The Ghanaian-German Economic Association (GGEA) has upgraded its long standing memorandum of understanding (MoU) with its German partner, Afrika Verein.

In order to enhance the mutual business relations between Ghana and Germany, the two entities have committed to amongst other things work to establish direct contact between interested enterprises in both countries, identify appropriate partnerships to increase exports between both countries, to co-operate with the objective of fostering bilateral trade and investment to improve the economic relationship between Ghana and Germany. 

The collaboration is also designed to offer an exchange know-how and expertise in structural and organisational issues that will equip the entities make contributions to enhance the development of meaningful partnerships.

Stephen Antwi, the President of GGEA, emphasised the importance of this collaboration to promote trade and investment between Germany and Ghana through enhancing partnerships.

He expressed his optimism regarding this partnership by underscoring its potential to furnish Ghanaian businesses and SMEs with essential industry exposure to effectively contribute to their business growth and the overall expansion of the Ghanaian economy.

The President further pointed out the timely nature of this collaboration as it comes on the heels of the visit of the German Chancellor, Olaf Scholz, to Ghana which amongst other things is aimed at reinforcing bilateral trade between Ghana and Germany.

He foresees that the MoU would not only broaden the frontiers of partnerships but also facilitate trade and planned expansion, thereby creating more job to contribute to curb unemployment within the country.

The signing of the MOU between the two entities is poised to make a significant contribution to the realization of Ghana’s socio-economic development agenda and efforts to promote bilateral trade and foreign direct investments.