Take advantage of AfCFTA, Maltese businesses told

By Morkporkpor Anku/ Benjamin Adamafio Commey

Accra, Mar. 2, GNA – Mr Alan Kyerematen, the Minister of Trade and Industry, on Monday called on Maltese businesses to take advantage of the African Continental Free Trade Area (AfCFTA) to enter into the wider African market.

“We believe that AfCFTA provides opportunities for Malta to work with Ghana to do business with the rest of Africa,” he said.

Mr Kyerematen was speaking at the second Ghana-Malta Business Forum in Accra, where a 28-member business delegation from Malta is in Ghana to explore variety of business and investment opportunities in Ghana.

The Maltese business delegation include representatives from sectors such as the medical health/pharma, fire, and security, aviation, ICT, aquaculture, food and beverage, oil and gas, textiles, electronics/engineering, education, and training.

The Minister said Ghana had signed an Interim Economic Partnership Agreement with Europe, the new regime would determine the relationship between Europe and Ghana.

He said Ghana also agreed with the EU on the institutional framework for the implementation of that agreement.

He said the importance of Malta to Ghana would become more evident now that Ghana has to take advantage of the European market through Malta.

Mr Kyerematen said it was obvious that Malta as the best performing economy in Europe with its strategic location offered Ghana the best opportunity to use that country as a gateway to Europe.

On the other hand, he said, with the establishment of the AfCFTA, which brings over 50 countries into one market, there could not be a better time than now for Malta to use Ghana as its gateway into the African market.

“Africa is envisaged to be the economic frontier globally,” he added.

He said Ghana with its strategic location also offered some advantages to the Maltese businesses in the form of safety and security, and a judicial system that provide fairness.

Mr Yofi Grant, Chief Executive Officer, Ghana Investment Promotion Centre said Government and Malta had entered into an agreement, which would allow Air Malta to fly directly to Accra.

“We should expect the Air Malta in the next few months, probably in the second quarter,” he added.

He said the fact that Malta had opened its first Sub-Saharan Embassy in Accra also gave the indication that they were serious about doing business in Ghana and providing opportunities for their Ghanaian counterparts.

He said the Ghana Standards Authority (GSA) has signed a Memorandum of Understanding with the Maltese Medicines Authority to provide expertise on phyto-sanitary certifications required to export into the European Union.

He said there was also MoU with Akosombo Zone Fish Farmers Association in the area of aquaculture to enable the country build the aquaculture expertise.

Mr Silvio Schembri, the Minister for Economy, Investment and Small Businesses, said the Maltese government had launched the first strategy for growth and partnership with Africa.

Dubbed “Malta and Africa, A Strategy for Partnership 2020 – 2025,” the initiative focuses on trade, diplomacy and development.

He said the strategy concentrates on the exchange of wealth and creating opportunity in changing times between Malta and the African continent.

He said the Maltese government re-affirmed its commitment as a partner of choice for Africa for growth and development.

He called on businesses to consider Malta as their second home and endeavour to network and do business with their Maltese counterparts.

He said Malta could serve as a bridge for their Ghanaian counterpart to enter into the European market.

Meanwhile, five different MoUs were signed between various institutions.

They include, the Accra Technical University and the Maltese College of Arts, Science and Technology; Ghana Standards Authority (GSA) and Maltese Medicine Authority; the GSA and Aqua Biotic; Aqua Biotic and the Akosombo Zone Fish Farmers Association and Impact Hub and Malta Enterprise.

The MoU is for the establishment of partnerships between these institutions. 

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