The United Kingdom has signed a trade partnership agreement with Ghana, in what has been described as a significant milestone for both nations.
The agreement was signed by UK International Trade Secretary, Liz Truss, and Ghana`s Minister for Trade and Industry, Alan Kyerematen, in London on March 2, 2021.
The deal secures tariff-free access to the UK market for Ghanaian products such as bananas, tuna and cocoa. It also ensures that UK businesses can benefit from lower tariffs and improved market access when exporting to Ghana.
This trade partnership agreement is the first of its kind between the UK and an African country since the UK left the European Union in January 2021. It is expected to boost trade between the two nations and pave the way for similar agreements with other African countries.
Speaking after the signing of the agreement, Truss said: “I am delighted to sign the UK’s first trade agreement with a nation in Africa, and look forward to working with Ghana to deepen our trade relationship even further.”
Kyerematen added: “This agreement will secure duty-free and quota-free access for Ghana to the UK market, improve market access for Ghanaian products, promote value addition to our primary products and enhance technical cooperation and capacity-building support for Ghana.”
The trade partnership agreement also includes provisions to support sustainable development in Ghana, such as improving working conditions and protecting the environment.
The signing of this agreement comes at a crucial time for both the UK and Ghana, as they seek to recover from the economic impact of the COVID-19 pandemic.
Overall, this trade partnership agreement between the UK and Ghana is a positive step forward for both nations, and highlights the importance of international trade in promoting economic growth and development.