Ghana, France record €1.4b trade in 2012

Ghana earned 800 million Euros through the export of commodities, including oil, gas, cocoa, bananas and fish to France last year 2012 while France’s imports to Ghana stood at 600 million Euros.

That, according to the Head of Economic Department at the French Embassy in Ghana, Mr Dominique Pantz, gave Ghana a trade surplus of 200 million Euros.

Mr Pantz who was speaking to the Ghanaian Times on the sidelines of a press conference by a French business delegation in Ghana, said the increase in Ghana’s exports to France was driven mainly by oil and gas.

The’ delegation, made up of high level managers of about 30 French companies, is on a two-day visit to the country to-explore investments opportunities. The companies represent strategic sectors such as infrastructural industries, banking, technology, telecommunications, construction, public works and oil and gas.

As part of the visit, the delegation paid a courtesy call on President John Mahama, and had meetings with the Ministers of Finance and Economic Planning, Trade and Industry and also held discussions with the business groups such as the Association of Ghana Industries. )

France, according to Mr Pantz, purchased a lot 0 Ghana’s oil and gas. “I believe France’s purchase of Ghana’s oil and gas will increase in the coming years due to their high quality,” he added. .     /

The leader of the delegation and Chairman of MEDEF International for Africa, an association of French Companies, Mr Patrick Lucas, on his part ‘said, France would increase her trade and investment in the country.

Currently, there are about 60 French companies in Ghana he said, adding “MEDEF wantx to attract more French companies to Ghana.” MEDEF, he said, comprised 800,000•’ French companies abroad.

Mr Lucas, who is the Chairman and Chief Executive of Gras Savoye Group, said MEDEF’s was to facilitate France taking a commanding height in Ghana’s trade and investments, adding that France current overall trade and investment of the Ghanaian economy was just three ‘per cent.

The Senior Executive Vice President of France Telecom-Orange for Africa, the Middle East and Asia, Marc Rennard, said the delegation was excited about the performance of the Ghanaian economy and was .ready to partner government to address the country’s energy ‘and infrastructural problems to boost the economy.

Asked whether the France Telecom was considering investing in the country’s telecommunication industry, he replied that the country’s telecommunication industry was already saturated.

“We have not decided to invest in Ghana’s telecommunications industry because already there are six major players in the industry. In future, if there is the need for us to invest in the sector, we will do so,” Mr Rennard stated.     .

He said the Ghanaian telecommunications market was too small to accommodate more players, noting that the ideal number of companies for the industry should be four.

The French Ambassador to Ghana, Frederic Clavier said the French business delegation’s visit was to strengthen the bilateral and trade relations between

Source: Ghanaian Times