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Govt to reopen negotiations on Bilateral Investment Treaty with Japan

Ghana Web | 27 March 2021

Govt to reopen negotiations on Bilateral Investment Treaty with Japan

The government of Ghana has expressed its interest in concluding the negotiations between it and Japan on the Bilateral Investment Treaty (BIT), which has been pending since April 2014, by resolving all outstanding issues.

This was made known by the Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, when the Japan Ambassador to Ghana, H.E. Himeno Tsutomu, paid a courtesy call on her on Friday, March 26, 2021.

Ghana and Japan have been working at establishing a BIT that will deepen trade and investment cooperation and serve as a tool for bolstering the Ghana-Japan partnership for many years now although negotiations have stalled.

She also indicated that the commencement of trading under AfCFTA should encourage Japanese investors to step up their investment engagement in Ghana, particularly, in the area of agriculture and agro-processing, Education, Tourism, Health, Energy, Petrochemical Industry, Infrastructure Development, Manufacturing and Trade.

She added that ultimately, the people of Japan should be able to use Ghana as a springboard to access the continental market size of 1.2 billion people.

"The establishment of the Japan External Trade Organization (JETRO) in Accra in December, 2020 as well as the Japan-Ghana Business Council in December, 2019, is evidence of the joint commitment of the two countries to prioritize cooperation in the area of trade and investment," Shirley Ayorkor Botchwery added.

Ghana and Japan have collaborated since the 1960s on Health research, Development assistance and Trade. In 2016 Ghana exported over 592m USD worth of goods to Japan and imported close to 600M USD worth of goods from that country, a report on the Ministry of Finance stated.

Among other things, the minister requested of the Ambassador to woo his country so that they are able to support President Nana Addo Dankwa Akufo-Addo’s declaration of this year as the second year of roads.

Shirley Ayorkor Botchwery also expressed Ghana’s willingness to continue working closely with Japan in order to tackle threats to peace and security in the sub-region, Africa and around the globe.

In this regard, she commended Japan for its support extended to the Kofi Annan International Peace Keeping Training Centre to enhance this.

 source: Ghana Web