ACCRA, Ghana – Ghana and Switzerland have signed a memorandum of understanding (MoU) aimed at increasing cocoa production and adding value to raw cocoa beans.
The two countries have also agreed to increase their volume of trade in the areas of gold and cocoa from Ghana and chemicals, pharmaceuticals and other products from Switzerland.
Also, a new Swiss co-operation strategy for Ghana, which involves US$80 million to support the enhanced competitiveness of Ghanaian enterprises and the diversification of the economy, was signed by the leaders of the two countries.
The MoU was signed when the President of Switzerland, Ms Doris Leuthard, called on President Nana Addo Dankwa Akufo-Addo at the Flagstaff House in Accra Wednesday (PICTURE).
Later, the two leaders retired to a closed-door session where issues such as Ghana’s position as one of the Swiss Confederations State Secretariat for Economic Affairs (SECO) priority countries for economic development were discussed.
Trade partner
Ghana is currently Switzerland’s largest trading partner in sub-Saharan Africa. Last year, trade between the two countries amounted to over US$2 billion.
After signing the MoU, the two Presidents jointly addressed a press conference.
President Akufo-Addo said the government would pursue programmes aimed at adding value to the country’s cocoa beans.
“Ghana, under my Presidency, will no longer become mere producers and exporters of cocoa beans. We will process more and more of our cocoa here in our country. There can be no future prosperity for our people in the short, medium or long term if we continue to maintain economic structures that are dependent on the production and export of raw materials.
“We intend to add value to our raw material resources, industrialise and enhance agricultural productivity. This is the only way we can put Ghana at the high end of the value chain in the global market space and create jobs for the teeming masses of Ghanaians,” he said.
Victor Kwawukume
