Non-oil bilateral trade between Ghana and UAE hits $2.7 billion

Non-oil trade between Ghana and the United Arab Emirates (UAE) will reach $2.7 billion in 2022.

This is a 56% increase from the $1.512 billion reached in 2019.

Speaking at the UAE’s 51st National Day Celebration in Accra, Mr. Amer Al Alawi, the country’s ambassador to Ghana, said the achievement is a testament to how quickly the two countries have developed their bilateral relationship.

He said the UAE and Ghana signed five Memorandums of Understanding (MoUs) this year as part of deepening diplomatic ties and promoting economic progress and prosperity.

The two countries agreed to establish a Ghana Investment Promotion Center office in the UAE to promote and attract investment in Ghana.

They also agreed to establish the UAE-Ghana Business Council to enhance economic and technical cooperation.

Mr Allawi said the two countries would exchange information and technical equipment to improve investment opportunities.

Among other projects launched in Ghana as part of its 50th anniversary celebration, the Arab country has established a vocational training center to provide Ghanaian women with financial support the skills to become entrepreneurs.

Mr. William Owuraku-Aidoo, Undersecretary for Energy, commended the UAE for its remarkable development since 1971, as reflected in its growing relationship and shared goals with Ghana.

He commended the United Arab Emirates for building various sanitation facilities and rehabilitating trade fair venues in parts of the country.

“With Ghana becoming the host of the African Continental Free Trade Area (AfCFTA), more bilateral investment in trade and business is needed,” he said.