Accra, June 5, GNA - One hundred and five Brazilian investors on Sunday descend on Ghana to enter into a bilateral South-South cooperation to undertake numerous investments in many sectors of Ghana's economy.

The delegation, which would be in the country for two days is being led by Mr Miguel Jorge, Brazilian Minister of Commerce, Industry and Foreign Trade would call on the President, Professor John Evans Atta Mills and his Vice, Mr. John Dramani Mahama in separate ceremonies. According to sources close to the Osu Castle, the Brazilians would open an open forum at the Accra International Conference Centre on Monday, June 8.

Following from the discussions that they would have with the government, the two countries would sign a memorandum of understanding to cover areas like chlorine distillation for Ghana's oil industry while they would explore the possibility of building a hydro dam on river Oti. According to the sources the Brazilians would venture into establishing car assembly plant in Ghana as well as undertaking irrigation projects to support Ghana's rain fed agriculture.

According to the Brazilian Embassy in Accra, the initiative is a direct effort by the President of Brazil, Luiz Inacio Lula, to bring Brazil and Africa closer to foster increased cooperation between the two regions and to promote sustainable development of the two continents.