Previous Story
Ghana Signs Trade Partnership Agreement with the United Kingdom
Posted On 05 Mar 2021
By Richard Adorsu-
Photo Credit: PxHere
NEW AFRICA BUSINESS NEWS (NABN) Accra- Ghana has on March 3, 2021 signed a trade partnership agreement with UK that secures tariff-free trade and provides a platform for greater economic and cultural cooperation.
The deal supports a trading relationship worth £1.2 billion 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 liberalization 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 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.”
Ghana’s largest exports to the UK includes oil, fish, fruits, and cocoa. Its top imports include clothing/textiles, machinery and mechanical appliances, and chemical products from the UK.
For New Africa Business News Richard Adorsu Reports, Africa Correspondent
Facebook: newafricabusinessnews.com
Email: Info@newafricabusinessnews.com
AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com
Ghana is in the right direction for trade policies. Thank you for the report. Accra Ghana. Kwasi
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Our great President in Ghana, is doing beautiful job for our Citizens and great Africa. Abina in Kumasi, Ghana
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
This Ghanaian Leadership has being doing beautiful work for the People. That’s why Ghana is among the fastest growing in our beautiful continent and the world in general. Olivier in Kigali RWANDA
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Great reporting, Richard and thank you for covering. Proud African. Goba in Ethiopia. Ife
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Governments in great Africa, should timely focus on the Africa free trade, trade within. That’s the trade that going benefit our honest and hard working people. One Africa one people. Nobel in Molepolole, Botswana
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
love Ghanaian President Nana, the founder and supporter of the year of return, back to MOTHER AFRIKA. The year of return was a great success, millions of blacks all over the world went back to Africa and are continue going back. And building this beautiful continent. May Almighty God, continue blessing great Africa. Calvin in Nairobi, Kenya.
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Congrat Journalist Richard for the win and thank you new Africa news for daily newsletters. Love them. Kampala Uganda. Patrick
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Great report. I hope our leaders will harness the resources from the deal to develop our country. Barbara in Accra, Ghana.
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
This government is working for our people’s development and growth. Thank you for reporting Richard. Samuel in Cape coast, Ghana
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com