In a landmark move to boost trade and industrial development, China has announced a 0% tariff on all exports from Ghana. The news comes after Ghana’s Foreign Affairs Minister, Okuzeto Ablakwa, held talks with his Chinese counterpart, Wang Yi, on the sidelines of the China-Africa Summit in Changsha.
Sharing the update on Facebook, Minister Ablakwa described the discussions as “productive and impactful,” highlighting the transformative potential of this new trade arrangement. China, Ghana’s largest trading partner, recorded a trade volume exceeding $11 billion last year.
“This 0% tariff on 100% of goods from Ghana will bolster trade, create jobs, and produce more Ghanaian entrepreneurs,” the minister stated, underscoring the agreement’s potential to uplift Ghana’s economy.
The bilateral talks also explored opportunities to expand Ghana’s industrial base. Key projects discussed include the exploitation of Ghana’s bauxite reserves to establish an integrated aluminum industry supported by modern rail infrastructure and the creation of an electric vehicle manufacturing plant anchored on Ghana’s lithium deposits.
These initiatives align with President Mahama’s vision for industrialization and economic transformation. According to Ablakwa, a special Economic Partnership Agreement between Ghana and China will soon be signed to solidify these collaborative efforts.
The Foreign Affairs Minister praised the historic ties between the two nations, invoking the legacy of Ghana’s first president, Kwame Nkrumah, and China’s Chairman Mao Zedong. “Kwame Nkrumah and Chairman Mao would be proud of what Ghana-China relations have achieved 65 years after they laid the foundation,” he said.
As Ghana navigates its path toward economic transformation, this agreement marks a significant step, promising a brighter future for trade, job creation, and industrial growth in the country.
