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πŸ“° News ⏱ 2 min
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Key Points

6 points
1

Cabinet approved the decision to seek membership in the group.

2

India’s foreign affairs minister expressed sympathy and support.

3

Ghana aims to broaden its international partnerships and not abandon traditional allies.

4

Membership is expected to provide more options for economic development and job creation.

5

Trade with India is targeted to increase to about seven billion U.S. dollars.

6

A formal application will be submitted and requires approval from current members.

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Summary

India’s foreign affairs minister visited Ghana, stating India’s strong support for Ghana’s aspirations.

The government says joining will diversify partnerships, create jobs, industrialise the economy, and increase resource sovereignty.

Ghana will maintain relationships with existing partners such as the International Monetary Fund and the World Bank while seeking new cooperation with India, Brazil and China.

Trade with India has more than doubled, and Ghana aims to raise it to around seven billion U.S. dollars.

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New Words to Learn

9 words
BRICS
the association of five large emerging economies: Brazil, Russia, India, China and South Africa.
International Monetary Fund
a worldwide organization that assists countries with financial stability.
World Bank
an international institution that funds development projects such as infrastructure.
Industrialise
to develop more factories and manufacturing capabilities.
Sovereignty
the authority of a country to control its own resources and decisions.
Multipolar world
a global situation where many countries have influence instead of just one dominant power.
Comprehensive partnership
an extensive agreement covering many areas of cooperation.
Trade
the buying and selling of goods between countries.
Investment
money put into projects to help them grow.
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