President Akufo-Addo in a handshake with Russia’s Vladimir Putin
President Nana Addo Dankwa Akufo-Addo has called for an increase in economic co-operation between Ghana and Russia, saying it is the right way to develop healthy relations between both countries.
Delivering a statement at the ongoing Russia-Africa Summit in Sochi, Russia, yesterday, the President stated that a new era of Ghana-Russia relations must be built to increase trade and investment co-operation, and not by the export and import of raw materials between both countries.
“Ghana wants its relations with the Russian Federation to be characterised by an increase in trade and investment co-operation and not by the export and import of raw materials,” he said.
According to the President, Ghana’s resolve is to build a value-added industrialised economy with modernised agriculture, trading in the global marketplace on the basis of things we make and grow and to chart a new self-reliant independent path within the world economic order, adding “we believe that effective co-operation with Russia will help us attain this goal.”
Peace in Africa
The Russia-Africa Summit is being held on the theme: “For Peace, Security and Development”.
President Akufo-Addo indicated that though there are still some important security challenges in Africa, the continent “is more at peace now than before.”
He noted that Russia, in the aftermath of the Cold War, had continued to increase its co-operation with Africa in several sectors such as health, energy, communications, mining and railway construction, expressing gratitude that Russia continues to work with Africa.
Growing Economy
The President stressed that with six of the world’s 10 fastest growing economies this year being in Africa including Ghana’s, according to the World Bank, the continent is well positioned for economic co-operation geared towards mutual benefit.
AfCFTA
Highlighting the importance of the African Continental Free Trade Area (AfCFTA), which will cover a market of 1.2 billion people, with a combined GDP of three trillion dollars across the 54-member states of the African Union, President Akufo-Addo added that with Ghana playing host to the secretariat, the AfCFTA holds excellent prospects for trade relations between the continent and Russia.
“We hope that this new era of Africa-Russia relations will reaffirm the principles of solidarity, mutual trust and respect, which have anchored those relations for several decades, and which will assist us deliver peace, security, development, progress and prosperity for our people,” the President stated.
By Nana Kwasi