The UK and Ghana have signed a Trade Partnership Agreement securing tariff-free trade between the two countries and providing a platform for greater economic and cultural cooperation. The deal supports a trading relationship worth £1.2bn and reinstates the terms of the economic partnership agreement between the two sides when the UK was part of the EU.
It means Ghanaian products including bananas, tinned tuna and cocoa will benefit from tariff-free access to the United Kingdom. UK exports are also in line to benefit from tariff liberalisation from 2023, including machinery, electronics and chemical products.
The agreement was signed by Secretary of State for International Trade Liz Truss and Ghana’s Acting High Commissioner to the UK Peprah Ampratwum, at the Department for International Trade in central London.
Secretary Truss was joined on a video call by Minister Designate of Trade and Industry Honourable Alan John Kyerematen.
International Trade Secretary Truss said: “I am delighted to be able to sign this deal with our friends and partners in Ghana. It provides certainty for businesses that provide vital jobs and livelihoods in Ghana, and it strengthens the ties between our two countries. We can now look forward to deepening and furthering our relationship in future, and working together to secure a broader agreement with the West Africa Region.”
UK Minister for Africa James Duddridge said: The UK and Ghana have a strong partnership and the signing of today’s agreement marks an important moment for boosting trade, worth £1.2 billion, between our two nations. With tariff free access for Ghana to the UK, it will enable businesses to scale up their operations, support innovation in markets and create jobs as we recover together from the coronavirus pandemic.”
British High Commissioner to Ghana Iain Walker said: “Today’s signing marks the next chapter of the UK-Ghana partnership strengthened through trade and economic growth. This agreement will support vital jobs and ensure certainty for businesses across our two nations. As we also see the rollout of the COVAX vaccine in Ghana, the deal comes as both countries continue to build back better in the wake of COVID-19.”
Ghana’s largest exports to the UK include crude oil, cocoa, fruits and vegetables, and fish. Its top imports include textile fibres, as well as medicinal, pharmaceutical and cleaning products from the UK. The agreement reaffirms the UK – Ghana trade and economic partnership strengthened through the UK-Ghana Business Council.