The German Ambassador to Ghana, Mr Eberhard Schanze, has passed a strong vote of confidence in the Ghanaian economy, describing it as a beacon of hope for Africa and urging German and European companies to invest in the economy now. Mr Schanze, who was speaking at the opening of the fourth German industrial trade fair, GEREU 2011, said Ghana had experienced a high growth this year that was rare in the world due to oil and gas, adding that in the next 20 years, the economy would absorb a lot of revenue from oil and gas which should be of interest to European investors. Organised by the Ghanaian-German Economic Association (GGEA) and the Delegation of German Industry and Commerce in Ghana (AHK), GEREU, which takes place from September 28 to October 1, 2011, will have companies exhibiting various industrial products in the areas of pharmaceuticals and chemicals; automobiles; information and communications technology (lCT); energy; construction, financial services and other services companies. The German Ambassador said Africa in general had growth at an average rate of six per cent with Ghana growing far above that rate, and in addition, had several potential, opportunities and the will for more growth and economic transformation, good reasons for European businesses to take advantage of. Mr Schanze, however, encouraged managers of the economy to increase value addition and retain much of the benefits on the value chain by processing its raw materials before exporting them, a situation which German companies, which boast superior and efficient technology, could harness. He also entreated the exhibitors to forge new partnerships and improve networking, adding that it was time the EU changed its perception about Ghana and Africa, as well as reassessed her risks about investment opportunities on the continent. The President of the GGEA, Mr Stephen Antwi, said GEREU would continue to be a platform for the display of high quality products and standards in industrial machinery and services necessary to support industries in West Africa. He said this year's event would highlight giants in renewable energy and strong representative in automotive, ICT and logistics industries. With a dedicated Pavilion for German Products named German Tech Pavilion, Mr Antwi said such an initiative would become the trend at GEREU going forward. The GGEA president also called on authorities to expend the necessary diplomatic capital to ensure the removal of all barriers within West Africa as a necessary step towards attracting investors into the region. The Delegate of ARK, Mr Patrick Martens, said the creation of the German Tech Pavilion was part of the dividends accruing from the setting up of the Delegation of German Industry and Commerce in Ghana, which chose Ghana for its good governance and transparency in an emerging economy.