Ghana appeals for more Korea industrial investment

GHANA has appealed for an increased presence of South Korean manufacturing industries in the country as part of efforts to boost the economic cooperation between the two countries.

Additionally, Ghana has agreed to invite the business community in South Korea to actively invest here on a win-win basis as a means of taking advantage of the African Continental Free Trade Area (AfCFTA) market.

The Minister of Foreign Affairs and Regional Integration, Ms Shirley Ayorkor Botchwey who disclosed this, said private investment capital has a legitimate role to play in the overall economic development of the country.

In view of this, she told journalists on Saturday after a meeting with the Korean Foreign Affairs Minister, Ms Kang Kyung-Wha and her delegation that the two countries had committed themselves to drive the agenda.

The meeting was part of Ms Kyung-Wha’s two-day visit to Ghana and her three-nation visit to Africa, particularly Ghana, South Africa and Ethiopia to boost bilateral relations with the continent.

Ms Botchwey recalled that the growth of the Ghana-Korea relations since it started in 1977 and the role played by the visit of Korean Foreign Affairs Minister and later UN Secretary General, Mr Ban Ki-Moon in January 2006.

Since the visit, she said cooperation between the two countries “grew stronger, cutting across political, economic, scientific, technical, educational and cultural spheres”.

This, she said had been defined by  common values of democracy, respect for human rights and freedoms, good governance , rule of law, pursuit of  liberal market economy  and the promotion of international peace.

Ms Botchwey acknowledged the contribution of Korea to the socio-economic development of Ghana, in the areas of human resource capacity building and funding of projects in energy, water and sanitation and health.

She thanked Korea for the support saying, the visit had enhanced the diplomatic relations, heralding a new era of engagement between the two countries.

According to Ms Botchwey, they also discussed Ghana’s hosting of the AfCFTA secretariats, Ghana Beyond Aid agenda, Ghana’s 10- point industrial Transformation Agenda and highlighted possible areas for future cooperation.

The need for an interactive approach through partnership at both regional and global levels to find lasting solutions, current global security threat was also discussed at the meeting.

On her part, Ms Kyung-Wha who described Ghana as, “a great country of vibrant democracy and fast growing economy” said her country was willing to encourage more Korean companies to invest in Ghana for mutual benefit.

She commended the Ghana Beyond Aid agenda and expressed Korea’s readiness to share with Ghana her development experience and lessons learned in various fields when it pursued a similar path, years ago.

She re-affirmed Korea’s commitment to deepen the relation between the two countries.


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