In then course the State visit of President Umaro Mokhtar Sissoco Embaló of Guinea-Bissau, President Nana Addo Dankwa Akufo-Addo announced the significant progress made by Ghanaian products under the Guided Trade Initiative of the African Continental Free Trade Area.

President Akufo-Addo highlighted that since the launch of the Guided Trade Initiative in October 2022, over 700 AfCFTA self-defined products from Ghana, including cosmetics, processed foods, coconut oil, Shea butter, and garments, have been introduced and targeted by the AfCFTA market.

Addressing a Joint Press conference following bilateral discussions with President Embaló and his ministerial team from Guinea-Bissau, who are visiting Ghana, President Akufo-Addo emphasized the transformative impact of such initiatives, “will give us the best opportunity to derive maximum benefit from our abundant natural resources and from our participation in the AfCFTA, and help bring progress and prosperity to our people.”

He expressed confidence that Ghana and seven other nations' participation in the GTI of the AfCFTA would spur intra-African trade, enhance the competitive advantage of participating countries, and strengthen their position in the global market.

Furthermore, he noted that through the GTI, Ghana has already made significant strides in penetrating the East African market, particularly in Kenya and Tanzania.

The Guided Trade Initiative aims to facilitate meaningful commercial exchanges and assess the operational, institutional, legal, and trade policy landscape under the AfCFTA, which seeks to unify a market of approximately 1.3 billion people with a combined GDP of $3.4 trillion.

President Akufo-Addo and his counterpart from Guinea-Bissau have been exploring avenues to further enhance political, economic, cultural, and people-to-people exchanges between their countries and promote cooperation at both bilateral and multilateral levels.

He said President Embaló is in Ghana to “reaffirm the ties of cooperation and the bonds of friendship that Guinea Bissau attaches to her relations with Ghana.”

In addition to discussing the manifold benefits available under the AfCFTA, the two leaders explored comprehensive strategies to attract both domestic and foreign investment opportunities into their respective countries. They emphasized the importance of bolstering cooperation and partnership in their development endeavors.

Aside the shared commitment to the promotion of a fairer world and addressing global issues relating to the 17 goals of the United Nations, they also agreed to intensify advocacy towards the “urgent necessity for the reform of the United Nations, especially of its Security Council” and reiterated their joint commitment to Common African Position on UN reform based on the Ezulwini consensus.

He further observed that during additional discussions conducted in a constructive and friendly atmosphere, emphasis was placed on various sectors including education, trade and industry, agriculture, fisheries and aquaculture, environment, science and technology, petroleum and hydrocarbon activities, and tourism.

On cooperation in the development of their respective fisheries sectors, he explained that, “the Joint Venture Partnership between private companies of both countries, granting of licenses to Ghanaian fishing vessels, to fish in Guinea-Bissau waters, training of Guinea Bissau personnel in Ghana Fisheries school and the Regional Maritime Academy in electronics, exchange of information on all aspects of fishing, technology, assistance and cooperation from Ghana, in the development of artisanal fishing in Bissau and signing of bilateral fishing agreement between the two counties to safeguard among others the lives of Ghanaians who work in the fishing industry in Bissau. “

In light of this, Ghana and Guinea-Bissau have mutually decided to organize the inaugural session of the Permanent Joint Commission for cooperation later this year. This commission will establish the legal and institutional framework necessary for addressing the trade and investment interests of both countries.

Additionally, discussions were held regarding the activities of Ghana's contingent of approximately 101 soldiers, who are part of the ECOWAS Stabilization Support Mission stationed in Bissau since the attempted coup of February 1, 2022. Their duty involves providing security to the President and the Presidential palace, a matter that was also addressed during the talks.