Ghana remains favourite destination for investment – Minister assures EU Envoy

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Ghana remains a favourite destination for investment in Africa, Madam Shirley Ayorkor Botchwey, Minister of Foreign Affairs and Regional Integration, has assured Mr Irchad Razaaly, Ambassador-Designate of the European Union (EU) to Ghana.

In this regard, the Minister highlighted the political stability, open democratic values, free media and vibrant civil society which Ghana enjoys.

Madam Ayorkor Botchwey stated this when she received the Open Letters of the EU Ambassador-Designate in Accra.

She acknowledged the long-standing cooperation between Ghana and the EU which dated back to 1975 with the signing of the first financial protocol, the Lome 1 Convention, between the EU and the African, Caribbean and Pacific (ACP) Member States.

The Minister alluded to the fact that the EU was Ghana’s largest multinational development trade partner.

She reiterated Ghana’s ready business climate, indicating that Ghana remained an important Foreign Direct Investment (FDI) destination on the African continent as in 2017,it ranked 7 out 54 countries

Madam Ayorkor Botchwey informed that with the coming into force of the African Continental Free Trade Area (AfCFTA), with its Secretariat in Accra, Ghana and Africa with its huge market potential, presents an opportunity for increased trade and Ghana was well positioned to receive investors from the EU who wish to take advantage of the opportunities provided by the Free Trade Area.

Concerning anti-money laundering and combating the financing of terrorism, Madam Ayorkor Botchwey noted that Ghana was delisted from the Financial Action Task Force’s grey list, highlighting Ghana’s commitment to combatting the financing of terrorism in line with international requirements.

She affirmed that the Ministry’s doors were open for continuous cooperation with the Ambassador-Designate and further wished him a successful tour of duty.

On his part, Mr Razaaly called for the deepening of the already good relationship between the EU and Ghana.

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