Vice President John Mahama, on Monday held talks with Brazilian investors aimed at securing a multi-billion cedi deal to shore up the agriculture, energy and defence sectors of the economy for accelerated growth.
The talks, which were held at the Castle, Osu in Accra, with Brazilian industrialists and political leaders, would pave the way for the construction of two hydro power generation plants to boost Ghana's energy supply with 200 megawatts of electricity.
The discussions also focused on the purchase of 2,000 tractors as well as the procurement of helicopters for the Navy to make them more effective in deterring poachers of Ghana's maritime resources and also ensuring effective surveillance of oil installations.
Vice President Mahama led a government team that included the Defence Minister, Lieutenant-General J.H. Smith, the Minister of Communication, Mr. Haruna Iddrisu, the Minister of Agriculture, Mr. Kwesi Ahwoi and Madam Sherry Ayittey, Minister of the Environment, among other dignitaries.
Mr. Miguel Jorge, the Brazilian Minister for Industry, Development and Foreign Trade, led his country's delegation.
It also included Mr Pedro Rodriguez, Chief of Staff of the Brazilian Senate, Dr Marco Auerlio Ubiali, a Member of Parliament and Mr Jose Mauro Couto, a Minister of State.
Speaking before the talks, Vice President Mahama retraced the productive relationship between the two countries, and emphasized the need for more cooperation between the two countries to offset the difficulties imposed by the global financial crunch.
He said Brazil remains a model for many developing countries in view of her ability to develop home-grown ideas for sustained economic growth.
Vice President Mahama thanked the Brazilian government for promoting fair trade and pro-poor policies in a number of developing nations including Ghana to enable them to overcome their development challenges.
He said a manifestation of Brazil's commitment to Africa's development "finds meaning in the decision of President Lula da Silva to send a trade mission to sub-Saharan Africa at a time when many developed nations were rolling back trade assistance to the continent as a result of the global financial crunch".
Vice President Mahama said government would collaborate with Brazil to establish an ethanol factory in Ghana, which, he said could empower it to become a net exporter of sugar and help save the millions of dollars currently used to import the produce.
He appealed to Brazil to help resuscitate Ghana's shea butter industry in view of the promise it holds in reducing poverty significantly in the northern parts of the country.
The Vice President said Ghana would work towards tapping Brazilian technology in promoting pulp factory in support of Ghana's education sector which holds the key to improving the quality of life of the people.
In particular, he said, Ghana would focus on importing technologies that would help tackle development problems in an environmentally friendly manner such as attention on producing ethanol.
Mr. Miguel Jorge said his country would work towards removing the obstacles in the construction of the hydro dams over the Oti and Suri rivers by selecting a construction firm which was solvent to enable the actual work to begin in earnest.
He said such collaboration would enable Ghana scale up her trade deficit with Brazil by creating a platform that would empower Brazilian businessmen to invest in areas that Ghana had a comparative advantage.
Trade volume between the two countries has increased by over 300 per cent since 2002 and now worth more than five million dollars.
Experts pointed to an even brighter future as Ghana has the prospect of exporting shea butter totalling 50 million dollars per year if an agreement signed between Produce Buying Company of Ghana and Sysgate of Brazil becomes successful.
Mr Kwesi Ahowi, Agriculture Minister, speaking at a luncheon held for the delegation at the Accra International Conference Centre, said machinery would be put in place to ensure actual implementation of the various agreements being worked on.
He said in addition to inter-governmental trade links, the two countries had also developed a framework for private sector partnerships and challenged businessmen in the two countries to take advantage of the opportunities offered.
Earlier, the delegation held talks with President John Evans Atta Mills at the Castle.
Mr Jorge presented a letter to President Mills in which Mr da Silva, the Brazilian President re-echoed his country's commitment to Ghana's development drive.