Total trade transactions between Ghana and Switzerland reached a record of $3.6 billion in 2022, due to long standing mutually beneficial relations, Mrs. Simone Giger, Swiss Ambassador to Ghana, said on Thursday.
Out of the figure, about $3.4 billion was through exports from Ghana to Switzerland, with 50.5 per cent of all Ghana’s exports to Europe going to Switzerland.
The Ambassador said this at the commemoration of the Switzerland National Day, observed in August.
It marks the 732nd Anniversary of Switzerland’s mythological founding, where the Swiss saw the moment as an opportunity to examine the ideals the country had stood for.
Mrs. Giger said the two countries attained the significant trade volumes because of the long-standing relations with some mutually beneficial exchanges in the political, economic, environmental, peace and security sectors.
Economic development and cooperation, she said, remained the key pillars of Switzerland’s collaboration with Ghana with the focus of strengthening institutions for effective public service delivery.
The Ambassador said such strong cooperation had seen an increase in Swiss investments in Ghana, where “over 50 Swiss companies have made Ghana their homes, providing jobs and contributing to the local economy.”
Switzerland, per the Climate Protection Agreement with Ghana in 2020, could partially offset its Carbon dioxide emissions through projects in emission reduction in Ghana.
Touching on security, she said her country had been involved in maintaining the peace and security in the sub-region through support to the Kofi Annan International Peacekeeping and Training Centre (KAIPTC).
Ghana-Switzerland friendship started almost 200 years ago when the Basel Missionaries arrived in the then Gold Coast in 1828, which had enhanced bilateral collaborations for mutual benefits.
In February 2020, President Nana Addo Dankwa Akufo-Addo paid a state visit to Switzerland to participate in the World Economic Forum, where he met with members of the Federal Council of the Swiss Confederation and discussed issues on economic cooperation, the environment, peace and security.
Similarly, in July 2017, Madam Doris Leuthard, a former President of the Swiss Confederation, paid a two-day visit to Ghana as part of a West Africa tour, during which a memorandum of understanding on the establishment of the cocoa platform for sustainable cocoa was signed.
Her visit culminated in Switzerland making available to Ghana a total budget of 75 million Swiss franc to implement specific projects in line with the “Ghana Beyond Aid” agenda.
Mr. Ignatius Baffour-Awuah, the Minister, Employment and Labour Relations, who led government’s delegation to the commemoration, said shared values and mutual understandings, commitment to democracy, trade and investments, support at multilateral level, gender equality and human rights had deepened the relations.
“Due to the peaceful political climate, security, democratic credentials and favourable investments conditions, bilateral trade volumes shot up from $1billion in 2019 to $2.5 billion in 2020,” he said.
“It’s gratifying to mention that Switzerland is one of the few countries with trade balance in favour of Ghana.”
Cocoa and gold had been Ghana’s major exports products to Switzerland, however, following the development of non-traditional exports in Ghana, products such as pineapple, vegetables, medicinal plants and herbs had been part of the new export list.