Ghana will pursue trade relations with China - Kufuor

Accra, Oct. 9, GNA - President John Agyekum Kufuor on Tuesday declared that Ghana would pursue its trade relationships with China saying China was a huge opportunity and had a lot to offer in its relationship with Africa.

President Kufuor, who was answering a question on how Ghana was handling the growth and influence of China in Africa at the first-ever Economist Conference Roundtable to be held in Ghana, said Ghana would work hard to tap into China's expertise.

The Economist Conference is a day's event attended by local and foreign businesses, foreign missions, international and local banks and businesses that have an interest in entering the Ghanaian economy. It is under the theme: "Fifty Years of Independence Where To Go Now: Can Ghana Become West Africa's Next Business Gateway?" The Economist Conference provides an international forum bringing together key executives of international and local corporations with Presidents and their Ministers for off the record sessions. It also provides a platform for senior executives seeking new sights into strategic issues to meet and engage each other in meeting mutual goals.

President Kufuor said the growth of China and its influence had been of great concern to many including the United States and Europe. "We are very much aware of their concerns and would work with China to bring about the necessary change that our country needs. "Africa is ready to engage with partners on a win-win basis and this we would do with China. Africa is at a level that it can negotiate with others fairly without losing. We just have to be careful." He commended China's approach and pricing competitiveness, citing examples in infrastructure development especially in the road sector. "We all know that in international tendering process we have come to learn that China's pricing for same or similar jobs are more competitive and cheaper than those from Europe and America." Additionally, he said, Ghana would work closely with her partners and ensure that there was mutual benefit to all concerned. On the recent oil find in Ghana, President Kufuor said government had put in place a smart team of experts that would help them in developing a policy that would guide government in granting exploratory rights.

"We are learning from other friendly nations who have offered to help develop a policy that uses revenue from oil. We won't compromise on any agreement."