• Saturday Apr 10 2021
  •  
  • .
Ghana High Commission
ghanaflage
13 Belgrave Square,London SW1X 8PN
Chancery and Administrative Service
.

News
20210303125336PMUntitleddesign(5).png
GHANA SIGNS TRADE PARTNERSHIP AGREEMENT WITH THE UNITED KINGDOM

Ghana and the United Kingdom signed an Interim Trade Partnership Agreement on Tuesday 2 March 2020, concluding on negotiations that began in March 2018. The Agreement will facilitate the building of a trading relationship to the tune of about £1.2 billion. The terms of the Agreement reaffirmed the deep interest of both Ghana and the United Kingdom to build and strengthen their long-standing trade and economic ties.

The Agreement secures a tariff-free and quota-free access for Ghanaian products to the UK market and preferential tariff reductions for UK exports to the Ghanaian market. The Agreement will in no doubt enhance a greater economic and cultural cooperation between Ghana and UK.

The Agreement replaces the interim Ghana-European Union Economic Partnership Agreement which governed trade relations between Ghana and the UK until the Interim Economic Partnership Agreement ceased to apply to the UK on December 31, 2020, when the latter exited the European Union.

The Agreement which was signed by the Acting Head of Mission of the Ghana High Commission in the UK, Mr. Peprah Ampratwum, and the International Trade Secretary, Rt.Hon. Elizabeth Truss, will come into force on 5 March 2021.

In a brief remark, the International Secretary indicated that she was delighted to have signed the Agreement with UK’s friends and partners in Ghana. She added that the Agreement will offer certainty for businesses providing vital jobs and livelihoods in Ghana, and further strengthen the bilateral ties between the two countries.

The Secretary of International Trade expressed optimism that the UK looks forward to further deepening its trade relations in the not too distant future with the broad West Africa Region.

On the part of Ghana, the Agreement was a welcome feat for Ghana on the heels of a tariff-free and quota-free access in the UK. This Agreement will support businesses to increase their processes, encourage innovation in markets and create jobs as the country recovers from the ravaging effects of the coronavirus pandemic.

Ghana’s range of exports to the UK includes cocoa, cocoa preparations, mineral fuels and oil, fish, fruits whereas the UK exports clothing/textiles, machinery, and mechanical appliances, and chemical products to the Ghanaian market.

 

GHANA HIGH COMMISSION, UK

2 MARCH 2021

Recent News

View All