Switzerland-Ghana Bilateral Trade Hits $3.5bn

From L: Anian Schreiber, Managing Director & Co-Founder of KOA; Daasebre Nana Gyenin Kantan IV,
Nifahene of Akim Achiase Traditional Council, K. T Hammond; and Dr. Simone Haeberli

 

Acting Switzerland Ambassador to Ghana, Dr. Simone Haeberli, has revealed that bilateral trade relations between Switzerland and Ghana last year hit Swiss Franc, 3.25 billion, which is close to $3.5 billion.

Dr. Haeberli who doubles as the Deputy Head of Mission & Head of Cooperation, Embassy of Switzerland in Ghana, further stated that these impressive figures come from only two commodities-gold and cocoa beans exported to Switzerland.

“So, the potential for a more diversified trade between the two countries is huge. But also dependent on reforms to modernize Ghana’s economy to facilitate trade, increase productivity, add value, and provide skilled people to the market. This is precisely what the Switzerland Economic Development Co-operation wants to achieve”, she said.

She made this known when she addressed dignitaries at the inauguration of Koa cocoa fruit factory a pioneering Swiss – Ghanaian company for processing cocoa pulp into food and drinks at Akim Achiase in the Eastern Region.

He acknowledged the warm trade and bilateral relations between Switzerland and Ghana and revealed that Ghana is Switzerland’s second-largest trading partner in sub-Saharan Africa.

Speaking on the economic importance of the newly established cocoa factory, Dr. Haeberli indicated that considering the number of Ghanaians depending on the cocoa sector for their livelihood, the Koa cocoa processing factory was established to add value and additional income to farmers through the processing of cocoa pulp into food and drinks using integrated modern technology to contribute to sustainable growth in rural Ghana.

“A considerable number of Ghanaian people largely depend on the cocoa sector for their livelihood. In these economically challenging times, the establishment of the factory is remarkable as it will add value to the cocoa farmer” she added.

Trade Minister, Kobina T. Hammond, on his part indicated that the establishment of the factory is timely as it comes when the practical implementation of the African Continental Free Trade Area (AfCFTA) Agreement in respect of commercially viable trading is gaining some traction.

Mr. Hammond commended the management of Koa Cocoa for their ability to generate 250 new jobs in rural Ghana with 10,000 smallholder cocoa farmers enabling them to reduce on-farm food waste in the cocoa value chain, generate additional income, and launch new unique ingredients into the food and beverage industry including the chocolate confectionery products, ice cream and drinks.

He also entreated KOA Cocoa to take pains and implement the Hazard Analysis Critical Control Point (HACCP) system to ensure that food safety and quality standards of its products are consistently guaranteed.

By Prince Fiifi Yorke

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