Home Business Ghanaian Exporters to Enjoy a Boosted Trade as Ghana and UK Sign a Tariff-Free Deal

Ghanaian Exporters to Enjoy a Boosted Trade as Ghana and UK Sign a Tariff-Free Deal

by The Ghana HIT

It is a big boost for the Ghanaian exporters following a trade partnership agreement signed between UK and Ghana that secures tariff-free trade and provides a platform for greater economic and cultural cooperation. The trading partnership agreement is worth £1.2 billion and it reinstates the terms of the economic partnership agreement between the two sides when the UK was part of the EU.

The tariff-free trade deal was signed by the acting High Commissioner of Ghana to the UK, Peprah Ampratwum, and Secretary of State for International Trade Liz Truss at the Department for International Trade in central London and was confirmed by Ghana’s Minister-Designate for Trade and Industry, Alan Kyerematen through a video call to Secretary Truss. Truss marveled at the tariff-free trade deal saying that it was going to boost business between the two countries as well as provide vital jobs and livelihoods for Ghanaians.

“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.” She stated.

Her sentiments were echoed by the UK Minister for Africa James Duddridge, who 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.”

The agreement means that Ghana’s largest exports to the UK, including cocoa, fruits, fish, oil, and mineral fuels among other exports, will benefit from tariff-free access to the United Kingdom. On the other hand, UK’s top exports to Ghana, which include chemical products, machinery, and mechanical appliances, as well as textiles, are also in line to benefit from tariff liberalization from 2023.

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