- The Deal Means Ghanaian Products Will Benefit From Tariff-free To The United Kingdom
- United Kingdom Signed A Trade Partnership Agreement
The United Kingdom has on March 3, 2021 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 £1.2 billion and reinstates the terms of the economic partnership agreement between the 2 sides when the united kingdom was a part of the EU.
It means Ghanaian products including bananas, tinned tuna and cocoa will enjoy tariff-free access to the uk . UK exports also are in line to profit 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 diplomat to the united kingdom , Peprah Ampratwum, at the Department for International trade 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 ready to sign this affect 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 anticipate to deepening and furthering our relationship in future, and dealing 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 process as we build back better from COVID-19.
“It is further evidence of the UK’s determination to champion trade round the world, which fosters growth, creates jobs and raises living standards for all.”
United Kingdom Minister for Africa James Duddridge disclosed: “The UK and Ghana have a robust partnership and therefore the signing of today’s agreement marks a crucial moment for enhancing trade, worth £1.2 billion, between our two nations.
“With tariff-free access for Ghana to the united kingdom , it’ll enable businesses to proportion their operations, support innovation in markets and make jobs as we recover together from the coronavirus pandemic.”
Ghana’s largest exports to the united kingdom 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 united kingdom .
The deal means the united kingdom has now secured trade agreements with 65 non-EU countries, representing trade worth £217 billion in 2019.
This accounts for 97 percent of the worth of trade with non-EU countries that we began to secure agreements with at the beginning of the trade continuity programme.