Ghana and Austria have renewed their commitment to deepen economic collaboration and bolster trade and investment ties at all levels.
The two countries, led by Ghana’s Foreign Minister, Madam Shirley Ayorkor Botchwey, and Mr Jackson Alexander Schallenberg, Austria’s Federal Minister for European and International Affairs, pledged to explore the many untapped business and economic opportunities in the two countries.
The Austrian Federal Minister for European and International Affairs is in Ghana to officially open the Embassy of the Republic of Austria in Accra and to deepen the long-standing relationship between Ghana and Austria.
Among others, the Austrian delegation, which includes business leaders, would participate in a Business Breakfast meeting at the Movenpick Hotel, with discussions centered on enhancing commercial ties.
Speaking at a joint press briefing at the Ministry of Foreign Affairs and Regional Integration ahead of the opening, Madam Ayorkor Botchwey, urged Austrian businesses to seize opportunities in Ghana, highlighting the country’s access to the African Continental Free Trade Area (AfCFTA) and its vast market of 1.3 billion people.
The Foreign Affairs Minister said despite decades of diplomatic cooperation, trade and investment between the two nations remained low and economic growth had not kept pace with the long-standing ties.
She, therefore, called for greater effort to foster partnerships that would drive development,
encouraging Austrian companies to explore new ventures in Ghana as the country was positioned as a gateway to Africa’s growing markets under the AfCFTA framework.
Madam Ayorkor Botchwey assured the delegation that “doing business in Ghana means having access to the world’s largest free trade area with 54 countries, 1.3 billion people and a combined GDP of 3.4 trillion United States Dollars.”
The visit, she said, highlighted the unwavering commitment to bilateral cooperation and the shared determination by both countries to address global concerns.
Two Memoranda of Understanding (MoUs) between the Government of the Republic of Austria and the Government of the Republic of Ghana on Cooperation in the Field of Development, Mobility and Migration; and Reciprocal Access to the Labour Market for Dependents of Members of Diplomatic Missions and Career Consular Posts, were signed.
Further agreements were set to be signed during the
Business Forum, including a health cooperation MoU between Ghana’s Ministry of Health, the University of Ghana, Austria’s University of Innsbruck, and MED-EL GmbH.
Another agreement between the University of Ghana and Austria’s University of Natural Resources and Life Sciences (BOKU) aimed to boost academic and research collaboration, will also be signed as part of the visit.
Mr Schallenberg, who described the partnership between Ghana and Austria as mutually beneficial, said the future prosperity of the two countries would depend on a stronger partnership.
He said the partnership between the two countries was a sign of commitment and mutual trust of believing the potential of the opportunities this partnership and friendship could hold, stressing that “we are bringing our bilateral relations to a new level.”
The Austrian Federal Minister for European and International Affairs said the future of security and prosperity of Europe lay in the partnership with Africa, and that “Ghana is a strong and logical partner.”
He said Ghana was a beacon of democracy and stability, which required that the two countries fostered a people-to-people partnership with even strengthened diplomatic ties.
Mr Schallenberg said Ghana and Austria had command approaches based on the rule of law, international law, democracy and common values.
He expressed Austria’s desire to further deepen economic ties, increase trade, investment, and people-to-people contact, stressing that Austrian businesses operated without hidden political agendas.