Minister for Foreign Affairs and Trade Promotion of Malta has expressed excitement at the budding economic and commercial ties with Ghana.
Mr. Carmelo Abela, addressing the recently held Malta-Ghana Business Forum, referred to the number of companies already operating in Ghana and the many more considering the move, as an indication of the deepening economic ties.
According to Mr Abelo, the business opportunities have not only given access to Maltese companies to work in Ghana, but have created good job opportunities for both factions.
According to the Minister, “this is how we would like to conduct business with our international partners – promoting and creating opportunities of mutual benefit.”
Minister Carmelo Abela attributed the recent initiatives to the longstanding ties between the Republic of Malta and the Republic of Ghana, which he believes has strengthened increasingly since the two countries established diplomatic relations in 1974.
The opening of the Ghanaian High Commission in Malta in 2014,(the first Sub-Saharan nation to do so) and the opening of the Maltese High Commission in Accra in 2018 (serving as the first Maltese Diplomatic Mission in Sub-Saharan Africa) are two important products of the Ghana-Malta relationship.
“ The signing, in 2014, of the Memorandum of Understanding establishing a Joint Commission between Malta and Ghana, enabled the two nations to deepen bilateral relations in a multitude of diverse areas such as migration, tourism, medicines, education, candidatures and adoptions.” The Minister also said.
Minister Carmelo Abela also stressed the need for air connectivity between the two countries to be smoother and easier. This he believes will surely facilitate trade opportunities between these two important regions.
The Minister in his speech revealed that Malta’s international business links were facilitated by the double taxation agreements that Malta concluded with over 70 countries, while Malta’s membership in the European Union continues to provide direct access to the European Single Market.
He also revealed that Malta and Ghana has signed the Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.
All these economically and commercially enabling agreements notwithstanding, the Minister stressed nevertheless that “the Maltese Government is conscious of the fact that strong economic growth must be complimented by a significant and sustained investment in Malta’s infrastructure”.
In handling this concern, the government has embarked on a programme to upgrade Malta’s infrastructure to meet the challenges presented by the economic success that the nation has experienced in recent years and to open new doors for investment.
The Forum and networking event organised as part of the official State Visit by the President of the Republic of Ghana to Malta, saw the attendance of over a hundred Maltese companies and institutions, as well as fifty incoming Ghanaian companies. The forum provided an opportunity for both sides to gain knowledge about mutually beneficial commercial opportunities in their respective markets. The attendees also got the opportunity to network for possibilities of financing, partnerships and trade in goods and services.
Companies from the following commercial sectors were represented: ICT, pharmaceuticals, manufacturing, printing, construction and real estate, tourism, logistics, financial investment and services, investment and banking, insurance, agriculture, food and beverages, environmental management, electronics, energy (oil and gas), and aviation.