HC highlights vast potential for industrialisation in Ghana

KARACHI Ghana’s High Commissioner to Pakistan and Iran, Eric Owusu, highlighted the vast potential for industrialisation in Ghana during a recent address to the Korangi Association of Trade and Industry (KATI) in Karachi.

He emphasized that Pakistani investors and industrialists could tap into African markets with the assistance of Ghana. The government of Ghana is committed to providing favourable conditions for investment in the country’s textile sector.

KATI President Faraz-ur-Rehman, Deputy Patron-in-Chief Zubair Chhaya, Senior Vice President Nighat Awan, Honorary Consul General Ikhtiar Baig and other prominent industrialists were present at the event.

High Commissioner Eric Owusu announced that Ghana would offer various incentives, including tax benefits, to encourage the establishment of industries in the country. He highlighted the availability of skilled and cost-effective labour in Ghana, which would further facilitate business ventures. By setting up industries in Ghana, Pakistani industrialists can gain access to the massive African market comprising 1.4 billion people. Additionally, goods manufactured through industrialization in Ghana would enjoy duty-free exports worldwide.

In support of these initiatives, KATI President Faraz-ur-Rehman affirmed that KATI would play a significant role in assisting the business community to access African markets. He emphasized the importance of trade delegations and collaborations between Pakistan and Ghana to enhance bilateral trade.

Exploiting the favourable conditions provided by Ghana, Pakistani businesses can easily tap into African markets. President Faraz-ur-Rehman also suggested organizing a dedicated exhibition between the two countries to showcase their respective industries.

President KATI further proposed exploring currency swaps and local currency trade between Ghana and Pakistan, considering the development of both nations. He also called for the establishment of trade routes to facilitate barter trade between the two countries.

Ikhtiar Baig, President of Honorary Consular Corp Sindh and Honorary Consul General Yemen, urged Pakistani industrialists and investors to leverage Ghana’s African policy, which includes advantages such as affordable land for setting up industries and tax concessions. Baig emphasized the exceptional opportunity to establish a textile industry in Ghana.

Deputy Patron-in-Chief of KATI, Zubair Chhaya, highlighted the friendly relations between Ghana and Pakistan but expressed concern over the relatively low trade volume between the two nations. Chhaya stressed the need to increase bilateral trade.

During the ceremony, KATI President Faraz-ur-Rehman presented a shield to Ghana’s High Commissioner to Pakistan and Iran, Eric Owusu.

Copyright Business Recorder, 2023