REMARKS BY HON. ALAN KWADWO KYEREMATEN, MINISTER FOR TRADE AND INDUSTRY DURING THE EU-AFRICA BUSINESS SUMMIT, 23RD JUNE, 2022
Hon. Alan Kyerematen, Minister for Trade and Industry, attended the EU-Africa Business Summit on June 23rd, 2022, at the Egmont Palace in Brussels, Belgium. The Summit was organized by the European Business Summits in collaboration with the Federal Public Service Foreign Affairs, Foreign Trade, and Development of the Kingdom of Belgium. It was also attended by business leaders and policymakers from Africa and Europe. The event discussed the current trends and challenges in the framework of Africa-EU relations. The sessions for the 2022 event focused on the European Union's "Global Gateway Strategy."
Hon. Alan Kyerematen spoke on a panel about investment and trade relations between Africa and the EU. He discussed the impact of COVID-19 and the Russia-Ukraine crisis on the developing world and the world at large. He stated that these events were gradually leading the world towards a global economic recession. In view of this, he called for a new economic partnership between Africa and Europe driven not only by governments but also by the private sector, and separate from the Economic Partnership Agreement (EPA) signed between the European Union and the African Regional Economic Communities (RECS). He added that the new Africa-EU partnership should be marked by increased European investments in Africa.
The Honourable Minister emphasized the importance and urgency of the proposed strategic partnership between Africa and Europe due to their shared values, heritage, and tradition; and the strategic location between Europe and Africa in terms of proximity. He highlighted the Ghana government’s initiatives, which serve to develop an aggressive programme for industrial transformation as well a strong macro-economic framework to address the growing global economic woes. He further underscored that these initiatives were the building blocks for a self-reliant resilient economy.