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With an accelerated growth of 9 per cent of Gross Domestic Product (GDP) in the second quarter of 2017, Ghana represents an attractive window of opportunity for Mexican companies seeking to broaden their horizons and consolidate their economic and comercial ties, especially with non-traditional markets.

Ghana is the second largest economy in West Africa, with a stable socio-political climate, a robust rule of law, an attractive business environment and a strategic geographical position.

According to the International Monetary Fund (IMF), Ghana is on track to be one of the three fastest growing economies in 2018.
To deepen trade ties, Ghana’s Minister of Trade and Industry, Mr Alan Kyerematen, visited Mexico last week.

The team was made up of officials from the Trade ministry, Ministry of Foreign Affairs and Regional Integration, the Ghana Investment Promotion Center (GIPC), as well as a group of businessmen with interests in sectors such as: construction, agro-industry, energy (oil and renewables), transportation and services, among others.

These actions seek to help both countries serve as a gateway to trade and investment between Africa and Latin America.

The Mexican Agency for International Development Cooperation (AMEXCID), the Mexican Embassy in Ghana, ProMéxico and the Mexican Business Council for Foreign Trade, Investment and Technology (COMCE), integrated a rich agenda that the Minister of Trade and Industry of Ghana, Mr Alan J. Kyerematen, took part in during the visit.

In the framework of the 15th edition of the Mexico Business Summit, held in San Luis Potosí from October 22 to 24, Minister Kyerematen spoke “Facing the urgent need to develop new business partners and the diversification of exports,” together with Mrs Yasushi Akahoshi, President of Japan External Trade Organization (JETRO) and Chun Beeho, Ambassador of the Republic of Korea.

During their stay in Mexico, the authorities and representatives of Ghana’s private sector participated in the ‘Mexico-Ghana Business Dialogue’ in which the Chairman of the Committee Mexico-Economic Community of West African States (ECOWAS) of COMCE, recognised this visit as an opportunity to boost bilateral economic exchanges.

Mr Kyerematen held meetings with members of the Mexican federal cabinet, including the Ministries of Economy and Energy, and with the Directors General of ProMéxico and Bancomext.
He also met with the deputy Minister of Foreign Affairs, Ambassador Carlos de Icaza, on behalf of Minister Luis Videgaray. With the above-mentioned officials, he shared the objectives and progress of Ghana's industrial development program and Ghana´s potential to become a strategic economic partner of Mexico.

These actions which seek to help both countries serve as a gateway to trade and investment between Africa and Latin America, taking advantage of the commercial instruments that each one maintains within its own regions and with third markets in North America and the European Union.

This is the first high-level visit that has taken place since Mexico reopened its Embassy in Ghana in 2014 and it is the result of joint actions carried out with a view of strengthening bilateral ties in economic, political and cooperation matters.
These types of activities are part of the diversification strategy of economic relations in Mexico, with special attention to a continent that is home to 7 of the 10 most dynamic economies in the world.