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Business News of Thursday, 16 February 2017


UK to push for free trade deal with Ghana

The Foreign Secretary of the United Kingdom, Boris Johnson has stated that bilateral trade relations with Ghana will not be affected as the UK prepares to finally exit the EU.

According to him, the UK intends to strengthen its trade ties with Ghana to help establish a free trade deal for mutual benefit.

Speaking to some selected journalists at the residence of the British High Commissioner in Accra, Mr. Johnson assured that the UK will expand its support and corporation with Ghana.

“As for our relations with Ghana, this is an opportunity to go a step further, what it will mean concretely is the chance to do a free trade deal. Let’s be clear, there are plenty of ways that our economies could merge together more closely. We have talked about investment.

I think one of the things Ghana could benefit from perhaps is more financial services helping here to get investments going in this country,” he said.
He observed that there are good products here in Ghana that are needed in Europe, hence should not attract tariffs.

“I have seen here in Ghana a bicycle made of bamboo. Why shouldn’t that come to the streets of London with zero tariffs?. Why should there be barriers to Ghanaian bamboo bicycles. So there are opportunities for us to develop our economies together,” he stressed.

Touching on other areas of concern, Mr. Johnson assured that the UK will continue to work with Ghana to counter terrorism.

He stated that the decision to exit the EU will not affect the country’s commitment to trade and counter terrorism.

“We may be leaving the EU but we are not leaving Europe so we continue to be very much involved in trade with our friends and partners in the EU and we will of course continue to be working together with governments.

A lot of the things that matter both to the UK and to Ghana whether its counter-terrorism or our collective security, we will continue to be a powerful voice for Ghana in Europe,” he maintained.

Meanwhile, Trade and Industry Minister Alan Kyerematen was hopeful the strengthening of bilateral trade between the two countries with attract investors to partner in the president One-Factory-One District policy.