Last week, Ghana signed a new Trade Partnership Agreement with the United Kingdom worth $1.6Billion. The Minister for Trade, Hon. Alan Kyeremanteng disclosed that the Agreement will take the form of the Economic Partnership Agreement signed between the European Union and ECOWAS.
The Agreement is expected to provide a duty-free and quota-free access for Ghanaian goods to the UK market and preferential tariff reductions for UK exporters to the Ghanaian market. This will enable businesses trading within the Ghana-UK markets to capitalize on the exchange of goods and services at competitive rates.
Both governments expect the Agreement to help boost confidence amongst traders and to strengthen the existing trade and economic relationship between Ghana and the UK.