Trade Agreements Ghana

“What we have heard anecdotally from the Ghanaian side,” says another person familiar with the negotiations, “is that they are very reluctant to abandon the West African bloc.” According to them, this “will ensure that the West African Economic Community remains able to trade without additional barriers.” If Ghana signed an agreement with the UK that would liberalize all trade and give the country lower tariffs than its neighbors, they said that “its neighbors would have little choice but to introduce a higher level of border controls.” The government`s website, which shows trade agreements under discussion, however, states that if “no agreement is reached by 31 December 2020”, trade will take place under WTO conditions. In 2017, Liam Fox, then trade minister, promised to avoid tariffs against countries like Ghana if Britain left the EU. However, in the absence of an interim agreement, Ghana`s main exports will face new tariffs on 1 January, including 12.5% for bananas, 20% for its tuna, 8% for cocoa paste and 6% for cocoa butter under the UK`s Global Tariff (UKGT). In addition, Ghana has had the advantage of learning something about trade cooperation by being part of the Economic Community of West African States (ECOWAS). Ghana now wants to conclude an emergency agreement with the UK so that the country`s banana and pineapple producers do not suffer tariffs that take them out of the UK market and make these and other products rarer, such as tuna and cocoa. But she has not yet heard of her proposal. Lack of time, elections and regional trade tensions have made it difficult to agree on a deal. “We believe it is necessary to put in place a transitional regime when it takes time to negotiate a free trade agreement,” they said. British officials said that “Ghana will not sign, mainly for regional policy reasons,” according to another person familiar with the negotiations. Asked about the trade deal it would have with Ghana early next year, DIT said it would not comment on the live negotiations. Discussions with Ghana “are ongoing to ensure business continuity after the transition period,” a LA spokesman said.

Discover new ways to expand your international presence. Canada`s broad (and growing) trade network provides Canadian businesses with preferential access to various markets around the world. On this page, you will find out about Canada`s Free Trade Agreements (FTAs), Foreign Investment Promotion and Protection Agreements (FIPA), Plurilateral Agreements and World Trade Organization (WTO) agreements. Note: The texts of the Treaty on this page are for information purposes only; The official texts of the treaty are published in Canada`s Treaty Series. Officials from britain`s Department of International Trade and Ghana`s Department of Trade and Industry have in recent weeks informed businesses in both countries that a trade deal will not be sealed this year. The Economic Partnership Agreement (EPA) with West Africa covers goods and development cooperation. The EPA also provides for the possibility of continuing negotiations in the future on sustainable development, services, investment and other trade-related issues. Ghana is a member of the World Trade Organisation (WTO) and a signatory to the ACP-EU Partnership Agreement which replaced the Lomé Convention, a trade and assistance agreement between the European Union and 46 former European colonies and dependencies in Africa, the Caribbean and the Pacific (ACP group). .

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