ACCRA, Feb 6 (NNN-AGENCIES) — Ghana and the United Kingdom (UK) has finalised an agreement that will provide duty-free and quota-free access for Ghana to the UK market and preferential tariff reductions for UK exporters.
Ghana’s Trade Minister Alan Kyerematen in a tweet said “I am pleased that we have finalised a new Interim Ghana-UK Trade Partnership Agreement providing duty-free & quota-free access for Ghana to the UK market & preferential tariff reductions for UK exporters.
“This reaffirms our longstanding trade & economic relationship.
He added “The Agreement also reflects the importance of integration between the West African States within the context of the Economic Community of West African States (ECOWAS) and amongst African States within the context of the African Continental Free Trade Area. #AfCFTA #GhanaMade“.
In LONDON, International Trade Secretary Liz Truss announced that BRITAIN has secured a trade deal worth £1.2billion with Ghana.
A joint statement from the two countries said: “Today Ghana and the UK are pleased to announce that they have finalised negotiations on a new Interim Ghana-UK Trade Partnership Agreement. This Agreement will provide for duty free and quota free access for Ghana to the UK market and preferential tariff reductions for UK exporters to the Ghanaian market.
“The Agreement will enter into effect following the completion of relevant internal procedures required in both Ghana and the UK.”
It comes after negotiators finalised the outline of a deal on Dec 31.
Since then both sides have been working to come to an agreement on the finer details of the pact.
Truss’s department has signed more than 60 trade deals over the past 18 months, more than any country has ever achieved within the same time period.
At the start of the year the Minister outlined a bold vision in the House of Commons to turbocharge the UK’s trade with international partners.
She said: “In under two years we have agreed trade deals covering 63 countries, plus the EU that account for £885billion.
“That is unprecedented. No other country has ever negotiated so many trade deals simultaneously.
“In 2021 we will be adding to these deals.”
The agreement with Ghana is expected to be signed shortly and comes ahead of anticipated pacts with Australia and New Zealand.
