Ghana and Kyrgyzstan are exploring opportunities for cooperation in gold mining, trading, technical expertise, and investment. The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, held discussions with a high-level delegation from the Kyrgyz Republic on October 1. The delegation, led by Kyrgyzstan's Foreign Affairs Minister, Jeenbek Kulubayev, also included Ghana's Foreign Affairs Minister, Samuel Okudzeto Ablakwa. The engagement focused on Ghana's progress in formalizing the gold trading sector.
The meeting covered Ghana's experience in formalizing and regulating the gold trade, with the Kyrgyz delegation expressing interest in learning from Ghana's expertise. Mr. Gyamfi briefed the delegation on the Gold Board's mandate and reforms aimed at strengthening the sector. These reforms include efforts to curb gold smuggling and leakages, increase purchases from the artisanal and small-scale mining sector, and promote local refining and value addition.
The reforms are aimed at strengthening the formal gold trading system while ensuring that a greater proportion of the value generated from Ghana's gold resources is retained within the country. The engagement is expected to provide an opportunity for both countries to exchange knowledge and expertise in gold mining and trading, while exploring avenues for investment and value addition.
The Kyrgyz delegation discussed potential areas of technical and investment cooperation with Ghana. The two countries are exploring opportunities for deeper bilateral cooperation in the gold sector. Mr. Ablakwa called for the development of a formal framework agreement to facilitate technical exchanges and provide a structured basis for cooperation.
The proposed framework agreement would support continued collaboration in the gold sector, including technical expertise, investment, and knowledge-sharing. This would enable both countries to benefit from each other's experiences and expertise in gold mining and trading.
Ghana's experience in formalizing the gold trade could be beneficial to Kyrgyzstan, which is looking to develop its own gold industry. The cooperation between the two countries could lead to increased investment and economic growth in the gold sector.
The discussions between Ghana and Kyrgyzstan mark a significant step towards strengthening bilateral cooperation in the gold sector. The two countries are expected to continue their engagement, with a focus on developing a formal framework agreement to facilitate cooperation.
Key points
- Ghana and Kyrgyzstan discuss cooperation in gold mining and trading.
- The two countries explore opportunities for technical expertise and investment.
- A formal framework agreement is proposed to facilitate cooperation.
