The Ghana Investment Promotion Centre (GIPC) and Qingdao Bureau of Commerce, the investment promotion centre of Qingdao Municipal Government, have signed a Memorandum of Understanding (MoU) to deepen trade and investment exchanges between the two agencies.

Both organisations will foster strategic partnerships with the aim to develop mutual cooperation between the two agencies and offer a platform for businesses of Ghana and China.

The MoU was signed by Mrs Mawuena Trebarh, the Chief Executive of GIPC and Mr Chunyu Xianli, the Deputy General of the Qingdao Bureau of Commerce of Qingdao Municipal Government of the Peoples Republic of China.

The deal was sealed during the visit of a Chinese business delegation from the Qingdao Municipal Government, led by the Deputy Mayor of the Qingdao Municipality Mr Wang Wei, to explore business opportunities in Ghana in the areas of construction, trade and real estate development.

The visit was facilitated by Qingjian International Development Company Limited. Mrs Trebarh said the MoU was an exciting partnership that would enable the two agencies to encourage investment promotion opportunities for the mutual benefit of both countries.

She said the goal of GIPC is to encourage businesses and ensure that their investments translate into profit and into development of the country. Mr Wang lauded the healthy trade and economic relationship between Ghana and China.

China has registered 673 projects in Ghana between September 1994 and December 2013 and its contribution to Foreign Direct Investment is valued at 7.8 million.