Ghana and the State of Houston, USA, have vowed to deepen existing economic cooperation to boost trade and investment for mutual benefits.
The Mayor of Houston, Sylvester Turner, and the Minister of Trade and Industry, Kobina Tahir Hammond, made the commitment in Accra when the former paid a courtesy call on the Minister.
The renewed cooperation comes on the back of the US$293 million trade volume between Ghana and Houston State in 2022.
The two indicated their readiness to explore opportunities in energy transition, oil and gas, international trade and commerce, port and aviation, healthcare, technology transfer, agriculture and services.
“A number of synergies exist between Ghana and the city of Houston. We’re here to build on the existing relationship and come up with some specific action items that people can achieve success from this mutual relationship,” Mr Turner said.
He said a working group would be established between Houston State and Ghana to ensure that the opportunities were mutually exploited.
“Houston is number two in the United States in solar production. So, we’ve been talking about how we can work on energy, including renewables, as well as other areas like healthcare and innovation for our mutual benefit,” the Mayor said.
The Minister of Trade and Industry, Mr Hammond said the collaboration would enable Ghana to benefit from Houston’s advancements in various industries to accelerate the country’s progress and economic diversification.
“By building stronger ties, we open up opportunities for Ghanaian entrepreneurs and businesses to attract Foreign Direct Investment (FDI), establish joint ventures, and participate in mutually beneficial trade ventures,” he said.
The Minister said Houston being a major economic hub, presented opportunities to exporters to access a vast network of businesses and the global market, which the Ministry would support Ghanaians to tap into.
He called for the establishment of a direct flight between Ghana, Nigeria and Houston.
The Minister explained that Ghana serving as the host of the Secretariat of the African Continental Free Trade Area (AfCFTA), made it an ideal entry point for countries across the world, including the city of Houston to the African market.
Mr Hammond said Ghana offered an attractive investment landscape to the global community, and encouraged Houstonian businesses to invest in the country to stimulate economic growth in both regions. He pledged Ghana’s commitment to developing its trade relations with the United States through the connection of the private sector with a focus on the involvement of more women in all economic endeavours.
