By Ebi Kesiena
India and Ghana have embarked on discussions aimed at integrating operations of a Unified Payment Interface (UPI) of National Payments Corporation of (NPCI) Ghana’s Interbank Payment and Settlement Systems (GHIPSS) within a period of six months.
This was decided at the fourth session of India-Ghana Joint Trade Committee held in Accra last, according to a statement issued by the Commerce Department on Monday.
The statement outlined the outcomes of the discussions held during the session.
Beyond the UPI operationalization, both nations explored the potential for a Memorandum of Understanding (MoU) on digital transformation solutions and the establishment of a Local Currency Settlement System.
Additionally, deliberations focused on the opportunities presented by the African Continental Free Trade Agreement (AfCFTA), underscoring the broader regional context of their economic collaboration.
A delegation comprising seven members from India, with Commerce Additional Secretary Amardeep Singh Bhatia at the helm, participated in the India-Ghana Joint Trade Committee proceedings, held in Accra on May 2-3. Co-chaired by Ghana’s Deputy Minister for Trade and Industry, Michael Okyere-Baafi, and Bhatia, the committee session facilitated robust dialogue and strategic planning.
The discussions encompassed various sectors with the aim of bolstering bilateral trade and fostering mutually beneficial investments.
Key areas identified for collaboration include pharmaceuticals, healthcare, information and communication technology, agriculture and food processing, renewable energy, power sector, digital economy, digital infrastructure, critical minerals, and textiles & garments.
Noteworthy participants from India’s official delegation included representatives from the Geological Survey of India, EXIM Bank, and the Indian Pharmacopoeia Commission. Their inclusion underscored the breadth of expertise and resources that India brings to the table, signaling a commitment to comprehensive engagement and partnership with Ghana in diverse fields of economic development and innovation.
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