The Minister for Finance, Cassiel Ato Forson, has called for reforms to Ghana’s trade with China to place greater emphasis on adding value to raw materials locally before exporting them to the Chinese market.
He made the call as Ghana and China opened the Fifth Session of the Ghana–China Joint Commission on Economic, Trade and Technical Cooperation, where he advocated a new paradigm of trade centred on value addition, industrial investment and capacity building.
The Minister acknowledged China’s position as Ghana’s largest trading partner, with bilateral trade reaching a record US$14.1 billion in 2025, representing a 19.3 per cent increase over the previous year.
However, the structure of that trade remains heavily weighted towards Chinese exports to Ghana. In 2024, bilateral trade stood at US$11.835 billion, with Chinese exports to Ghana valued at US$9.844 billion, compared with US$1.992 billion in imports from Ghana. China’s exports included machinery, electrical equipment, textiles and steel, while Ghana’s exports to China included crude oil, manganese ore and cocoa beans.
At the broader continental level, trade between China and Africa reached a record US$348.05 billion in 2025. Chinese exports to Africa accounted for about US$225.03 billion, while imports from African countries stood at US$123.02 billion, leaving Africa with a trade deficit of about US$102 billion.
Against this backdrop, Ghana’s exports to China have continued to be concentrated largely in commodities and raw materials, while Chinese exports to Ghana have featured a wide range of manufactured and higher-value products. The Minister therefore stressed the need for Ghana to process more of what it produces and increase the volume of value-added products, including processed cocoa, entering the Chinese market.
“As we open the Fifth Session of the Ghana–China Joint Commission, I emphasise that while China is Ghana’s largest trading partner, the structure of our trade must improve. Ghana’s priority is to process more of what we produce and export more value-added goods, including processed cocoa, to China.”
“We are also seeking investments that build factories, transfer technology, support Ghanaian businesses, train our people and create sustainable jobs,” he stated.
The push for greater value addition comes as China expands market access for African products. From May 1, 2026, China extended zero-tariff treatment to products from 53 African countries with which it has diplomatic relations, including Ghana. The policy covers a broad range of African exports and is intended to facilitate greater access to the Chinese market.
For Ghana, the challenge will therefore be to use that expanded market access to move beyond the export of largely unprocessed commodities and build stronger domestic value chains through investment in processing, manufacturing, technology and skills. This would allow a greater share of the value generated from Ghanaian resources and agricultural production to remain within the economy.
On the Chinese side, Assistant Minister for Commerce Zhang Li acknowledged Ghana’s economic recovery and expressed China’s commitment to deepening economic cooperation with the country. He also highlighted opportunities for stronger collaboration as Ghana pursues industrialisation and economic transformation.
The discussions come as both countries seek to deepen economic ties beyond conventional trade. Chinese investment is already present in Ghanaian sectors including mining, energy, manufacturing, construction and other areas of the economy, with Chinese officials signalling interest in further investment, technology transfer and industrial cooperation.
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