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The United States of America (USA) is committing more than $ 5.4 billion through their agencies to develop their trade relations with four African countries: Ghana, the United States, and the United States. Ethiopia, Kenya and Cote d'Ivoire. Wilbur Ross, who announced it Thursday in Accra, said that Africa is very important to the global economy and that the United States is taking a comprehensive government approach to deepen its trade commitments with the United States. continent to create new long-term commercial and economic routes. partnerships.
As part of his four-day visit to Ghana, Mr. Ross said, "This agreement demonstrates our commitment to sustainable and high-quality infrastructure for the benefit of millions of people. Africans and create good jobs in Africa and the United States. "
The forum was on the theme:" Strengthening Trade Partnerships between the United States and Ghana. "
See also: Ghana, USA
United States Delegation
Members of the American delegation, led by Mr. Ross, included leaders of more than 20 major US corporations and leaders of virtually all the government agencies involved in Africa, including the Department of Commerce, the State Department, Treasury Department, National Security Council officials, USAID, the US Agency for Trade and Development and the US Africa Development Fo undation.
These agencies, said Mr. Ross, He stated that the partnership on trade and investment was an indication of how the United States was moving from a relationship based on the US. badisting African countries with long-term business partnerships.
"Trade and not aid should be our collective mantra, which is already happening in Ghana with the Ghana Beyond Aid campaign and you will inevitably attract foreign direct investment." he added:
The table shows that trade between the United States and Africa has declined in recent times.Ross said: "US exports to Africa in 2017 n & rsquo; Were only $ 22 billion, less than half of what they were in 2014. "
" US imports from Africa also fell sharply One year ago, on corruption, the US Secretary of Commerce urged African countries to be extremely comfortable with US companies because US companies operating in Africa were forced to comply with the rules. Foreign Corrupt Practices Act of the United States, which prohibited American companies from bribing foreign officials or engaging in other corrupt practices to win contracts.
He was pleased that Ghana He added that the appointment of the special prosecutor of the opposition center was proof of the government's determination to clean up the situation.
He points out that the office should receive more financial support
Fiscal Discipline
The Vice President, Dr. Mahamudu Bawumia, who was the guest of & # 39; Honor, gave an badurance. that the government put measures in place to ensure that the macroeconomic gains that the country had achieved so far are not reversed.
"I understand that the investment community is worried about fiscal discipline after the IMF's conclusion of the Ghana program, but we are determined to maintain fiscal discipline for our own good," he said.
Mr. Bawumia also described some of the structural measures implemented to address some of the long-term structural issues, such as a new budget accountability law that would cap the budget deficit at 5%. maximum for one year, 2019, with the limits of the debt-to-GDP ratio
"Under the new law, we will set up an independent fiscal council to oversee the implementation of fiscal policy and operationalize a Unique treasure to consolidate The vice president also said the government would also adopt the competitive bidding process to eliminate the e waste and also prevent corruption.
"As we lay a solid macroeconomic foundation, for business and private sector development, we have not lost sight of the key strategic elements that offer the greatest potential for anchoring the investments we make. wish, "he added.
History [19659003] Almost three decades ago in 1989, the Association of American Business was founded in Ghana. This was followed nearly a decade later in 1997 with the formal establishment of the American Chamber of Commerce, Ghana. Ghana has benefited from the chamber's activities in expanding the export market for Ghanaian products to the United States. He has also helped government agencies commercialize Ghana's investment potential.
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