The Ministry of
Trade and Industry has signed a Memorandum of Understanding (MoU) with its
counterpart in Belarus for the establishment of a US$10million tractor
manufacturing plant in the country.
Belarus controls an over-14% share in the
global manufacturing of tractors, and intends to take advantage of the ECOWAS
market by making Ghana the hub of tractor manufacturing in the sub-region.
Other areas of
cooperation agreed by the two countries include the development and promotion
of the Ghanaian-Belarusian manufacturing sectors, and the maintenance of
cooperation between industrial enterprises and research organisations of both
countries.
Speaking at a
brief signing ceremony in Accra, Minister for Trade and Industry Ekwow
Spio-Garbrah said the agreement will help promote trade and industrial
activities between the two countries.
“Ultimately,
there will be increase in industrial production and exports to rake in the
much-needed foreign exchange for growth and development of the Ghanaian
economy,” he stressed.
He said the
mutual cooperation between the two countries will also explore agro-processing
in the areas of value addition for fruit, vegetables and other agricultural
products in Ghana.
The two
countries further agreed to form a Council on Trade and Industry to discover
potential sectors for investment and mutual cooperation.
The Belarusian
delegation was led by Vyacheslav Beskosty, Ambassador Extraordinary and
Plenipotentiary of the Republic of Belarus in Ghana, and also included Mr. Ade
Coker, the Honorary Consul of Belarus to Ghana.
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