Singapore to make Ghana trade investment hub

Singapore’s government is to open a trade and investment centre in Accra to promote economic partnership among the countries in the West Africa sub-region.

The International Enterprise (IE) Singapore, an agency under the Singapore Ministry of Trade and Industry, will engage countries within the Economic Community of West African States (ECOWAS) bloc with the official opening of its first Overseas Centre in the sub-region to be based in Ghana.

IE Singapore is a government agency promoting the growth of Singapore’s overseas investments and trade.
Mr Ian Lee, IE Singapore’s Centre Director in Accra, said in a statement copied to the Ghana News Agency that the centre to be opened on July 23, aims to catalyze strategic trade and investment initiatives between Singapore, Ghana and other ECOWAS countries.

Mr Lee said the IE Singapore Accra Overseas Centre would serve as a window to the ECOWAS countries, to promote and facilitate economic partnerships among government and private sector players.

He said: “As the ECOWAS embarks on a path of swift socio-economic development, its countries will require partners that bring meaningful investments.

“Having gone through a similar development path, Singapore is well-placed to share our experience with the region,” he added.

He said IE Singapore would also support companies in the ECOWAS, venturing into Asia, using Singapore as a base for their regional operations.

According to Mr Lee, trade between Ghana and Singapore had been on the uptrend, increasing six-folds to reach S$1.16 billion in 2012.

Mr Lee added: “Supported by the sub-region’s growth, we see an opportunity for Ghana and Singapore to deepen our already positive trade and investment links.

“Singapore companies are reliable, long-term business partners that can participate in Ghana’s development through the transfer of knowledge and technology.”

In Ghana, Singapore hopes to help build capacity and contribute to growth in transport and logistics. Shore up the oil and gas sector, and to offer more options for consumer products on food and electronics through partnering local distributors and setting up manufacturing facilities.

A high powered Singaporean business delegation and Mr Dileep Nair, Singapore’s High Commissioner to Ghana are expected to witness the official opening of the IE Singapore’s Overseas Centre.

Source: GNA