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Zero-tariff policy to boost Ghana-China trade: Ghanaian president

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Zero-tariff policy to boost Ghana-China trade: Ghanaian president

2025-12-06 17:50 Last Updated At:21:57

Ghanaian President John Dramani Mahama said that the zero-tariff policy with China will further boost trade between the two countries, as Ghana seeks to sync up on product standards to increase exports to China.

In an interview with China Media Group (CMG) aired Friday, the president hailed the economic and trade cooperation with China. Ghana is among the first sub-Saharan countries to establish diplomatic relations with China and remains an important strategic partner of China in Africa.

In 2024, the trade volume between Ghana and China reached 11.8 billion U.S. dollars, with an annual growth rate exceeding 7 percent, and this growth momentum has continued into 2025.

"Actually, China is Ghana's biggest trading partner, and trade between Ghana and China has continued to grow exponentially. The zero-tariff policy is now kicking in and so I believe that it will create a conducive atmosphere for us to grow that trade even more," he said.

To achieve truly sustainable growth, China and Ghana are working together to address practical challenges and align their economic strategies, moving from trade in raw materials to a more value-added collaboration, the president noted.

"We're looking on the Ghanaian side for Chinese industries to come and help us add value to the products that we have, so that we can export back into the Chinese market. Apart from that, there's the important issue of harmonization of standards. China has about 40 standards and so we need to harmonize our standards with the Chinese standards so that it makes it easier for us to export into the Chinese market. So those are the areas that are ironing out and I think that we can reach an understanding as long as the relationship between us is what it is," said the president.

Zero-tariff policy to boost Ghana-China trade: Ghanaian president

Zero-tariff policy to boost Ghana-China trade: Ghanaian president

European Central Bank President Christine Lagarde has emphasized the need for readiness in tackling the challenges to the international order, which she believes will be a long-term issue for the world.

In an exclusive interview with the China Global Television Network (CGTN) on Wednesday on the sidelines of the ongoing 2026 annual meeting of the World Economic Forum (WEF) in the Swiss Alpine town of Davos, Lagarde highlighted that the recent global developments and the geopolitical uncertainties are hindering economic progress and impacting people's lives.

"Whenever there is war in the world, and there is plenty of that at the moment, it is a break on economic development, it is a break on growth, and obviously it is affecting the life of people," said Lagarde.

Speaking at a discussion panel at the forum, the ECB president said "The curtain is rising on a new world order," where global cooperation, free trade, and the U.S. leadership are being replaced by a more fragmented landscape.

Regarding this new order, She told CGTN that it presents a long-term challenge that requires preparation.

"The challenge to the international order, which is a longer-term issue, which requires that we prepare ourselves, and that maybe we change the way in which we operate, is a more medium and long-term issue," said Lagarde.

With the theme "A Spirit of Dialogue," the 2026 annual meeting of WEF meeting opened on Monday and will run through Friday. About 3,000 leaders and experts from around the world are gathering to discuss five pressing global challenges, including enhancing cooperation, unlocking new sources of growth and deploying innovation at scale and responsibly.

ECB president calls for readiness in addressing challenges to international order

ECB president calls for readiness in addressing challenges to international order

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