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Ghana, Egypt look for trade and investment relations
Published in Bikya Masr on 19 - 10 - 2010

CAIRO: In Egypt's continued push for a greater presence in Africa, Ghana and Egypt have begun to discuss ways of increasing trade and investment between the two countries. Economists in Egypt are optimistic that success in this area will improve the country's standing on the continent and help bolster economic progress.
“It is a smart move to look to African countries for increasing trade and investment,” said Ramy Hassan, a ministry of trade representative. He told Bikya Masr that Egypt “believes in being a part of Africa and what better way of showing this than by increasing direct relations with African governments?”
According to the ministry, the two countries plan to organize a joint commission of cooperation to set forth a plan to increase relations and sign agreements to that effect.
Hanna Tetteh, Ghana's Minister of Trade, reportedly told Mona Omar, Egypt's Assistant Foreign Minister that Ghana was prepared to take the necessary steps for an agreement to be signed.
She told reporters in Accra that Ghana has the “opportunity to make some real changes in the economy in terms of exporting some of her commodities to other countries. However, there is the need for some expertise in marketing in order to penetrate markets outside Africa.”
Ghana has potential in cotton and “would like to collaborate with some Egyptian technical agencies to help the local farmers to market the product,” the minister said.
Tetteh also hinted that the two countries could discuss “double taxation issues to make life easier for investors in both countries.”
Omar said in a statement that the volume of trade between the two countries “is low and there was the need for the two countries to look at ways to increase trade.”
She pointed out that there are options for the two countries to have joint venture in the industrial sector and expressed the hope that Ghana and Eqypt would have an enhanced trade and investment relations.

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