Ghana’s bilateral trade with Canada is hugely disproportional in favour of Canada. DIRECT FOREIGN INVESTMENT by Canadian businesses is mainly in the area of mining natural resources. The priority of the Ghana Mission is to concentrate on how to attract foreign direct investments into non-mining areas of Ghana’s economy, except bauxite and hydro-carbon.
- Building a new partnership with Canada through support for financial mechanisms that will allow Ghanaian and Canadian partners to access direct support and guarantees for increased trade. Ghana’s Ministry of Business Development has been engaging the Development International Desjardins (DID) (A subsidiary of Desjardins Group), for the establishment of a micro-finance institution.
- Concluding and signing the Foreign Investment Promotion and Protection Agreement (FIPA) between Ghana and Canada. This will lead to further assurance of the protection of Canadian investments in Ghana and thereby enable the expansion of trade and investments in Ghana
- Working closely with Canada’s Trade Facilitation Office – an initiative that builds capacities of SMEs in Ghana and elsewhere to access the Canadian market
- Promoting strong linkages between Ghanaian and Canadian Chambers of Commerce. (N.B. Ghanaian-Canadian Chamber of Commerce was launched July 2017 in Toronto)
- Supporting Ghanaian-Canadian entrepreneurs, especially those permanently resident in Canada, to import more processed goods from Ghana; while exporting more Canadian technologies to establish manufacturing entities in Ghana.