The Second Round of negotiations of the Ghana-Singapore Bilateral Investment Treaty (BIT) took place at the offices of the Ghana Investment Promotion Centre (the lead Negotiating Agency for BITs on behalf of Ghana) on 21st – 23rd August 2019.

The Ghana team, which comprised of officials from the GIPC, the Ministry of Finance, Ministry of Foreign Affairs and the Attorney General’s Office was headed by Mrs. Naa Lamle Orleans-Lindsay- Head of the Legal Division of GIPC whiles the Singapore team was headed by Mr. Tham Shen Hong, Assistant Director, International Trade Cluster at the Ministry of Trade and Industry of Singapore.

The negotiations were not concluded, as both sides agreed to continue the finalization of the agreement at a later date.

According to Enterprise Singapore (the government agency championing enterprise development in Singapore), in 2017 Ghana’s bilateral trade with Singapore amounted to S$262.4 million. In both countries, the private sector shares similar interests in oil and gas, as well as export businesses.

A bilateral investment treaty (BIT) is an agreement establishing the terms and conditions for private investment by nationals and companies of one state in another state. BITs are established through trade pacts.

Source: GIPC