FBA EAC Embassy Meetings: A New Vector for the Development of Relations between Russia and Ghana
In February 2026, a working meeting was convened at the residence of the Embassy of the Republic of Ghana in Moscow between Marina Nesterenko, Chairwoman of the FBA EAC Committee on International Cooperation and Tourism, and His Excellency Dr. Koma Steem Jehu-Appiah, Ambassador Extraordinary and Plenipotentiary of the Republic of Ghana to the Russian Federation.
The dialogue focused on enhancing bilateral trade and economic partnerships, as well as exploring opportunities for Russian businesses to enter the West African market. Chairwoman Nesterenko presented the FBA EAC's potential in international cooperation, tourism, and investment, briefed the Ambassador on the Association's economic forum scheduled for November in Moscow, and confirmed the Committee's readiness to facilitate the identification of reliable business partners for Ghanaian companies.
The discussion underscored the importance of developing cooperation in the agro-industrial sector, digitalizing financial services, and exploring Ghana's investment potential.
Trade between Russia and Ghana experienced substantial growth in 2025, reaching an all-time high of approximately $1.85 billion, representing a 10-15% increase compared to the 2023-2024 period. In 2025, Ghana imported a record quantity of Russian wheat, approximately 1.2-1.3 million tons. Russia is keen not only on the supply of raw materials but also on the construction of flour mills within Ghana.
Ghana's export profile includes potash and mixed fertilizers. In the year 2025, Russia exported approximately 200,000 tons of fertilizers, primarily potash and nitrogen. Imports from Ghana to Russia remain modest, totaling $25-30 million. Russian purchases from Ghana include cocoa beans, with Ghana being the second-largest producer globally, and cocoa paste, accounting for up to 70% of total supplies.
Ghana possesses significant but underutilized tourism potential, positioning itself as the "Gateway to Africa" and emphasizing cultural, historical, event, and ecological tourism.
For the Russian tourism industry, Ghana presents an emerging destination with limited competition among Russian tour operators. Resolving visa and logistics issues, including the introduction of e-visas, which has been already successfully resolved, and the establishment of direct flights, could enable Ghana to attract up to 50-70,000 Russian tourists annually within the next five years, currently representing less than 0.5% of its potential.
Ghana expresses interest in investing in tourism infrastructure, particularly in the construction of apartment hotels and boutique guesthouses along the coast (Central, Volta region), where Russian expertise in tropical climate hotel management is highly sought after.
Ghana's demand for medical tourism and spa resorts, as well as the establishment of rehabilitation centers utilizing thermal springs, is substantial.
His Excellency Dr. Koma Steem Jehu-Appiah highlighted the traditionally friendly nature of Russian-Ghanaian relations and emphasized the significance of expanding business contacts between the two countries' business communities. One of the cooperation objectives is to organize joint business missions and promote Ghana as a venue for conferences and forums attended by Russian businesses operating in Africa. As the business capital of West Africa and home to the AfCFTA secretariat, Ghana is strategically positioned to facilitate such initiatives.
In the near future, a Russia-Ghana Business Council will be established, which will be formally announced on March 6 during Ghana's Independence Day celebrations. His Excellency extended an invitation to Ms. Nesterenko to join the Council and participate in its activities.
Following the meeting, the parties agreed to develop a roadmap for future cooperation and explore formats for the participation of Ghanaian representatives in events organized under the auspices of FBA EAC.