Ghana and UK reach agreement to provide duty free economy

Ghana and the United Kingdom have reached a consensus on the main elements of a new trade agreement.

This consensus was reached after Mr Alan Kyerematen, Ghana’s Minister of Trade & Industry and the Rt Hon Liz Truss MP, UK Secretary of State for International Trade met via video conference Thursday December 31.

A statement said “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 added.

“The intention is for the Agreement 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.

“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.

“We re-affirm our 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.”