Ghanaian exports to UK still attracting tariffs despite trade agreement

Exports from Ghanaian firms to the United Kingdom (UK) are still attracting duties and tariffs despite a trade agreement between both countries.

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Ghana and the UK on February 4, 2021, signed an interim trade agreement to provide duty-free and quota-free access for Ghanaian exporters to the UK market and preferential tariff reductions for UK exporters to the Ghanaian market.

The interim trade agreement signed on February 4, was on the back of an earlier trade agreement signed on December 31, 2021 which was backtracked by the UK.

Ghanaian exports to UK still attracting tariffs despite trade agreement
Ghanaian exports to UK still attracting tariffs despite trade agreement

The continuous imposition of tariffs on Ghanaian exports to the UK market, some trade analysts have pointed out, is due to the non-completion of relevant internal procedures required in both countries.

Trade analysts are therefore calling for the quick completion of the relevant internal procedures to pave way for the implementation of the trade agreement as the prolongment of tariffs paid by Ghanaian firms on exports could result in layoffs of employees and the downsizing of exports.

Source: Norvanreports.com

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