Ghana, Canada Move to Deepen Trade Ties After 50% Surge in Bilateral Commerce

Ghana and Canada are moving to formalise a broader economic cooperation framework after bilateral merchandise trade surged by 50% over the past year, with Canadian exports to Ghana rising by 35%, according to a readout from the Canadian Prime Minister's Office.

President John Dramani Mahama and Canadian Prime Minister Mark Carney met on the margins of the Commonwealth Heads of Government Meeting (CHOGM) in St. John's, Antigua and Barbuda, where they welcomed the recent signing of a Letter of Intent that will guide negotiations toward a formal Canada-Ghana economic cooperation framework .

The proposed framework is expected to open new commercial opportunities for Canadian businesses and workers in sectors including renewable energy, mining, critical minerals, and infrastructure development . The two leaders also exchanged views on their respective efforts to build resilient economies amid global economic uncertainties and agreed to remain in close contact as diplomatic and commercial ties deepen .

Background to the Growing Partnership

The latest figures build on a longer upward trajectory in Ghana-Canada economic relations. Bilateral merchandise trade reached approximately US710 million in 2025, underscoring the extractive sector's importance to bilateral investment ties .

The Letter of Intent welcomed by the two leaders was signed in Ottawa on October 26 by Ghana's Foreign Minister Samuel Okudzeto Ablakwa and Canadian Foreign Minister Anita Anand. It identifies aviation, rail transport, trade facilitation, education, agribusiness, value addition, mining, counterterrorism, renewable energy, and artificial intelligence as priority areas for cooperation, and also covers exploration of structured labour mobility arrangements and expanded scholarship opportunities .

Ghana and Canada established diplomatic relations in 1957, shortly after Ghana's independence, making Canada one of Ghana's longest-standing development and economic partners. In recent years, both countries have increasingly shifted the relationship's focus from development assistance toward trade, investment, and private-sector-led growth . Ghana's position as host of the African Continental Free Trade Area (AfCFTA) Secretariat has further strengthened its appeal as a gateway for Canadian businesses seeking access to a continental market of more than 1.4 billion people .