Accra JTC discussed Local Currency Settlement System and AfCFTA
Trade delegates from India and Ghana https://www.hciaccra.gov.in/ have agreed to work expeditiously towards the operationalization of Unified Payment Interface (UPI) of National Payments Corporation of (NPCI) on Ghana Interbank Payment and Settlement Systems (GHIPSS) https://www.npci.org.in/ within a period of 6 months.
Both sides also delved into discussions regarding the possibilities of a Memorandum of Understanding (MoU) on Digital transformation Solutions https://digitalinasia.com/ ; Local Currency Settlement System while deliberating on the opportunities offered by African Continental Free Trade Agreement (AfCFTA).
These were discussed during a Joint Trade Committee (JTC) meeting held in Accra from 2-3 May 2024.
The JTC was co-chaired by Deputy Minister for Trade and Industry, Ghana, Michael Okyere-Baafi https://www.ghana.gov.gh/ ; and Additional Secretary, Department of Commerce, Amardeep Singh Bhatia. Both led their delegations at the talks, the Ministry of Commerce and Industry said on 6 May 2024
Both sides identified several areas of focus for enhancing both bilateral trade as well as mutually beneficial investments https://africacenter.org/ . These include cooperation in pharmaceuticals, healthcare, information and communication technology, agriculture and food processing, renewable energy, power sector, digital economy and digital infrastructure, critical minerals, textiles and garments, etc.
Both sides undertook a detailed review of recent developments in bilateral trade and investment ties and acknowledged the vast untapped potential for further expansion, said the ministry. fiinews.com
