By Laudia Anyorkor Nunoo, GNA
Tema, Nov. 10, GNA – Reverend Dr Samuel Worlanyo Mensah, an Economist and Lecturer at the Wisconsin University College, has said that Ghana’s decision to pursue partner country status in the BRICS grouping could open up new trade and investment opportunities, strengthen local industries and support job creation.
Rev Dr Mensah said the proposed partnership offered Ghana an opportunity to diversify its international economic relations, attract investment and expand access to markets among emerging economies.
He made the remarks in an interview with the Ghana News Agency (GNA), describing the government’s decision to seek partnership with BRICS as a positive step towards broadening the country’s economic options.
He said the grouping, comprising Brazil, Russia, India, China, South Africa and other emerging economies, was creating opportunities for increased trade and economic cooperation among its members and partners.
According to him, closer engagement with the bloc could help Ghana attract investors to establish industries, process local raw materials and add value to its natural resources rather than continue exporting them in their primary form.
He said such investments could support industrial diversification, strengthen local entrepreneurial capacity and create employment opportunities.
Rev Dr Mensah said cooperation among BRICS countries could also encourage the use of local currencies in trade transactions, potentially reducing the dependence of participating economies on major international currencies such as the United States dollar and the British pound.
He said increased trade settlement in national currencies could provide additional options for Ghana and other developing economies in managing their international transactions.
The economist said the grouping also offered an alternative platform for development cooperation, through which countries could pursue industrialisation and economic development priorities in line with their national interests.
He argued that Ghana could use the proposed partnership to attract investment into sectors where it had comparative advantages, particularly agriculture, manufacturing and the processing of natural resources.
He said stronger economic cooperation could also provide opportunities for Ghanaian businesses to access wider international markets and develop products for export.
Rev Dr Mensah said the government should therefore identify strategic sectors in which Ghana could attract investment and negotiate partnerships that would support technology transfer, local production and skills development.
He urged the government to remain focused on securing tangible economic benefits from the proposed partnership, rather than treating it merely as a diplomatic achievement.
He said Ghana’s engagement with BRICS should ultimately contribute to economic growth, industrial development and improved employment opportunities.
GNA
Edited by Kenneth Odeng Adade
Writer: Laudia Anyorkor Nunoo, GNA
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