Trade mission excites World Trade Centre

The World Trade Centre, Accra, has said that its maiden trade and investment mission to Brazil was impressive, as participating delegates successfully sealed various joint venture partnership deals with their Brazilian counterparts.

The mission focused on business growth and visited Brazilian companies interested in exploring new business opportunities in Ghana and visiting the country to meet authorities for the execution of such businesses. 

It was targetted at consolidating bilateral relations between the two countries, and also attracting investment opportunities for the country’s development agenda.

Among other sectors of interest for investment were aviation, construction, energy, oil and gas, real-estate, textiles, and transportation among others. 

Togbe Afede XIV -- Chairman of World Trade Centre Accra and leader of the delegation -- expressing excitement after the mission’s return to Accra, saying: “It was a fulfilling and timely mission targetted at exploring business opportunities in Brazil”.

This, he said, afforded the delegates an opportunity to tell Ghanaian story very well.

He explained that the delegation visited the headquarters of Queiroz Galvao SA in Rio de Janeiro, the company responsible for the redesigning and construction of the Kwame Nkrumah Circle interchange and rehabilitation and extension of the Tamale Airport runway; and the Andrade Gutierrez Group, an investment holding company that is about to commence work on the eastern corridor roads with Odebrecht JV.

Brazil’s presence in the country is gradually increasing, as projects such as development of the Accra Airforce Base, Kwame Nkrumah Circle, Tamale Airport, and tranches five and six of the Eastern Corridor Project are well underway.

Others include the construction of a cashew nut processing plant in Prampram, rice production in Sogakope, and upcoming renovation of the Kumasi Central Market.

Ghana and Brazil have longstanding trade and bilateral relations. Available figures indicate that in 2012 trade between Ghana and Brazil stood at US$400million, and it’s growing at a faster rate. 

Currently, there are several Brazilian companies undertaking infrastructural development projects in the country. 

According to data available from the Ghana Investment Promotion Centre, Brazil was the biggest foreign direct investor in 2013 -- with its investment into the economy valued at US$200million.

Brazil as well provided a total of US$4.6million in concessionary loans in 2013 to boost the country’s economy, while US$350million is expected in 2014.

As part of the mission,World Trade Centre Sao Paolo hosted the Ghana-Brazil Summit in Sao Paolo, which was well-attended by captains of Brazilian Industries and some state agencies such as the EXIM Bank of Brazil and Export Promotion Agency of Brazil.

Members of the delegation included SAS Finance Group, Glory Oil, Ghana Airport Company Ltd, City Auctions Mart, Fugar & Co, Heward-Mills & Co, Med-Scientific, Nerjet Ghana Ltd, Pidoo’s Ventures, Philiyanco Ltd, Proko Gh Ltd, Weston Group of Companies, Royal Air Ghana Ltd, Silicon Valley Associates, Andrade Gutierrez and Queiroz Galvao.