Ghana and Kenya agreed on Wednesday to form a Bi-National Commission to expand and explore new areas of cooperation within the African Continental Free Trade Area (AfCFTA) agreement.
The two nations signed a memorandum of understanding to elevate their existing Permanent Joint Commission for Cooperation (PJCC) into the new Bi-National Commission during Kenyan President William Ruto’s three-day official visit to Ghana.
The signing was overseen by Ghanaian Foreign Minister Shirley Ayorkor Botchwey and Kenyan Cabinet Secretary for Foreign and Diaspora Affairs Dr. Musalia Mudavadi and witnessed by Presidents Nana Akufo-Addo of Ghana and Ruto.
In addition to the new commission, seven other agreements on education, tourism, diplomacy, defense cooperation, security, trade, investment, manufacturing and governance were signed to strengthen bilateral ties.
“The establishment of the Bi-National Commission will allow our two countries to elevate our interaction and collaboration,” Ruto said, noting the “warm and cordial” relations between Ghana and Kenya.
Trade between the two nations is growing, with Kenyan imports to Ghana valued at $10.4 million and Ghanaian imports valued at $4.8 million in 2022, according to Ruto. Last September, Kenya shipped its first consignment of locally made batteries to Ghana after being selected to pilot the AfCFTA’s intra-African trade initiative.
Both presidents stressed the importance of the AfCFTA, with its secretariat headquartered in Ghana, in transforming African economies. They called for reforms to the United Nations Security Council and international monetary system to benefit African countries.
On climate change, Ghana and Kenya aim to help meet global emissions reduction goals while avoiding jeopardizing Africa’s economic growth opportunities. They urged developed nations responsible for 76% of emissions to fulfill commitments to support developing countries’ climate efforts.
The leaders also backed depositing one-third of African sovereign reserves in continental financial institutions instead of foreign banks to better mobilize resources for Africa’s development.