By Laudia Anyorkor Nunoo, GNAÂ
Tema, Nov. 06, GNA — Ghana must develop a comprehensive national engagement strategy to maximise the economic opportunities associated with its proposed partnership with the BRICS grouping, two business experts have said.
They said the country needed clear priorities, measurable targets and effective coordination among government, academia, industry and the private sector to ensure that the proposed partnership translated into tangible economic benefits.
Mr Emmanuel Doni Kwame, Secretary-General of the International Chamber of Commerce (ICC), said Ghana should establish a panel of experts to develop a framework to guide its engagement with BRICS and identify sectors where the country could derive the greatest benefits.
Mr Kwame stated that the strategy should establish clear baselines and key performance indicators to measure progress in trade, investment and the participation of indigenous businesses.
“Until we know a very good strategy, we will still join BRICS as a partner member or full-blown member and still not get the best out of it because there’s no engagement strategy,” he said.
He added that the framework should bring together government, academia, industry, the private sector and civil society to determine the opportunities Ghana should pursue and the areas requiring safeguards.
He also called for the establishment of a governing council to oversee the country’s engagement and ensure that its objectives were achieved.
Mr Appiah Kusi Adomako (Esq), West Africa Regional Director of CATS International, said the proposed partnership could provide Ghana with additional opportunities for trade, investment, technology transfer and access to development financing.
Mr Adomako noted that Ghana should view the arrangement as an opportunity to diversify its international economic relationships while maintaining existing partnerships with Europe, the United States and other traditional partners.
He said the country needed to prepare for possible risks arising from changes in international trade and geopolitical relations.
He added that the benefits of the proposed partnership would depend largely on Ghana’s preparedness and ability to negotiate arrangements that served its national interests.
The experts were speaking during a media engagement powered by the Ghana Ports and Harbours Authority (GPHA) on Ghana’s quest to join BRICS as a partner country and the potential economic benefits of the arrangement.
GNA
Edited by Kenneth Odeng Adade
Reporter: Laudia Anyorkor Nunoo, GNA
Email: [email protected]