Ghana is aiming to replicate the development model of China, President Nana Akufo-Addo has affirmed.
According to President Akufo-Addo, “we are witnessing today how China’s aggressive development of the market economy, on the wheels of industrialization, in this new era of Socialism with Chinese Characteristics has lifted some half a billion people out of poverty, creating the world’s largest middle class in the process.”
The President was speaking at the round-table meeting of Presidents and Heads of State at the 3rd Summit of the Forum on China Africa Co-operation (FOCAC), in Beijing, China on Tuesday.
President Nana Akufo-Addo said he was inspired by China’s model and was “trying to replicate same, through, inter alia, our industrialization policy of “1-District-1-Factory”, and an increase in agricultural productivity through the programme for ‘Planting for Food and Jobs’.”
He further urged China and Africa to strive for the development of their respective citizens amid enhanced trade ties.
He added that the ‘Belt and Road Initiative’, proposed by China’s President Xi Jinping, will further intensify Chinese commitment to Africa’s development.
“Last night’s message from President Xi, in his opening statement at this Summit, involving the allocation of a comprehensive package of support for Africa’s development, including a $60 billion fund, is a powerful reinforcement of that commitment,” the President recalled.
China lent around $125bn to Africa between 2000 and 2016, according to data compiled by the China-Africa Research Initiative at Washington’s Johns Hopkins University School of Advanced International Studies.
The country invested heavily into roads, railways, ports and other major infrastructure projects.
During the President’s recent visit to China, Ghana and China also signed eight Co-operation Agreements and Memoranda of Understanding in different sectors of their respective economies.
The agreements are the One belt one road Memorandum of Understanding, Memorandum on Regional Aviation Co-operation Agreement for Co-operation in the peaceful use of nuclear energy, and Co-operation to carry out Maternal and Child Health Project.
President Akufo-Addo maintains that the growing ties with China are key to Ghana’s ambitions.
“We believe that effective co-operation with China will help us attain this goal.
Indeed, we want our relations with China to be characterized by an increase in trade and investment co-operation, and not by the export and import of raw materials,” he said.