Chamber of Commerce and Industry signs trade agreement with Brazilian Embassy

Economics Chamber Partnership
Economics Chamber Partnership

The Ghana National Chamber of Commerce and Industry (GNCCI), through the Brazilian Embassy has signed two Memorandum of Understanding (MoU) with the Sao Paulo Chamber of Commerce to promote commercial, technical, and economic cooperation between Ghana and Brazil.

The signing of the MoU is to formalise a process of co-operation and understanding between GNCCI and the Brazilian Embassy to facilitate a working relationship to help both the Chamber and the Embassy achieve common but independent goals.

A statement issued by the Chamber said the MoU was signed during a high-level meeting held between some Brazilian Government officials and Executives of the Chamber in Accra.

Mrs. Victoria M. E. Hajar, the 1st Vice- President of the Chamber signed for the GNCCI, while Madam Maria Elisa T. De Luna, the Brazilian Ambassador to Ghana, signed for the other party.

Ghana’s export to Brazil reached US$ 64.6 million in 2020, according to the International Trade Centre, while Brazil’s exports to Ghana totaled US$ 198.4 million for the same time.

Though Brazil has a positive trade balance, most of the economic potential that both countries can offer for mutual economic advantage remained untapped.

Per the agreement, GNCCI and the Brazilian Embassy have agreed to maintain close and regular contact in addition to exchanging information and publications regularly, providing relevant information and services as requested by either party.

The statement said they also agreed to offer mutual assistance in promoting the general understanding of the market and investment situation in their respective areas and to organise various activities with a view to promoting business opportunities in both countries.

“GNCCI and the Brazil Embassy agree to visit each other with the intention to enhance mutual co-operation, promote activities of both parties and address issues of mutual concern,” it said.

The statement said the Memorandum was valid for two years from the commencement of the Agreement.

Unless requested by either of the signing parties to terminate the Agreement three months prior to the expiry date, the Memorandum will be renewed automatically.

Mrs. Hajar said as the world attempted to rebuild following the COVID-19 pandemic, the GNCCI aimed to consistently identify new markets for Ghanaian businesses with fresh and unique opportunities.

The signing follows a three-day business-to-business event aimed at boosting trade connections between the two countries by forging new corporate partnerships and strengthening existing ones.



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