On March 2, 2021, the UK signed a trade partnership agreement with Ghana in London, securing tariff-free trade worth £1.2 billion. The deal, signed by International Trade Secretary Liz Truss and Ghana’s Acting High Commissioner Peprah Ampratwum, reinstates terms from their EU-era economic partnership, fostering stronger economic and cultural ties.
Benefits for Ghanaian Exports
The agreement grants Ghanaian products like bananas, tinned tuna, cocoa, mineral fuels, and fruit tariff-free access to the UK market. Ghana’s top exports to the UK in 2019 included cocoa and fish preparations, supporting local jobs and businesses.
Boost for UK Exports
From 2023, UK exports such as machinery, electronics, chemical products, and textiles will benefit from tariff reductions in Ghana. In 2019, UK exports to Ghana totaled £652 million, with clothing and mechanical appliances among the top categories.
Official Statements
Liz Truss celebrated the deal, stating, “This agreement provides certainty for businesses in Ghana and strengthens UK-Ghana ties. We aim to deepen our relationship and pursue a broader West Africa trade deal.” Minister for International Trade Ranil Jayawardena added, “The deal supports British shoppers’ favorite products and paves the way for economic growth post-Covid-19.” UK Minister for Africa James Duddridge noted, “This boosts our £1.2 billion trade, enabling businesses to scale up and create jobs.”
Virtual Ceremony Highlights
Ghana’s Minister Designate for Trade and Industry, Alan Kyerematen, joined Truss via video call to mark the signing at the Department for International Trade. The ceremony underscored the UK’s commitment to free trade and Ghana’s role as a key African partner.
UK’s Post-Brexit Trade Success
The UK-Ghana deal marks the 65th non-EU trade agreement secured by the UK, covering £217 billion in 2019 trade value. Combined with the EU agreement, the UK’s trade pacts accounted for £890 billion, or 63% of its total trade in 2019, advancing its post-Brexit global trade strategy.
Economic Impact and Future Goals
The agreement supports recovery from the Covid-19 pandemic by fostering innovation, job creation, and economic growth. It sets a foundation for expanded UK-West Africa trade, aiming to enhance prosperity and living standards in both nations.
