Annoh-Dompreh Lauds China Over Improved Trade

Frank Annoh-Dompreh

Chairman of the Foreign Affairs Committee of Parliament, Frank Annoh-Dompreh, has lauded China for rapidly improving economic ties with Ghana.

He said China is now the largest trading partner of Ghana, with trade volume increasing from $5.6 billion in 2014 to $6.8 billion in 2017.

He said China, as a major player in world’s economy, has been providing Ghana with financial assistance since independence.

“China has, indeed, proven to Ghana that it’s not a nation that puts others down and pulls itself up but rather it’s a nation that wishes to go up on an equal tangent with every other nation, regardless of the strength of the nation it is helping,” he said.

The chairman of the Foreign Affairs, who is also the MP for Nsawam/Adoagyiri, made the commendation in a statement on the new era of Ghana-China bilateral relationship in Parliament last week.

He said currently China’s direct investment in Ghana as at 2017 was $123 million, including the $50 million fund for the construction of the James Town Fishing Port Complex in Accra which will soon take off.

He said China EXIM Bank also provided a grant of $622 million for the construction of the Bui Hydro-electric Dam in the Brong Ahafo Region with the country also receiving $127 million interest free loan for the construction of the Ofankor-Nsawam Road, as well as landing sites for fishing communities and the Afife rice project.

He said the icing on the cake has been the Sinohydro barter agreement with China, which President Akufo-Addo signed during his recent visit to China which promised to give Ghana $2 billion for various infrastructural projects in exchange for bauxite.

“Ghana has a long-standing relationship with China and I am convinced that this new agreement is just another giant step to transform, enhance and fast-track our country’s developmental agenda.”

 

By Thomas Fosu Jnr

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