Turkish Investors Take Interest In Ghana’s Economy

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In Ghana News Feed
Feb 5th, 2014
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Turkish Ambassador to Ghana, Dr. Senturk Uzan, has said that there is enormous investor interest in the country’s economy to bolster trade and sustain bilateral relations among the two countries.

“Turkey has huge success from businesses and want to replicate that in Ghana’s business environment to help boost trade and investment, and promote development,” he said.

The value of trade between Ghana and Turkey is expected to increase to about US$1billion by 2015 from the current trade portfolio of US$500million.

Turkey imports from Ghana, mainly gold and cocoa, are valued at US$115million annually, according to 2011 trade figures.

Turkish exports to Ghana last year recorded US$223.5million while it imported US$303.5million worth of goods from Ghana.

For the first six months of 2013, Turkey exported US$103.6million worth of goods to Ghana while it imported US$128.9million worth of goods from Ghana.

Dr. Uzanwho was speaking in Accra during a courtesy call on the Ghana Chamber of Commerce & Industry, and expressed the Turkish government’s commitment to encouraging businesses to invest in Ghana’s economy.

This is because Turkish investors see Ghana as a country with a lot of potential in the sub-region, and are ready to form joint ventures with other counterparts to promote businesses among the two countries.

“The entrepreneurs are ready to invest in areas such as agriculture and agro-processing, banking and finance, construction and real-estate development, tourism, telecommunications, information and communication technology, oil and gas extraction, mining and quarrying.”

He revealed that the Turkish government has made available a scholarship scheme for African students to attend and study various disciplines in Turkish universities to help to promote trade and boost investment among the two countries.

“The universities offer scholarships for African students, especially Ghanaian youth. This is to help deepen bilateral relations,” he said.

Seth Adjei Baah, President, Ghana Chamber of Commerce and Industry, pledged Ghana’s readiness to improve its exports to Turkey to boost trade.

He called for the implementation of practical measures that would stop the importation of items that can be produced in Ghana.

“It is sad to note that we import fruit juices when we have a lot of fruit in the country,” he stated. A country like Ghana, with over 50 percent of the population involved in farming, cannot produce enough to feed its citizens and has to import to supplement its food needs.

“In some countries, only about 5 percent of the population is involved in agriculture and yet they can produce for the population and even export,” he remarked. 

By Ekow Essabra-Mensah

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