Last reviewed 23 February 2021
Ghana and the UK have reached a consensus on the main elements of a trade agreement that would replicate the effects of the trade relationship between the two which existed when the UK was a member of the European Union.
The new Interim Ghana-UK Trade Partnership 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.
It will enter into effect following the completion of relevant internal procedures required in both Ghana and the UK.
The Department for International Trade (DIT) said: “The new Agreement reaffirms the deep interest of both Ghana and the UK to strengthen their longstanding trade and economic relationship. The Agreement 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 news was particularly welcomed by the Fairtrade Foundation.
Head of Policy Tim Aldred explained that the impact on Fairtrade banana sales of the UK leaving the EU trade agreement had been a major concern as it meant that damaging tariffs had come into effect.
“We look forward to seeing the detail of the agreement, and the timetable for the restoration of tariff free trade,” he said. “We are keen to see a trade relationship which supports fair and sustainable trade, for the benefit of Ghana and the UK.”
Mr Aldred said that the Foundation will be looking for a deal consistent with regional trade integration so that Ghana is supported in building up markets closer to home as well as further afield.