Ghana, UAE sign 5 pacts

• Posted on November 19, 2019
• by Nana Kwesi Coomson
• Comment

Ghana and the United Arab Emirates (UAE) have signed five co-operation agreements aimed at deepening the bonds of friendship between the two countries.

They pacts include a memorandum of understanding (MoU) on the exemption of entry visa requirements, an agreement for the promotion and reciprocal protection of investments and an agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

The rest are an agreement in the field of manpower and an agreement on co-operation and mutual assistance in customs matters.

The pacts were signed when President Nana Addo Dankwa Akufo-Addo paid a day’s official visit to the UAE at the invitation of the Crown Prince of the Emirate of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan.

Excellent relations

In a discussion with Sheikh Al Nahyan prior to the signing of the pacts, President Akufo-Addo noted that the relationship between Ghana and the UAE had been excellent.

He explained that effective co-operation with the UAE and the UAE’s investment in the Ghanaian economy were extremely essential to help deliver progress and prosperity to Ghanaians.

The President said with all the macroeconomic indices pointing in the right direction, coupled with the creation of one of the most business-friendly environments in Africa, Ghana was a safe haven for investments.

He, therefore, encouraged the UAE private sector to invest in Ghana.

Attracting investment

He said the government had embarked on an aggressive public-private partnership programme to attract investment for the development of Ghana’s critical infrastructure needs, especially in the roads and the railway sectors.

“We have resolved to build a progressive and prosperous country and are drawing inspiration from the success story of countries such as the UAE. We have also decided to walk hand-in-hand with the private sector and the business community in this journey,” President Akufo-Addo added.

President commended

Sheikh Al Nahyan commended President Akufo-Addo for the tremendous progress Ghana had made since he assumed the reins of power, culminating in Ghana being one of the fastest growing economies in the world.

He assured his Ghanaian counterpart of enhancing trade and investment co-operation between the two countries.

State visits

President Akufo-Addo left Accra last Sunday night for state visits to the UAE and Germany, and a private visit to the United Kingdom.

A statement from the Jubilee House said from the UAE, the President was expected to fly to Germany to participate in the summit of the G20 Compact with African Countries, of which Ghana is a member.

After the meeting, he will travel to the United Kingdom for a private visit.

Company

The President was accompanied by the Minister of Foreign Affairs, Ms Shirley Ayorkor Botchwey, and some officials of the Presidency and the Foreign Ministry.

The statement said President Akufo-Addo would return on Tuesday, November 26, 2019, and that, in his absence, the Vice-President, Dr Mahamudu Bawumia, shall, in accordance with Article 60(8) of the Constitution, act in his stead.

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