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Thursday, 30 July 2009

EU trade relations with Ghana

The government of Ghana has stated that it will not sign any partnership agreement that will liberalise the country’s trade regime to its detriment. Making reference to the Economic Partnership Agreement (EPA) with the European Union, the Minister of Trade and Industry, Ms Hannah Tetteh, said the government would not sacrifice the interest of the nation in the agreement. She gave the assurance when her ministry took its turn at the “Meet-The-Press” series in Accra, during which she outlined the programmes and projects it was undertaking. Many advocacy groups, such as the Third World Network (TWN), ISODEC and the Ghana Trades Union Congress (TUC), have waged a vigorous anti-EPA campaign, cautioning the government against signing the agreement because it would be detrimental to the nation’s interest and, as they put it, “the devil is in the detail” of the agreement. However, the government, having weighed the pros and cons of the agreement, went ahead to sign the Interim EPA (IEPA) with the EU in December 2007, allowing Ghana to have access to the EU market for a five-year period, beginning January 1, 2008, after which the country will be obliged to eliminate duties on 80 per cent of its imports from the EU over a 15-year period.
Source: Graphic Ghana
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