Ghana has established diplomatic relations with Madagascar and Saint Lucia and signed an investment protection agreement with Trinidad and Tobago. Foreign Minister Shirley Botchwey emphasized the importance of intra-African trade and discussed Madagascar’s commitment to the AfCFTA. The agreements aim to boost trade and safeguard investors’ rights.
The Republic of Ghana has recently taken significant diplomatic steps by establishing formal relations with both Madagascar and Saint Lucia. These agreements were formalized through the signing of communiques by Ghana’s Foreign Minister, Shirley Botchwey, during brief ceremonies that occurred alongside the United Nations General Assembly on Tuesday. The counterparts signing on behalf of Madagascar and Saint Lucia were Ms. Rasata Rafaravavitafika and Mr. Alva Baptiste, respectively. In a notable discussion, Ms. Rafaravavitafika and Ms. Botchwey explored the potential and benefits associated with intra-African trade. Ms. Rafaravavitafika indicated that Madagascar is poised to endorse the African Continental Free Trade Area (AfCFTA) agreement next month, reinforcing Ghana’s role as an early signatory and host of the AFCTA’s secretariat, located in Accra. In addition, Ghana solidified its economic interaction with Trinidad and Tobago by signing an Agreement on the Reciprocal Promotion and Protection of Investment (ARPPI). Both ministers, Ms. Botchwey and Dr. Amery Browne of Trinidad and Tobago, expressed mutual delight at the formation of this agreement, which aims to enhance bilateral trade through reciprocal economic cooperation, safeguarding investor rights, and preventing unlawful expropriation. Despite currently limited trade, the presence of Republic Bank from Trinidad and Tobago within Ghana demonstrates the potential for future growth and collaboration. Moreover, discussions between Ms. Botchwey and Dr. Browne included upcoming events such as the Commonwealth Heads of Government Meeting (CHOGM) that is scheduled to take place in four weeks in Samoa. Ms. Botchwey is recognized as a leading candidate for the position of Secretary-General of the Commonwealth, succeeding Baroness Patricia Scotland of Dominica. Prior to these meetings, Ms. Botchwey also engaged in bilateral discussions with Lord Collins, the British Under-Secretary of State for the Foreign, Commonwealth, and Development Office, as well as Mr. Joseph Andall, the Foreign Minister of Grenada.
The establishment of diplomatic relations reflects Ghana’s commitment to expanding its international partnerships, particularly within Africa and the Caribbean. The AfCFTA aims to promote intra-African trade by reducing tariffs and encouraging economic cooperation among nations. Madagascar’s upcoming commitment to the AfCFTA is pivotal in integrating the region’s economies. Ghana’s role in hosting the AFCTA secretariat further emphasizes its strategic position in facilitating trade agreements across Africa. The ARPPI with Trinidad and Tobago is crucial for fostering an environment conducive to foreign investments.
Ghana’s recent diplomatic engagements signify a strategic expansion of its foreign relations, particularly with Madagascar and Saint Lucia, along with strengthening ties with Trinidad and Tobago through investment agreements. These developments are expected to enhance both political cooperation and economic growth, embodying Ghana’s proactive approach in fostering regional and international partnerships.
Original Source: www.modernghana.com
