Switzerland becomes Ghana’s top export partner with $3bn in Trade in 2023

Switzerland has emerged as Ghana’s number one export partner, with exports from Ghana to Switzerland totalling $3 billion in 2023.

The bilateral trade volumes between the two countries saw a significant increase, rising from $1.5 billion in 2019 to over $3 billion in 2023.

Simone Giger, the Ambassador of Switzerland to Ghana, highlighted this achievement during a reception celebrating the 733rd anniversary of Switzerland’s founding. She noted that Ghana has retained its position as Switzerland’s second-largest trading partner in Sub-Saharan Africa, following South Africa.

On its National Day, Switzerland celebrates the institutions that have bolstered its democracy and prosperity since the adoption of its constitution in 1848.

The grand diplomatic reception brought together a distinguished gathering of high-ranking officials, including Ambassadors, government officials, chiefs, chief executives of Swiss businesses, Swiss community in Ghana.

Ambassador Giger said the ongoing development cooperation that existed between Ghana and
Switzerland was a testament to the economic and trade ties between the two countries.

She said under Switzerland’s new cooperation framework with Ghana, spanning 2025 to 2028, Switzerland would collaborate with its Ghanaian partners in several areas relevant to fostering inclusive development.

Working closely with the private sector, she noted that Switzerland aimed to strengthen strategic value chains, invest in skills development for young people, support an effective decentralisation, including bottom-up accountability measures and scale renewable energy solutions.

Mr Francis Asenso-Boakye, the Minister of Roads and Highways, who represented the government, said Ghana had established itself as a safe, secure, and welcome home for foreign investors, businesses, expatriates, and visitors, who were making various contributions to the country’s socio-economic development.

He said that due to the peaceful political climate, security, democratic credentials, and favourable investment conditions, there were over 55 Swiss investments in Ghana, including companies such as Nestlé (GH) Ltd, Accra Brewery, SGS Ghana, Panalpina (GH) Ltd, Devag Ltd; Ghana Pioneer Aluminium Factory, Ghana Industrial Containers Ltd, Barry Callebaut and Blue Skies.

The Minister, also the Member of Parliament for Bantama said the political stability in Ghana, which had been the cornerstone of Ghana’s attractiveness as an investment destination, had boosted the inflow of Foreign Direct Investment to support the country’s economic development.

With the $3 billion trade volumes in 2023, he said it was gratifying to reiterate that Switzerland was one of the few countries with a trade balance in favour of Ghana and that it greatly valued its economic relations with Switzerland.

Mr Asenso-Boakye stated that, with the operationalisation of the African Continental Free Trade Area (AfCFTA), Ghana had become a more attractive destination for Foreign Direct Investment.

SOURCE: GNA