Russian delegation in Ghana for business opportunity

A Russian delegation, comprising the country’s foreign ministry officials and private business people, are in Ghana to explore business opportunities in the mining and related sectors.

Led by Russia’s Deputy Minister for Foreign Affairs and Special Presidential Representative for the Middle East and Africa,Mikhail Bogdanov, the delegation includes Boris Ivanov, founder of GBP Global Resources, a leading multi-national company.

The company, whose international businesses include petroleum exploration and production, and mineral extraction, intends to engage in gold refinery as well as invest in the manganese and related industries in the country.

The Minister-designate for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, at a meeting with the delegation yesterday in Accra, expressed the hope that the visit would refresh the long-standing bilateral relations existing  between the two countries for mutual benefits as new opportunities were identified.

She welcomed GBP Global Resources’ investment interest in the country and cited the gold refinery at Tarkwa, which was built by the former Soviet Union, as an investment opportunity worth the company’s consideration.

According to her, the company’s interest in engaging in the gold refinery business was in tune with the government’s agenda of value addition to the country’s natural resources to promote economic development and provide jobs.

She, therefore, assured the Russian envoy of Ghana’s commitment to expedite the processes involved to enable GBP Global Resources to lawfully commence  business in the country.

Ms Botchwey mentioned the low levels of investment and trade volumes between the two countries and called for more Russian investments and trade in Ghana,  especially in the field of energy and the petrochemical industry.

 She assured the delegation of the government’s determination to negotiate with Russia an Agreement on Investment Promotion and Protection and another on the Avoidance of Double Taxation to guarantee Russian investors the security of their investments.

Lauding Russia for the award of scholarships to Ghanaian students over the years to study in Russia, she called for speedy resolution of current challenges as well as increase of beneficiaries to 100 annually to continue building essential human resource for the country.

On health, she expressed Ghana’s interest in initiating discussions with the Russian Government on the acquisition of the Russian-made vaccine, Sputnik-V, as soon as possible, to help Ghana fight COVID-19 infections.

“I hope that Ghana and Russia will continue to collaborate and exchange views on international issues, with a view to contributing towards the maintenance of international peace and security,” she said.

For his part, Mr Bogdanov said his country was committed to the enhancement of trade relations between the two countries and that it looked forward to working with Ghanaian stakeholders to achieve mutual benefit.    

BY JONATHAN DONKOR

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