Kirk Discusses U.S.-Ghana Bilateral Investment Treaty With Ghanaian Offiicials
U.S. Trade Representative Ron Kirk concluded a three-day visit to Ghana last week where he discussed with officials “both countries’ interest in considering the possibility of a U.S.-Ghana bilateral investment treaty (BIT),” an USTR release said. In Accra, Kirk had…
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a series of bilateral meetings with business leaders and Ghanaian government officials The discussions centered on the importance of trade and investment in promoting economic growth in Africa and the U.S., as well as the Obama administration’s new Presidential Policy Directive (PPD) for Sub-Saharan Africa, it said. Two-way trade between the U.S. and Ghana reached $2 billion in 2011, a 56 percent increase over 2010, USTR said. U.S. imports from Ghana were valued at $779 million, up nearly from $273 million in 2010. Imports from Ghana under the African Growth and Opportunity Act were $454 million in 2011, and consisted of oil, cocoa powder and paste, vegetables, fruits, precious metals, baskets and apparel, the release said. U.S. exports to Ghana topped $2 billion in 2011, up 25 percent from $963 million in 2010, and included petroleum products, machinery, and vehicles. Ghana was chosen as one of four countries in President Obama’s Partnerships for Growth (PFG) initiative, which is designed to promote broad-based economic growth through trade and investment.