GIPC, GEPA engage Trinidad and Tobago on trade enhancements

Delegates from the Ghana Investment Promotion Centre (GIPC) and the Ghana Export Promotion Authority (GEPA) have initiated discussions with Trinidad and Tobago officials to explore the possibility of establishing Double Taxation and Bilateral Investment treaties.

The aim is to bolster trade relations between the two nations.

The engagement occurred during a meeting between the Ghanaian delegation and representatives of Trinidad and Tobago's Chamber of Industry and Commerce (TT Chamber) last week.

Identifying key sectors in Trinidad and Tobago, including manufacturing, the Ghanaian team highlighted opportunities for collaboration with Ghanaian SMEs.

Yofi Grant, CEO of GIPC, expressed optimism about the partnership, emphasizing the potential for mutual benefit considering the economic situations and contributions of each country.

Grant stated, “There is a lot to trade not only in goods but services, particularly in the oil and gas sector where Trinidad and Tobago seem to have built some capacity and experience which they can leverage in Ghana.”

Dr. Afua Asabea Asare, CEO of GEPA, revealed plans to establish a Ghana Trade House in Trinidad and Tobago to showcase Ghanaian products and culture.

The TT Chamber announced its intent to conduct an audit of its members already operating in Africa, as a foundation for future collaborations. The Chamber also pledged to establish a link with GIPC for streamlined cooperation.

During discussions with Trinidad and Tobago's Trade Minister, Paula Gopee-Scoon, and other officials, Minister Gopee-Scoon highlighted the potential for trade and investment between the two countries.

She underlined the value of these engagements in fostering economic growth, cultural exchange, and mutually beneficial partnerships.

Agreements were also reached to include a Trinidad and Tobago steelpan band and masquerades in the upcoming Taste of Ghana event.

Additionally, both parties committed to accelerating ongoing negotiations for a Reciprocal Protection and Promotion of Investments Agreement (RIPPA), aiming to finalize the agreement by the end of 2023.

The TTMA, in collaboration with ExporTT, has plans for a trade and investment mission to Ghana in early 2024 to further strengthen ties between the nations.