Text Only
Search

 
China, Ghana Boost Trade Agreements


19 June 2006
Dovi report - Download 224k - Download (Real) audio clip
Dovi report - Download 224k - Listen (Real) audio clip

Ghana's finance minister Baah-Wiredu (R) and his Chinese counterpart Jin Renqing, signing one of the bilateral agreements.
Ghana's finance minister Baah-Wiredu (R) and his Chinese counterpart Li-Zhao Xing, signing one of the bilateral agreements.

Chinese Premier Wen Jiabao, on a five-day tour of seven African countries, has witnessed the signing of seven new bilateral agreements on economic and technological cooperation between his country and Ghana, where he is making a two-day stopover.

It was one of the $66 million in new bilateral agreements with Ghana. The signings come as China continues to expand its trade interest in Africa.

The agreements signed in Accra cover economic and technological cooperation between the two countries, including a $30 million concessional loan to enhance Ghana's information communication technology.

Other agreements involved interest free loans to Ghana, donation of anti-malaria medicines, and a $28 million road project.

An additional $70 million commercial loan was advanced to Ghana Telecom for the expansion of the company's mobile network and fixed lines.

Ghana's Finance Minister, Kwadwo Baah-Wiredu, told journalists that China, India, and Iran have all expressed interest in buying cocoa directly from Ghana.

Baah-Wirdu says Ghana is carefully considering the proposals.

"Currently they have to go through the International Cocoa Organization and they believe it is too circuitous, so they prefer buying directly from Ghana," he said. "We have not concluded those arrangements yet because Ghana's interest must be taken into consideration, thus having a stable market for 20 years, 30 years, so that when you are exporting to that area, you know what you are doing."

China is one of Ghana's largest foreign investors. Recent figures from the Ghana Investment Promotion Center show China leading India and former colonial ruler Britain in investments in Ghana.

Mr. Wen's visit, which includes a high-powered government delegation, is the first in 42 years by a Chinese prime minister. Ghana says the visit is a show of confidence in its economy.

The Chinese prime minister is also visiting Congo, Angola, South Africa, Tanzania, and Uganda.

emailme.gif E-mail This Article
printerfriendly.gif Print Version

  Related Stories
Chinese Premier Offers $38 Million Loan Package to Ghana
China's Fixed-Asset Investment Booms
Chinese Premier Starts Africa Tour in Egypt
 
  Top Story
Obama: Iraq Election Law an "Important Milestone"  Audio Clip Available

  More Stories
Iraqi Parliament Approves New Electoral Law After Raucous Debate  Audio Clip Available
US Army Chief of Staff: More Troops Needed in Afghanistan
Market Bomber Kills 13 in Northwest Pakistan
Clinton Urges Europeans to Bring Down "Walls" of Terrorism, Oppression  Audio Clip Available
Berlin to Mark the 20th Anniversary of the Fall of the Berlin Wall  Audio Clip Available  Video clip available
Hurricane Ida Heads Toward Gulf of Mexico, Floods Kill 91 in El Salvador
Russia-Iran Relations Balancing on Nuclear Issue
Motive Sought for Texas Mass Shooting
Dalai Lama Rejects Chinese Criticism of Monastery Visit  Audio Clip Available
China's Premier Pledges $10 billion in Loans to Africa  Audio Clip Available
Netanyahu Heads to US Amid Crisis in Peace Process  Audio Clip Available
Japan Pledges More Aid to Burma if Political Prisoners are Released
WFP Making Inroads on Alleviating Hunger  Audio Clip Available
Deposed Madagascar President says He Will Work With Rival Who Ousted Him  Audio Clip Available
US Health Care Debate Continues on Partisan Lines