IEA urges transparency in Ghana’s BRICS negotiations

The Institute of Economic Affairs (IEA) has urged the Government to ensure transparency in its planned negotiations to secure Ghana's partner-country status in the BRICS bloc.

The Institute said the Government must clearly communicate the country’s objectives, conduct negotiations transparently, and ensure any commitments align with Ghana’s constitutional framework and long-term development priorities.

The call was in a statement the IEA issued on November 9, following the Minister of Foreign Affairs, Mr Samuel Okudzeto Ablakwa, announcing on October 6 that Cabinet had approved Ghana’s application for BRICS partner-country status.

While endorsing the initiative, the Institute stressed the need for appropriate institutional and policy mechanisms to ensure Ghana derives maximum developmental benefits from the proposed partnership.

According to the IEA, Ghana should assess its engagement with BRICS based on its potential to strengthen economic resilience, create decent jobs, and improve citizens' welfare.

The Institute identified opportunities in trade, investment, industrialisation, technology transfer and development financing, noting that deeper engagement with BRICS economies could help diversify Ghana’s export markets and attract investment into productive sectors of the economy.

It, however, emphasised that the partnership should complement, rather than replace, Ghana’s existing international relationships.

The IEA noted that cooperation with the United States, the European Union, the United Kingdom, the International Monetary Fund (IMF), the World Bank, and African regional institutions remained important to its economic and development agenda.

The Institute further urged the Government to pursue the partnership in a manner that preserved Ghana’s independence in determining its national policies and strategic priorities.

The IEA described the decision to seek BRICS partner-country status as a sovereign choice, stressing that Ghana has the right to determine its international partnerships in line with its national interests.

It said the success of the proposed partnership would ultimately be measured by its contribution to national development, economic resilience and the well-being of the Ghanaian people.