at the signing ceremony

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