On 24 September 2024, the Government of the Republic of Trinidad and Tobago and the Government of the Republic of Ghana entered into an Agreement for the Reciprocal Promotion and Protection of Investments (ARPPI).
The Agreement was signed by Senator the Honourable Dr. Amery Browne, Minister of Foreign and CARICOM Affairs, on behalf of the Government of the Republic of Trinidad and Tobago and the Honourable Shirley Ayorkor Botchwey, Minister of Foreign Affairs and Regional Integration, on behalf of the Government of the Republic of Ghana.
The signing ceremony was held in New York in the margins of the High-Level Week of the 79th Session of the United Nations General Assembly. The Agreement marks a significant milestone in the relationship between both countries, solidifying our partnership and laying a foundation for deeper collaboration and diversification of the existing solid political relations, fostering economic growth, by incentivizing the expansion of trade and commercial relations between the two countries by the respective Private Sectors.
Trinidad and Tobago has long-standing historical and cultural relations with Ghana, which has grown considerably over the years. Ghana is a gateway to West Africa, which has a population of approximately 448 million people. Ghana is currently one of Trinidad and Tobago’s top 10 trading partners on the African continent, offering a wealth of opportunities for expanded collaboration. Key sectors such as manufacturing, maritime logistics, business process outsourcing, hotel and resort development, and agro-processing present significant potential for deepening economic partnerships and fostering growth.
At the signing ceremony, Minister Browne highlighted the important work done by the Ministry of Trade and Industry under the leadership of Minister Paula Gopee-Scoon.
The signing of this Agreement complements the assiduous efforts of the Government of Trinidad and Tobago to create a conducive environment to attract investment and to further stimulate economic growth. The Agreement provides the necessary investment framework to support and protect new investments between both Trinidad and Tobago and Ghana. It enables investors from both countries to engage in investment activities with confidence, as it guides the expected behaviour of investors and ensures that the rights of investors and States are protected. The Agreement also offers protection such as fair and equitable treatment and protection against expropriation, and establishes mechanisms for resolving investment disputes.
This milestone highlights the shared commitment of Trinidad and Tobago and Ghana to leverage the opportunities of globalization, drive sustainable development, and enhance the well-being of their citizens through mutually beneficial cooperation.
