Government’s delegation during the MoU signing
Government, through the Ministry of Trade and Industry, has signed a Memorandum of Understanding (MoU) with Toyota Tsusho Corporation to continue developing mutual collaboration towards rolling out the vision for the automotive industrialisation sector of the country.
The sector Minister, Alan Kyerematen, who signed the MoU, on the sidelines of the 8th Tokyo International Conference in Tunis, Tunisia, explained that the new MoU seeks to explore opportunities in capacity and people development.
He noted that it seeks to enhance the potential to export vehicles assembled in Ghana to neighboring countries. It is also aimed at the possibility of manufacturing the vehicle parts locally to help to develop the automotive market and industry in Ghana.
“It is recalled that in August, 2019, I signed an MoU with Toyota Tsusho Corporation during the TICAD-7 Summit in Yokohama, Japan for the establishment of the Toyota Tsusho Manufacturing Ghana (TTMG) vehicle assembly plant,” he recounted.
Strategies
He also shared strategies to guide Africa’s industrialisation agenda highlighting on political commitment; technology and innovation; medium and long term financing; as well as seizing opportunities which the Africa Continental Free Trade Area (AfCFTA) market presents to both investors from Africa and Japan to create jobs and livelihoods through industrial transformation.
The Plant was finally launched in June, 2021. TTMG is currently assembling the Toyota Hilux (SKD). It would commence the assembling of Suzuki Swift vehicles before the end of this year, 2022.
Government’s delegation at the conference included Shirley Ayorkor Botchwey, Minister for Foreign Affairs and Regional Integration; Deputy Minister of Finance, John Kumah and other Senior Government officials as well as Ghana’s Ambassador to Tunisia.
TICAD is a Summit-level international conference on Africa’s development initiated by Japan in 1993.The conference brought together African countries and development partners, including international and regional organisations, donor countries, Asian countries, the private sector and Civil Society Organisations, to deliberate on Africa’s development.
TICAD-8 focused on promoting fair and transparent development financing for Africa.
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