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Brexit or Not: Ghana still needs a decision on EPAs- Hannah Tetteh

The UK’s decision to exit the EU has sparked public conversation as to whether Ghana will still have to sign the Economic Partnership Agreement or not.

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Foreign Affairs Minister, Hannah Tetteh play

Foreign Affairs Minister, Hannah Tetteh

Foreign Affairs Minister, Hannah Tetteh says  Ghana will still have to take a decision on whether to sign the Economic Partnership Agreement with the European Union or not.

The UK’s decision to exit the EU has sparked public conversation as to whether Ghana will still have to sign the Economic Partnership Agreement or not.

Speaking on the issue, Hannah Tetteh said Ghana  has a deadline of October, 2016 to sign the Economic Partnership Agreement, failure of which will mean that non-traditional exports to EU countries will attract taxes.

“ We will have to take a decision on the EPAs as soon as possible, because clearly there is a deadline. We are currently engaging in stakeholder discussions to ensure that all aspects are taken into consideration. But a decision will have to be made soon.”

READ MORE: Ghana- Britain trade talks begin immediately- Hannah Tetteh

Signing the EPAs will ensure that exports from Ghana to the EU will be duty-free. But that will grant the same opportunities to similar products from EU countries, opening the Ghanaian market to EU products. This  possibility has alarmed Ghanaian businesses due to possible unfair competition from EU companies.

However, the UK’s exit from the EU means that Ghana will get the chance to negotiate a more beneficial trade partnership agreement with one of the biggest economies in the world.

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