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EU Imports to Ghana Down 11% in 2023, Totalling €3.3 Billion

During the event, the European Union announced a new program worth 32 million Euros to support vaccine manufacturing and the pharmaceutical industry in Ghana. This initiative, called MAV+ will boost the development of vaccines and medicines in Ghana.

The Minister for Trade and Industry has revealed that, in 2023, Ghana’s exports to the European Union (EU) rose from 2.4 billion euros to 2.6 billion euros marking an 8% increase.

Delivering a keynote address during the 2nd Ghana-EU Business Forum in Accra on July 2, 2024, Hon. Kobina Tahir Hammond said Ghana’s imports from the EU decreased from €3.7 billion to €3.3 billion in 2023, a decline of 11%.

“2023 export from Ghana saw an 8% increase, rising from some 2.4 billion euros to 2.6 billion euros while import from the opposite direction experienced, unfortunately, some 11% decline, 3.7 billion euros to 3. 3 billion euros,” Hammond said. 

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He added that, in the same year, the total trade between Ghana and the European Union reached GHC 6 billion.

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The Minister further reaffirmed Ghana’s status as a prime investment destination, assuring investors of the country’s continued attractiveness for business and investment opportunities.

Also, according to the Deputy Director-General of the European Commission, Myriam Ferran, the EU is dedicated to strengthening trade and investment ties, which aligns with the United Nations’ Sustainable Development Goals (SDGs).

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“This strategy is the strategy of the European Union to engage with like-minded partners in building sustainable infrastructure and connectivity around the world and this is the EU’s offer for sustainable bonds in full partnership,” Ferran said.

During the event, the European Union announced a new program worth 32 million Euros to support vaccine manufacturing and the pharmaceutical industry in Ghana. This initiative, called MAV+ will boost the development of vaccines and medicines in Ghana.

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