Bilateral trade between Ghana and China reached a historic high of $11.84 billion in 2024, marking a significant milestone in the longstanding economic partnership between the two nations.
The record trade volume underscores China’s position as Ghana’s largest trading partner and highlights the expanding scope of economic collaboration across multiple sectors. Trade between the two countries has witnessed steady growth over the years, driven by Ghana’s exports of raw materials such as gold, cocoa, and oil, alongside China’s supply of machinery, electronics, textiles, and construction materials.
The 2024 trade figures represent a notable increase from previous years, reflecting the strengthening commercial ties fostered through mutual investments and strategic agreements under the Belt and Road Initiative (BRI) and the Forum on China-Africa Cooperation (FOCAC).
China remains a powerhouse for global growth, with its GDP reaching nearly 135 trillion yuan (approximately $18.5 trillion), growing by five percent and contributing 28 percent to global economic expansion.
Strengthening Ghana-China Relations
Ghana and China share a relationship built on mutual respect and cooperation, dating back to the establishment of diplomatic ties in 1960. Over the years, this partnership has been characterized by robust engagements in infrastructure, manufacturing, and technology transfer. Chinese companies have played a crucial role in Ghana’s development, particularly in sectors such as energy, telecommunications, and mining.
With continued efforts to enhance economic cooperation, both nations anticipate further expansion of trade and investment, reinforcing their strategic partnership.
Lantern Festival Celebration in Accra
The trade milestone was celebrated at a grand event held at the University of Ghana Sports Stadium in Accra to mark the 2025 Chinese Lantern Festival. The event brought together key dignitaries, including President John Dramani Mahama, Chinese Ambassador to Ghana Tong Defa, Minister of Foreign Affairs Samuel Okudzeto Ablakwa, senior government officials, business leaders from both Ghana and China, and members of the Chinese community in Ghana.
The annual gathering, which serves as the climax of the Chinese New Year celebrations, provided a platform to reaffirm commitments to deepening economic ties and exploring new areas of collaboration between the two countries.
The evening was filled with vibrant cultural performances, with traditional Chinese music blending seamlessly with the rhythmic beats of war drums. As the festivities reached their peak, the audience joined in lighting lanterns, a symbolic act representing unity and hope. Thousands of lanterns in hues of red, gold, and blue illuminated the night sky, mirroring the excitement and joy of the attendees.
China Reaffirms Commitment to Ghana’s Development
Chinese Ambassador Tong Defa highlighted the significance of the 65th anniversary of Ghana-China diplomatic relations, emphasizing the enduring friendship and mutual trust between the two nations. He attributed the record trade figures to years of consistent cooperation and China’s commitment to supporting Ghana’s development.
“China has been Ghana’s largest trading partner and a major investor for many years. Last year, our bilateral trade reached an all-time high of $11.84 billion, demonstrating the strength of our economic cooperation,” Ambassador Tong said.
He outlined China’s contributions to Ghana’s development, citing numerous infrastructure projects, including roads, bridges, hospitals, and educational facilities, funded through Chinese partnerships. He also reaffirmed China’s commitment to supporting Ghana’s industrialization agenda and agricultural modernization.
“As we celebrate 65 years of diplomatic ties, we look forward to enhancing our collaboration in infrastructure, technology, and people-to-people exchanges. Our friendship is built on shared aspirations for economic prosperity and social development,” he added.
Ambassador Tong also announced that 2026 has been designated as the China-Africa Year of People-to-People Exchanges, an initiative aimed at further strengthening cultural ties between Ghana and China. He emphasized the need for continued engagement in trade, investment, and innovation to create new growth opportunities.
President Mahama Calls for Increased Chinese Investment
President John Dramani Mahama, in his keynote address, commended the strong and evolving Ghana-China partnership, emphasizing its impact on Ghana’s economic growth. He acknowledged China’s role as a vital development partner that has contributed significantly to infrastructure, trade, and technological advancement in Ghana.
“Over the years, Ghana and China have witnessed remarkable progress in trade and investment, benefiting both our economies,” President Mahama stated.
He highlighted key areas where Chinese investments have made a difference, including energy, education, and agriculture. Acknowledging the contributions of Chinese businesses in Ghana, he encouraged further investments, particularly in value-added industries, manufacturing, and technology-driven sectors.
“As I mentioned in my inaugural address, Ghana is open for business again. I invite our Chinese partners to explore the vast opportunities available, ensuring a win-win situation for both nations,” he said.
Beyond economic ties, President Mahama stressed the importance of cultural exchanges and education, noting that Ghanaian students studying in China have benefited greatly from scholarships and technical training programs. He called for increased collaboration in innovation and digital transformation to further boost economic growth.
The celebration of the record trade figures and the Lantern Festival marked a renewed commitment to strengthening Ghana-China relations, setting the stage for continued economic and cultural partnerships in the years ahead.
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