UK-Ghana Interim Trade Partnership Agreement has been saved
UK-Ghana Interim Trade Partnership Agreement
Trade and market access
Brexit pulse alert: respond to the business impacts of Brexit
5 February, 2021
The UK government has agreed an Interim Trade Partnership Agreement with Ghana to ensure that firms in both countries can continue to trade on largely the same terms as they did while the UK was an EU member state.
Top Brexit impacts
The agreement provides confidence to businesses that trade between the UK and Ghana can continue on largely the same terms as secured in the EU-Ghana Economic Partnership Agreement. Total trade in goods and services between the UK and Ghana was worth over £1 billion in 2019.
The UK Government stated: “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 new Agreement reaffirms the deep interest of both Ghana and the UK to strengthen their longstanding trade and economic relationship”.
Actions for business
Businesses trading within the UK-Ghana corridor will be able to capitalise on preferential terms of trade and plan for the future with greater confidence. Once published, firms will have some time to examine the legal text of the agreement, which will be subject to domestic Parliamentary procedures before coming into force. Businesses should be mindful that this interim agreement will require renegotiation after an unspecified period.
To discuss specific support with your Brexit preparations based on this latest development contact: Deloitte Brexit Insight