Minister of Trade and Industry, Senator Paula Gopee-Scoon, hosted a high-level meeting with representatives from key organisations from Ghana to explore new opportunities for bilateral trade and investment today.
The Ghanaian delegation was led by Mr. Reginald Yofi Grant, Chief Executive Officer (CEO), Ghana Investment Promotion Centre (GIPC) and Dr. Afua Asabea Asare, Chief Executive Officer, Ghana Export Promotion Authority (GEPA). Trinidad and Tobago’s delegation included senior officials of the Ministry of Trade and Industry as well as members of the Ministry’s Agencies and private sector organisations, including Mr. Roger Roach, President of the Trinidad and Tobago Manufacturers’ Association (TTMA) and Mr. Stephen De Gannes, CEO of the Trinidad and Tobago Chamber of Industry and Commerce.
The meeting built on exchanges made at the 21st Annual Trade and Investment Symposium, held on 31st July 2023, which focused on accelerating opportunities and improving trade, business, and investment linkages between Trinidad and Tobago, as well as CARICOM with the African continent.
During the meeting, Minister Gopee-Scoon acknowledged the many opportunities for trade and investment between Trinidad and Tobago and Ghana, and reiterated our commitment to strengthening economic ties with Ghana, and by extension Africa. The Minister also expressed keen interest in building on our trade complementarities with Ghana, as well as opportunities to export the national instrument, the steelpan, and niche products such as locally produced alcoholic and non-alcoholic beverages and chocolates.
The Ghanaian delegates underscored Ghana’s high demand for high-value products. Of particular interest were developing partnerships to build the Ghanaian textile and manufacturing industries, meeting the growing demand for food, and accessing the wider African market by capitalising on the African Continental Free Trade Area (AfCFTA).
Both countries agreed that there will be targeted trade and cultural missions to advance the growth and development of both countries. The possibility of a cultural contingent participating in the “Taste of Ghana” event in December 2023, a major Ghanaian cultural event that features the products, music, art, fashion and culture of Ghana and the diaspora was also considered. The TTMA, together with exporTT, also committed to work towards a trade and investment mission to the West African nation in early 2024.
Both parties expressed a commitment to accelerating the ongoing negotiations for a Reciprocal Protection and Promotion of Investments Agreement (RIPPA), with the aim of reaching an agreement by the end of 2023. To help foster future relations and ensure that such discussions led to tangible results, Minister Gopee-Scoon underscored the need for and her support of a Memorandum of Understanding on Trade and Investment between both countries.
Trinidad and Tobago and Ghana established formal diplomatic relations in 1967. In 2022, Trinidad and Tobago exported approximately TT$30 Million to Ghana in both energy and non-energy products.
Trinidad and Tobago and Ghana established formal diplomatic relations in 1967. In 2022, Trinidad and Tobago exported approximately TT$30 Million to Ghana in both energy and non-energy products.