Ghana, US renew pledge to boost trade, investment

by Business Post

Ghana and the United States have reaffirmed their commitment to strengthening economic ties, with renewed focus on the African Growth and Opportunity Act (AGOA), during high-level talks in Washington.

The Minister for Foreign Affairs, Samuel Okudzeto Ablakwa, met with US officials at the United States Department of State, where discussions centred on expanding trade cooperation and deepening bilateral relations.

The meeting, hosted by Under Secretary of State for Political Affairs Allison Hooker and Senior Bureau Official for African Affairs Nick Checker, highlighted AGOA as a key pillar of Ghana-US economic engagement.

AGOA, a US trade initiative that grants eligible African countries duty-free access to the American market, has long been a cornerstone of Ghana’s export strategy—particularly in sectors such as textiles, apparel, and agricultural products.

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Though it initially came to an end in 2024, the programme has been given a second nod to continue for three more years.  Analysts say the programme has supported thousands of jobs and boosted non-traditional exports, though concerns remain about underutilisation and the need for value addition.

During the talks, both sides explored “new avenues for cooperation and enhancing existing partnerships,” with AGOA and the Millennium Challenge Corporation (MCC) featuring prominently, according to a statement.

The discussions come at a critical time as African countries, including Ghana, push for the extension and reform of AGOA beyond its current expiry timeline, amid growing competition from other global trade partners.

Ablakwa also commended the United States for improving visa processing at its embassy in Accra. The enhanced system, he said, has significantly reduced waiting times for Ghanaian applicants.

Both Ghana and the US reaffirmed their commitment to deepening relations “for mutual benefit,” with additional talks covering cooperation ahead of the 2026 FIFA World Cup.

The renewed focus on AGOA underscores its continued importance in Ghana’s trade diplomacy, as policymakers seek to leverage the agreement to drive industrialisation and expand access to global markets.

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