[ 2021-03-05 ]

Boost for Ghanaian exporters … as Ghana, UK sealed trade agreement

March 4, 2021

The UK on Tuesday signed a trade partnership
agreement with Ghana that secures tariff-free
trade and provides a platform for greater economic
and cultural cooperation.

The deal supports a trading relationship worth
£1.2bn and reinstates the terms of the economic
partnership agreement between the two sides when
the UK was part of the EU.

It means Ghanaian products including bananas,
tinned tuna and cocoa will benefit from
tariff-free access to the United Kingdom. UK
exports are also in line to benefit from tariff
liberalisation from 2023, including machinery,
electronics and chemical products.

The agreement was signed by Secretary of State for
International Trade Liz Truss and Ghana’s Acting
High Commissioner to the UK, Peprah Ampratwum, at
the Department for International Trade in central
London.

Secretary Truss was joined on a video call by
Ghana’s Minister Designate for Trade and
Industry, Alan Kyerematen, to mark the signing.

International Trade Secretary Truss in a statement
said: “I am delighted to be able to sign this
deal with our friends and partners in Ghana. It
provides certainty for businesses that provide
vital jobs and livelihoods in Ghana, and it
strengthens the ties between our two countries.

“We can now look forward to deepening and
furthering our relationship in future, and working
together to secure a broader agreement with the
West Africa Region.”

Minister for International Trade Ranil Jayawardena
said: “This deal secures tariff-free access for
products that British shoppers love – and
supports jobs in Ghana – paving the way for
further economic growth as we build back better
from COVID-19.

“It is further evidence of the UK’s
determination to champion free trade around the
world, which fosters growth, creates jobs and
raises living standards for all.”

UK Minister for Africa James Duddridge said “The
UK and Ghana have a strong partnership and the
signing of today’s agreement marks an important
moment for boosting trade, worth £1.2 billion,
between our two nations.*

“With tariff-free access for Ghana to the UK, it
will enable businesses to scale up their
operations, support innovation in markets and
create jobs as we recover together from the
coronavirus pandemic, ” he said.

Ghana’s largest exports to the UK include
mineral fuels and oil, preparations of fish,
fruit, cocoa and cocoa preparations.

Its top imports include clothing/textiles,
machinery and mechanical appliances, and chemical
products from the UK.

The deal means the UK has now secured trade
agreements with 65 non-EU countries, representing
trade worth £217 billion in 2019.

“This accounts for 97 per cent of the value of
trade with non-EU countries that we set out to
secure agreements with at the start of the trade
continuity programme,” he said.

Source - Ghanaian Times

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