President Mahama Champions Economic Partnership with Russia to Drive Local Growth and SME Development
President John Dramani Mahama has called for stronger trade and investment relations between Ghana and Russia, urging both countries to remove practical barriers that prevent businesses from building lasting commercial partnerships.
Addressing the 3rd Russia-Africa Summit in Moscow, President Mahama said trade between Africa and Russia had considerable room to grow, both in the volume and range of goods exchanged.
“Our task is to remove the practical barriers that prevent businesses from translating goodwill into lasting commercial relationships,” he said.
President Mahama identified cocoa, cashew, shea nuts, horticulture, mineral processing and manufacturing as areas offering opportunities for Ghana-Russia economic cooperation.
He invited Russian businesses to partner Ghanaian companies in agro-processing, fertiliser production, agricultural machinery, pharmaceuticals, energy, transport infrastructure and the digital economy.
The President said such partnerships should build local expertise and create opportunities for small and medium-sized enterprises alongside larger investors, ensuring that investment also supports local businesses.
He called for improved access for African products in Russian markets, citing the need for better market information, predictable standards, stronger logistics and closer cooperation between business communities.
President Mahama also urged both countries to explore appropriate mechanisms for settling legitimate trade transactions, including the use of local currencies and digital payment systems. He said central banks, commercial banks and fintech companies had important roles to play in facilitating trade and investment.
Beyond expanding economic relations, President Mahama urged leaders at the summit to translate the opportunities discussed into practical outcomes that would benefit citizens.
“Mr President, this summit has opened many opportunities for partnership. Let us therefore leave this summit with a clear commitment to action and the resolve to follow through,” he said.
He stressed that the value of the longstanding relationship between Africa and Russia should be measured by the progress it delivers to communities and the improvements people experience in their daily lives.
“The most lasting expression of our friendship will be the progress our people can see in their communities and their lives,” President Mahama stated.
Richard Aniagyei, ISD
