Ghana Agress On A Trade Deal Worth £1.2 Billion With Great Britain

The Secretary of State for International Trade for the United Kingdom (UK), Liz Truss has announced that the British government has signed a trade partnership deal worth £1.2 billion with the government of Ghana.

She made this disclosure in a tweet via her Twitter account.

A joint statement from the two countries said: “Today Ghana and the UK are pleased to announce that they have finalised negotiations on a new Interim Ghana-UK Trade Partnership Agreement. This 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.

“The Agreement will enter into effect following the completion of relevant internal procedures required in both Ghana and the UK.”

This development comes after negotiators finalized the outline of a deal on December 31.

Since then both sides have been working to come to an agreement on the finer details of the pact.

Speaking on the essence of the new agreement between the two countries, the joint statement 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 the African States within the context of the African Continental Free Trade Area. The Agreement further underscores their shared ambition to enhance relations between the UK, ECOWAS and African States more broadly.”

The UK government’s Department for International Trade under the leadership of Lizz Truss has signed more than 60 trade deals over the past 18 months- more than any country has ever achieved within the same time period.

At the start of the year, the Minister outlined a bold vision in the House of Commons to turbocharge the UK’s trade with international partners.

She said: “In under two years we have agreed on trade deals covering 63 countries, plus the EU that account for £885billion.

“That is unprecedented. No other country has ever negotiated so many trade deals simultaneously.

“In 2021 we will be adding to these deals.”

The deal, however, is expected to be signed shortly and comes ahead of anticipated pacts with Australia and New Zealand.

By Kwesi Appiah

Appiah Kwesi Anokye Dennis Jnr, professionally known as Kwesi Appiah is a Ghanaian celebrity blogger and writer.

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