The week-long trade mission is part of the 3rd Malta-Ghana Business Forum, which was held in Accra to boost trade and investment between the two countries.
It was organised by TradeMalta, a Maltese firm, and the Maltese Ministry for Foreign and European Affairs and Trade in collaboration with the Ghana Investment Promotion Centre and other partners.
The forum created a platform for business companies from both countries to engage face-to-face with officials in their respective sectors and sign memoranda of understanding.
Addressing the participants, a Deputy Minister of Trade and Industry, Michael Okyere Baafi, said Malta was one of Ghana’s strategic bilateral partners as the country was fast becoming a home to several Maltese businesses in West Africa.
However, he said the Ghana-Malta trade and investment were still below their potential with a cumulative trade volume of over $318 million and a balance of trade of $94.6 million in favour of Malta, recorded from 2010 to 2019.
He, therefore, urged prospective investors to consider strategic cooperation for opportunities available under the government’s flagship programmes, including One-District-One Factory.
Mr Baafi also highlighted Industries such as pharmaceuticals, automotive industry, manufacturing of machines and machinery components, textiles and garments, industrial chemicals, and industrial starch as potential areas for investment.
He said choosing Ghana as their number one investment destination in Africa was the best decision because of the country’s strong democratic credentials, which has made it a safe haven for investors.
“The government of Ghana will continue to work closely with the Republic of Malta through high-level political and business fora to promote trade and investment between our countries”, he said.
On her part, the Chairperson of Trade Malta, Elizabeth Sant, said Ghana had been central to Malta’s roadmap for Africa because of the country’s socioeconomic growth and political stability.
She said there were countless opportunities for collaboration and growth between Malta and Ghana which could be leveraged to form a powerful partnership to drive socio-economic growth for both countries.
“Together, we can fuel Ghana’s economic transformation and open new doors for Maltese businesses to invest in Ghana’s thriving ecosystem. The Maltese government is, indeed, standing as a catalyst of change by taking concrete steps to achieve this mutual elevation,” she said.
In that regard, Ms Sant said Malta was working with the Ghanaian government to stimulate investment, accelerate business opportunities, facilitate cross-border trade and align efforts with that of the government and the African Continental Free Trade Area.
