The Minister of Finance Dr Cassiel Ato Forson, has highlighted the broader contribution of Chinese support and investment to Ghana’s economy.
He reaffirms that Ghana deeply values its longstanding relationship with China, which dates back to the era of President Kwame Nkrumah and Chairman Mao.
Dr. Forson underscored the need to deepen economic cooperation by reducing exchange losses associated with bilateral trade. He indicated Ghana’s interest in exploring trade settlements in the Ghanaian cedi and the Chinese currency (RMB), noting that reliance on third-party currencies is inefficient when trade is conducted directly between Ghana and China.
“It is only logical that trade between Ghana and China should increasingly be settled in our own currencies,” he said when he received the outgoing Chinese Ambassador to Ghana, H.E Tong Defa on Tuesday, January 20.
The visit was also an important moment in our bilateral cooperation, as Ghana and China signed a US$30 million grant agreement to support the construction of a university in Damongo in the Savanna Region.
The Finance Minister assured the outgoing Ambassador that these discussions would be pursued at the policy level, including engagement with the Bank of Ghana.
Ambassador Tong expressed gratitude to the Finance Minister for the cooperation and support during his tour of duty and congratulated Dr. Forson on Ghana’s improving economic performance.
He stated his pride in the state of Ghana–China relations and noted his encouragement by the tangible outcomes achieved within a short period, particularly in the area of development cooperation.
