Ghana and the United Kingdom are scheduled to sign a new temporary trade partnership agreement on Friday, October 1. The Agreement aims to reinforce both Ghana and the United Kingdom’s strong desire to strengthen their long-standing trade and economic partnership by assuring tariff-free commerce in both markets.
It also sets a new framework for collaboration between Ghana and the United Kingdom, which will help Ghana achieve long-term economic success. Ghana’s Minister of Trade and Industries Alan Kyerematen revealed the commencement date on Wednesday during the inauguration of the new Governing Board of the Ghana Standards Authority. (G.S.A)
As Ghana recovers from the devastating impacts of the COVID-19 pandemic, the Ghana-UK Trade Partnership Agreement will assist firms in improving their processes, encouraging market innovation, and creating job opportunities.
Market integration arrangements including the EU-Ghana Economic Partnership Agreement and the African Continental Free Trade Area (AfCFTA), have been made according to the Trade Minister, who announced the inauguration date. As a result, the newly-installed Board of the Ghana Standards Authority was urged to support the government’s major programs.
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Alan Kyerematen added, “We’ll also start implementing the Ghana-UK interim trade partnership and investment agreement on October 1.” Prof. Felix Charles Robertson thanked the President on behalf of the Board members for his confidence in them. Once the deal takes effect, Ghanaian items such as bananas, canned tuna, and cocoa would have tariff-free access to the United Kingdom.
Mineral fuels, oil, and cocoa are among Ghana’s most important exports to the United Kingdom. Machinery, chemical products, textiles, and mechanical appliances are its main imports from the United Kingdom. The Ghana Standards Authority’s freshly inaugurated six-member Governing Board will serve for four years before being replaced.
The newly inaugurated members are Dr. Opoku Ware Ampomah, Professor Alexander Nii Oto Dodoo (Director-General), Professor Felix Charles Mills Robertson (Chairman). Other members include Dr. Alex Ampofo Donkor, Mark A. Taylor, and Iddrisu Abdulai