The Association of Ghana Industries (AGI) and Business Council for International Understanding (BCIU), on Tuesday signed a Memorandum of Understanding to work together to enhance and increase cooperation between private sector businesses of Ghana and the United States of America.
The AGI is the leading voice of the private sector in Ghana while BCIU is US-based not-for-profit association that aims to promote international understanding through international business.
Nana Owusu-Afari, President of AGI and Mr Peter Tichansky BCIU President, signed the MOU on behalf of their respective organisations.
Under the terms of the MOU, BCIU will endeavor to provide opportunities for AGI to highlight Ghana as an ideal investment location and regional hub for multinational corporations and to establish AGI's identity as a powerful institution vis-a-vis the American business community and the United States Government.
In addition, BCIU will identify strategic business to business partnerships in specific sectors as identified by AGI.
Besides, AGI and BCIU will develop the necessary mechanisms to engage in efficient coordination, decision making, and joint planning; create monitoring/evaluation and reporting practices to measure performance and maintain transparency; manage financial matters; address other matters that arise.
The two institutions also agreed and commit to pursuing only those objectives which are mutual and in the national interest of Ghana and the United States.
They also pledged to protecting and elevating the brands and reputations of the two organizations and to undertake an official evaluation and option for renewal after two years.
Commenting, Nana Owusu-Afari said the MOU was a great milestone in the history of the AGI and expressed the hope that the partnership would further strengthen the relationship between Ghana and the US in terms of business promotion.
He said the deal would also help facilitate business promotion and formalize private sector relationship with the United States.
Mr Tichansky described the signing as historic moment and said BCIU would play a valuable role in promoting business to business and government to business interactions.