Ghana and the Philippines have agreed to strengthen bilateral cooperation in trade and investment, with both countries exploring new opportunities to expand business relations. The agreement was reached during a meeting between Ghana’s Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, and the Philippines’ Secretary of Foreign Affairs, Ma. Theresa P. Lazaro, on the sidelines of the 81st United Nations General Assembly in New York. This meeting marks a significant step in the longstanding bilateral relationship between the two countries.
The two sides agreed to organise business fora in Ghana and the Philippines to connect businesses and promote investment opportunities between the two countries. They also discussed plans to establish a Ghana-Philippines Chamber of Commerce to provide a platform for sustained private-sector engagement. This initiative is expected to provide new avenues for commercial partnerships while strengthening institutional and people-to-people ties between Ghana and the Philippines.
Minister Ablakwa welcomed the Philippines’ decision to establish an embassy in Ghana later this year, describing the move as an important development in the longstanding bilateral relationship between the two countries. The establishment of the embassy is expected to enhance diplomatic relations and facilitate trade and investment between the two nations.
The discussions also covered cooperation on labour mobility, with Ghana and the Philippines agreeing to exchange ideas and expertise on labour mobility agreements. This cooperation is expected to promote the rights and welfare of workers and facilitate the movement of skilled workers between the two countries.
The proposed initiatives are expected to provide new avenues for commercial partnerships while strengthening institutional and people-to-people ties between Ghana and the Philippines. The meeting underscores renewed efforts by both countries to broaden their bilateral relationship beyond diplomatic engagement to include trade, investment, business cooperation, and labour mobility.
The agreement between Ghana and the Philippines is a significant step towards promoting economic cooperation and development between the two countries. The business fora and the proposed Ghana-Philippines Chamber of Commerce are expected to play a crucial role in promoting investment opportunities and facilitating trade between the two nations.
The meeting between Minister Ablakwa and Secretary Lazaro highlights the commitment of both countries to strengthening their bilateral relationship. The agreement is expected to have a positive impact on the economies of both countries and promote cooperation in various sectors.
Key points
- - Ghana and Philippines agree to strengthen bilateral cooperation in trade, investment, and labour mobility - The two countries plan to organise business fora and establish a Ghana-Philippines Chamber of Commerce - The Philippines will establish an embassy in Ghana later this year
