"The signing took place in St. Petersburg at the Russia-Africa forum on July 28. The agreements involve the promotion of Russian companies in the Ghana market. The document was signed by GRBDC President Lawrence Avuku-Boateng and Dmitry Prokhorenko, Director for the Development of the REC Foreign Network," the document says.
The Ghana-Russia Business Development Council is a non-profit organization that brings together Russian and Ghanaian companies interested through the promoting of business relations between the two countries. It is planned that GRBDC will actively facilitate the establishment of business missions and attract potential partners for Russian companies wishing to enter the Ghanaian market.
"The partnership will provide Russian companies with the opportunity to expand their activities and strengthen their position in Ghana, one of the fastest growing economies in West Africa. GRBDC will also inform about major projects developing in the country. This will allow Russian companies to be aware of opportunities to participate in such initiatives," Prokhorenko said
Ghana is one of the high-priority countries for Russia on the African continent in terms of trade and economic relations - thanks to both the stable growth rate of the national economy and significant natural resources. Ghana is currently implementing a number of major infrastructure projects in the construction of oil and gas pipelines, terminals, and is actively modernizing port infrastructure. In 2022, REC Group supported exports to Ghana exceeded $31 million.
As one of the leading cocoa production and export centers, Ghana is also of interest to Russian companies in terms of imports. Previously, most of the cocoa products imported to Russia from Ghana came through European trading companies.