Ghana’s pursuit of BRICS partner-country status could create new export opportunities for local businesses, but the ability to convert expanded trade relationships into higher export earnings will depend on the competitiveness of domestic industries.
With access to major emerging economies across Africa, Asia, the Middle East and Latin America, Ghanaian exporters could gain additional markets for locally produced goods, diversify their customer base and reduce dependence on a relatively narrow range of international trading partners.
The Institute of Economic Affairs (IEA) says the proposed partnership presents an opportunity to strengthen Ghana’s international trade position, particularly for businesses seeking to expand beyond traditional export destinations.
In a statement issued to the media, the institute supported the government’s decision to pursue BRICS partner-country status, describing the bloc as a potential platform for expanding commercial relationships and improving Ghana’s participation in emerging markets.
BRICS comprises ten countries with a combined population of more than 3.5 billion people and accounts for approximately 30% of global economic output, offering a substantial potential consumer and investment market for Ghanaian businesses.
However, access to these markets will not automatically translate into export growth.
The IEA cautioned that Ghanaian companies would need to improve product quality, meet international standards and strengthen their ability to compete on price, reliability and supply capacity.
For exporters, this means that opportunities created through diplomatic and trade relationships must be matched by improvements in production capacity, certification, logistics and access to export financing.
The challenge is particularly relevant for Ghana’s agricultural and manufacturing sectors, where businesses could benefit from access to larger consumer markets but often face constraints in meeting international quality requirements and supplying goods consistently at competitive prices.
Stronger commercial relations with BRICS economies could also provide opportunities for Ghana to attract investment, establish industrial partnerships and develop new value chains that increase the domestic value of its exports.
The IEA therefore wants the government to establish practical mechanisms to connect Ghanaian businesses to opportunities emerging from the proposed partnership, rather than treating the engagement primarily as a diplomatic achievement.
This would require deliberate support for export-oriented businesses, improved market intelligence, stronger trade facilitation and policies that enable local companies to increase production and meet the requirements of prospective buyers.
BRICS was established to give major emerging economies a stronger collective voice in global economic governance and international financial institutions.
Its ten members are Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia.
The bloc has also introduced a partner-country category, which Ghana is seeking to join. Existing partner countries include Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam.
For Ghana, the commercial value of the proposed relationship will ultimately depend on how effectively businesses can access these markets and generate additional export revenue.
The IEA said the partnership should be assessed against its contribution to Ghana’s development objectives, including the creation of decent jobs, expansion of economic opportunities and improvements in living standards.
