The Minister for Finance and Acting Minister for Defence, Dr. Cassiel Ato Forson, has held talks with the outgoing Chinese Ambassador to Ghana, H.E. Tong Defa, as part of engagements underscoring the long-standing bilateral relations between Ghana and the People’s Republic of China.
The meeting, which took place in Accra, culminated in the signing of a US$30 million grant agreement aimed at supporting the construction of a new university in Damongo, in the Savanna Region.
The project forms part of ongoing cooperation between the two countries in the areas of education, infrastructure development, and human capital investment.
During the discussions, Dr. Forson expressed appreciation to Ambassador Tong Defa for his role in deepening diplomatic and economic ties between Ghana and China over the course of his tenure.
He conveyed the gratitude of President John Dramani Mahama and the people of Ghana for the ambassador’s contribution to bilateral cooperation, particularly in development financing and technical support.
The Finance Minister also raised concerns about exchange rate losses associated with trade between the two countries, noting that such losses continue to impact the value of bilateral transactions.
He suggested that increased use of local currencies in Ghana–China trade could help minimize exchange-related costs and improve efficiency in commercial exchanges.
According to Dr. Forson, settling portions of trade in the Ghana cedi and the Chinese yuan would be a practical step in addressing currency volatility and strengthening economic cooperation between the two economies.
Ambassador Tong Defa, on his part, reaffirmed China’s commitment to supporting Ghana’s development priorities and acknowledged the cordial relations that exist between the two nations.
The meeting also provided an opportunity to review ongoing cooperation projects and discuss future areas of collaboration.
The engagement formed part of Ambassador Tong Defa’s farewell interactions with key government officials ahead of the completion of his diplomatic assignment in Ghana.
