Ghana and the United Kingdom (UK) have signed a new trade agreement.
The agreement signed by Alan Kyerematen, Ghana’s Minister of Trade & Industry and the Rt Hon Liz Truss MP, UK Secretary of State for International Trade, seeks to provide duty free and quota free access for Ghana and the same preferential tariff reductions for British exporters as provided by the arrangement that is currently in force.
A statement issued by Ghana’s Ministry of Trade and Industry on December 31, 2020 said “we intend over the next few weeks 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.”
According to the statement, both the UK and Ghana re-affirmed their shared ambition to further strengthen our partnership in the future and to work with the West African partners to make progress towards a regional agreement.
“Today we are pleased to announce that we have reached a consensus on the main elements of a new trade agreement. This provides the basis to replicate, the effects of the existing trade relationship between the UK and Ghana – a relationship which is underpinned by our strong people to people connections and has driven economic growth, created jobs, and inspired creativity and innovation in both our countries,” the statement noted.