Nana Addo receives German Chancellor with deepened trade pact

Nana Addo receives German Chancellor with deepened trade pact

- President Akufo Addo has signed an MoU with German car manufacturing giant, VolksWagen

- The signing was done during a state visit to Ghana by the German chancellor, Angela Merkel

- The president has been criticized for signing this pact and leaving local car giant, Kantanka

President Akufo Addo has welcomed the German Chancellor, Angela Merkel to the Jubilee House.

The unprecedented visit will be the first time a Chancellor from Germany ever visited Ghana.

Amidst the tight security deployment on selected roads not abandoning the closure of some of them, the turnout of Angela Merkel's visit was positive.

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It was all about deepening bilateral trade between Ghana and Germany mostly through industrialization and manufacturing.

To this end, the president signed a memorandum of understanding with the German car manufacturing giant, Volkswagen, for the setting up of a car assembly plant in the country.

According to the President, an agreement between Volkswagen, the Government of Ghana, and a local Ghanaian company for the assembly, and, ultimately, the production of automobiles in Ghana has been reached, after a business meeting between officials from Ghana and a German business delegation.

“...there are so many areas that our bilateral relationship has offered us, but the key part of it for me is the emphasis on investment and trade corporation,” the president stated at a joint press engagement with the German Chancellor.

Ghana's local automotive industry

As it stands now, the only local automotive giant in Ghana is Kantanka Automobile. The company has for the past years cried over the neglect by the government of the local automobile industry.

“You need to support what we already have here that employs Ghanaian citizens; why do you have to go out there, get a foreign company, bring them here to compete with your local industry and kill them off?," Chief Executive Officer (CEO) of Kantanka Automobile Limited, Kwadwo Sarfo Junior fumed.

READ ALSO: Ghana's independence wasn't declared by Kwame Nkrumah - Speaker

Ghanaian's outburst over the arrival of VW cars

President Akufo-Addo has received a backlash over the MoU with the German car manufacturing giant. Akufo Addo, according to them, has left Kantanka to rot and rather looked West for foreign domination in Ghana's automobile industry.

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Source: Yen.com.gh

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