Moving People

News

/ News / Article

  • ghanaweb

Britain signs £1.2 billion trade agreement with Ghana





Britain has secured a trade deal worth £1.2 billion with Ghana, International Trade Secretary Liz Truss has announced.


A joint statement from the two countries said: “Today Ghana and the UK are pleased to announce that they have finalized 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.”


It 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.


Ms Truss’s department 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 agreement with Ghana is expected to be signed shortly and comes ahead of anticipated pacts with Australia and New Zealand.


“There is a race between Australia and New Zealand,” a senior Department of International Trade official said.


“They should both be around Easter, maybe earlier if it goes well.”

2 views
construction-image1.jpg

Subscribe and keep up to date with all the latest news from Oakmark

Subtle Shapes Transparent
WEST AFRICA'S NO.1 ECONOMIC AGENTS

Oakmark Global Vision provides a bespoke business package to established corporate bodies, investors, and entrepreneurs who desire to enter the West & Pan African market. Find out more >

© 2021 Oakmark Global Vision Ltd - All Rights Reserved.

UK Company No. 07634879 / Nigeria Company No. RC 1288232

Regional Office

International Office

1 Kandi Close, Off Aminu Kano

Crescent, Wuse 2, Abuja F.C.T

Nigeria 

+234 -(0)- 929 207 02

+234 (0) 704 497 6500

info@oakmarkglobalvision.com

King Court, 17 School Road

Hall Green, Birmingham

United Kingdom  B28, 8JG

+44 (0) 121 244 1814

+44 (0) 746 625 2505

info@oakmarkglobalvision.com

 Oakmark Global Vision Limited