Ghana’s Minister of Roads and Highways, Mr. Francis Asenso-Boakye, has said the bilateral trade volumes between Ghana and Switzerland increased from $1.5 billion in 2019 to over $3 billion in 2023.
Speaking at the ceremony to mark Swiss National Day in Accra, Mr Asenso-Boakye said that economic cooperation between Ghana and Switzerland also witnessed a significant increase over the past decades.
According to him, Switzerland is one of the few countries with a trade balance in favour of Ghana.
“Ghana, therefore, greatly values its economic relations with Switzerland. With the operationalisation of the African Continental Free Trade Area (AfCFTA), Ghana has become a more attractive destination for foreign direct investments.
“I, therefore, invite more Swiss companies to take advantage of the attractive investment packages to be derived from access to the region and partner Ghanaian businesses to strengthen the private sector and enhance its capacity to create more jobs for our youth,” local media reports on Thursday quoted the minister as saying.
Mr Asenso-Boakye said that Ghana greatly valued its economic relations with Switzerland, adding that due to the peaceful political climate, security, democratic credentials and favourable investment conditions, there are over 55 Swiss investments in Ghana.
“Ghana and Switzerland continue to collaborate actively in peace and human security cooperation, with Switzerland being one of the main sponsors of the Kofi Annan International Peacekeeping Training Center in Accra.
In her speech, the Ambassador of Switzerland to Ghana, Simone Giger, said that exports from Ghana to Switzerland amounted to $3 billion in 2023.
She added that Ghana retained its position as the second largest trading partner of Switzerland in sub-Saharan Africa, topped only by South Africa.
Ms Giger pointed out that under Switzerland’s new cooperation framework with Ghana for the years 2025 to 2028, they would collaborate with Ghana in a number of areas relevant for inclusive development.
“Working closely with the private sector, we aim to strengthen strategic value chains, invest in skills development, especially for young people, support an effective decentralisation, including bottom-up accountability measures and scale renewable energy solutions,” she added.