AGI signs MoU with Commonwealth Enterprise and Investment Council

The Association of Ghana Industries (AGI) and the Commonwealth Enterprise and Investment Council (CWEIC) have signed a Memorandum of Understanding (MoU) to work together as Institutional Strategic Partners.

The MoU will help create enabling platforms aimed at attracting high quality investments, promote Industrial and inclusive growth for employment creation.

Mr James Asare-Adjei, President of the Association of Ghana Industries signed on behalf of AGI, while Lord Marland of Odstock, Chairman of Commonwealth Enterprise and Investment Council, also signed for CWEI in the presence of Ghana’s Minister of Trade and Industry, Mr Alan Kyerematen at the just ended Commonwealth Trade Ministers Meeting in London.

Others present during the signing were some staff of Ghana’s High Commission in the UK.

 The MoU is also targeted at formalizing and deepening the level of bilateral cooperation between the AGI and CWEIC, which is the apex organization representing Private Sector businesses within the 52-member states of the Commonwealth. The strategic partnership will focus on creating business opportunities for AGI members to get access to intra-Commonwealth trade and investment, as well as promote joint ventureships and partnerships between Ghanaian industrialists and their counterparts within the Commonwealth. It will also ensure transfer of technology, innovation, technical skill development for wealth creation and reduce unemployment, especially in the Ghanaian industrial sector.

The Commonwealth comprises 52 countries, a population of 2.3 billion and a combined GDP of £6.7 trillion, all doing business in English and using a shared legal framework.

The Commonwealth is enjoying all-time highs in development and trade with a combined growth rate of 4.1%, committed to pursuing an ambitious ‘Agenda for Growth’ with other Commonwealth nations to promote trade, investment and job creation. The Commonwealth includes some of the world’s largest, smallest, richest and poorest countries, spanning five continents with a combined GDP expected to reach US$14 trillion by 2020.

The Commonwealth Enterprise and Investment Council is the private sector’s gateway to doing business in the Commonwealth. It has the role to create opportunities for businesses and help establish the trust between Government and the private sector that will allow the economies of the Commonwealth to flourish. A flagship programme of CWEIC, which Ghana can be a beneficiary is Commonwealth Export Champions, which selects 100 leading SMEs, offer intensive training, mentoring, trade missions and business development support to help win new businesses in the fast growing Commonwealth markets.