Bilateral relations between Ghana and Japan has been further boosted with the inauguration of the Ghana-Japan Business Promotion Committee (GJBPC).
The Committee, among other responsibilities, will promote and support Japanese businesses in Ghana and Ghanaian businesses in Japan, facilitate trade and investment between the two nations and will serve as a vehicle to drive strategic economic partnership in both countries.
In 2018, Ghana’s trade with Japan was valued at 13, 703 million Yen (approximately US$128,797.82) with cocoa and marine products being the top export commodities to that country. Japan’s trade with Ghana in same year, stood at 16,734 million Yen (approximately US$156,376.48) with products such as automobiles, marine products and general machineries being top imports from that country.
Meanwhile, both countries have resolved to work to improve trade and investments to enhance their cooperation.
A first meeting co-chaired by Japan’s Ambassador to Ghana, H.E Himeno Tsutomu together with CEO of Ghana Investment Promotion Centre (GIPC), Mr. Yofi Grant, was attended by representatives of the Japan Embassy in Accra, Japan International Cooperation Agency (JICA), and Japan External Trade Organization (JETRO), the Ministry of Economy and Trade in Japan and members of the Japanese private sector.
From Ghana, institutions including the Trade Ministry, Ministry of Finance, the Foreign Affairs Ministry, the National Entrepreneurship and Innovation Programme and the GIPC, attended the meeting.
The inaugural meeting instructively, commenced discussions on how to improve the existing bilateral trade and enhance the business relationship between Ghana and Japan.
In that vein, a six-member committee made of Ghana’s Foreign Ministry, Ministry of Trade, Ministry of Finance, the Business Development Ministry, GIPC and the Embassy of Japan in Ghana will pursue the trade promotional agenda.
Mr. Grant explained that the major task of the committee on the Ghanaian front, is to aggressively pursue an agenda of bringing the necessary Japanese investments into Ghana without impediments or bureaucratic hindrances.
“The ministerial council is to develop a more proactive agenda of bringing Japanese capital into our market to develop our economy. It is to also leverage on Japan’s position as a technological giant to bring such expertise here” Mr Grant noted.
Meanwhile, Ambassador Himeno Tsutomu explained the challenges confronting their businesses in Ghana and encouraged Ghana to improve the business climate here.
The Ghanaian side however, responded to the appeal by illustrating policy initiatives to promote Japanese investment in Ghana and called for Japan’s partnership in Ghana’s industrialization agenda.
A major resolution at the meeting was the proposal to establish a Japan External Trade Organization (JETRO) in Accra in early 2020.