Ghana has finalized a trade agreement with UK-Kyeremanten
Trade Minister-designate Alan K. Kyeremanten has announced that Ghana and UK have finalised 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.
According to him, this reaffirms our longstanding trade & economic relationship.
On 31 December 2020, Ghana and the UK announced that they had reached a consensus on the main elements of a trade agreement that would replicate the effects of the trade relationship between Ghana and the UK prior to the end of the Transition Period following the withdrawal of the UK from the European Union.
The two countries stated their intention to finalise the text of the agreement to reflect progress made in relation to rules of origin, cumulation arrangements, time-bound commitments, provisions for development cooperation and commitments to human rights and good governance.
The 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 new Agreement reaffirms the deep interest of both Ghana and the UK to strengthen their longstanding trade and economic relationship.
It 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.
The Agreement further underscores their shared ambition to enhance relations between the UK, ECOWAS and African States more broadly.