Ghana has signed communiques to establish diplomatic relations with Madagascar and St. Lucia, along with a bilateral investment agreement with Trinidad and Tobago. The agreements aim to enhance intra-African trade and protect investments, with discussions on future Commonwealth engagements.
Ghana has formally established diplomatic relations with the nations of Madagascar and St. Lucia through the signing of two communiques, as well as a bilateral agreement aimed at promoting and protecting investment with Trinidad and Tobago. These events took place during brief ceremonies that occurred during the UN General Assembly on a recent Tuesday. The Ghanaian Foreign Minister, Honorable Shirley Botchwey, executed the communiques alongside her counterparts, Ms. Rasata Rafaravavitafika of Madagascar and Mr. Alva Baptiste of St. Lucia. Discussions between Ms. Rafaravavitafika and Ms. Botchwey highlighted the potential benefits of intra-African trade, indicating a commitment to strengthen economic ties within the continent. Notably, Ms. Rafaravavitafika announced that Madagascar intends to sign the African Free Trade Area (AfCFTA) agreement next month, emphasizing Madagascar’s movement towards enhanced trade agreements. Furthermore, Ghana’s engagement with Trinidad and Tobago resulted in the signing of the Agreement on Reciprocal Promotion and Protection of Investment (ARPPI) between Ms. Botchwey and Dr. Amery Browne, the Foreign Minister of Trinidad and Tobago. Dr. Browne expressed enthusiasm about the agreement, stating, “Indeed, it is a great day,” to which Ms. Botchwey concurred, highlighting the significance of this bilateral cooperation. The ARPPI is poised to enhance trade relations through mutual economic cooperation, ensuring protection for investors and deterring unlawful expropriations. Despite currently limited trade interactions between Ghana and Trinidad and Tobago, the presence of Republic Bank in Ghana signifies a growing commercial footprint for Caribbean enterprises. The two nations also discussed the upcoming Commonwealth Heads of Government Meeting (CHOGM), scheduled to take place in Samoa in four weeks. Notably, Ms. Botchwey is seen as a leading contender for the position of Secretary-General of the Commonwealth, succeeding Baroness Patricia Scotland of Dominica.
The establishment of diplomatic relations is a significant step for Ghana as it seeks to foster international partnerships and bolster its global presence. With the recent signing of agreements with Madagascar and St. Lucia, Ghana is actively engaging in promoting intra-African trade and strengthening ties within the Caribbean. The African Free Trade Area pact plays a pivotal role in this development, and Ghana’s early involvement as a signatory and host to the AfCFTA secretariat underlines its commitment to advancing trade opportunities across the continent. Additionally, the Agreement on Reciprocal Promotion and Protection of Investment (ARPPI) with Trinidad and Tobago indicates Ghana’s intention to enhance bilateral trade relations through improved investment safeguards.
In summary, Ghana’s recent diplomatic initiatives, marked by the establishment of ties with Madagascar and St. Lucia, as well as the investment agreement with Trinidad and Tobago, signify a proactive approach to enhancing its international relations. These efforts reflect Ghana’s commitment to driving economic growth through collaboration and trade within Africa and with Caribbean nations. The focus on intra-African trade, protection of investments, and participation in upcoming Commonwealth events showcases Ghana’s strategic positioning on the global stage and its potential to become a central player in international economic affairs.
Original Source: www.modernghana.com
