President of the Traders Advocacy Group Ghana (TAGG), Mr. David Kwadwo Amoateng, has welcomed the announcement of a Ghana-China zero tariff agreement, describing it as “good news” that could boost bilateral trade between the two nations.
Speaking in an interview on NEAT FM, Mr. Amoateng praised President John Dramani Mahama for securing consensus on the deal during the Presidential Investment Forum held in Beijing on Wednesday. The agreement, expected to be signed by the end of October, seeks to eliminate tariffs on selected Ghanaian exports to China, deepening trade cooperation between the two countries.
Trade between Ghana and China saw a significant surge in 2024, with China’s exports to Ghana rising by 46%, while Ghana’s exports to China grew by 11%, according to official data. President Mahama described China’s decision to grant zero-tariff access to Ghanaian and African goods as a sign of “deepening trust and cooperation.”
However, Mr. Amoateng cautioned that Ghana must ensure mutual benefits under the agreement, stressing the need for strong guarantees from China to prevent exploitation.
“If the president is committed to signing this agreement, he should ensure that the Chinese people are also committed,” he said. “Because of their numbers, they stand to gain more than us, and we lose the little we are to gain if we are not careful. We have to be cautious in trusting the Chinese.”
He further expressed disappointment that representatives from the business community were not included in the president’s delegation to China.
“What we do for the left hand, let’s do the same for the right. Whenever the president is attending programmes relating to trade, he should go with businessmen,” Mr. Amoateng advised.
The TAGG president also raised concerns about Ghana’s limited production capacity, warning that the country may not be able to meet China’s large-scale demand for agricultural products.
“We met with Shandong businessmen, and what they need, Ghana can’t meet it. China needs about three to five thousand containers of pork meat every day. They also need large quantities of hibiscus flower, starch, shea butter, and cashew and we can’t meet it,” he revealed.
Mr. Amoateng urged the government to invest heavily in agriculture to boost exports and create sustainable revenue streams for the nation.
“I always say that the president and leaders of the country should make a conscious effort to invest at least 50 million dollars into five or ten farmers to move into pig farming, rice production, and cashew production,” he said.
The zero-tariff deal, when finalized, is expected to open up significant export opportunities for Ghanaian businesses in China’s vast market, particularly in the agricultural and manufacturing sectors.
Read Also: IFEST Endorses Government’s Plan to Upgrade Category B SHSs
Source: Deborah Obenewaa Kwapong/ATLFMNEWS
