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Wednesday, 27 July 2016

Ghana to Sign Interim EPA with EU

Dr. Ekwow Spio Garbrah, the Minister of Trade and Industry, has revealed the cabinet’s intention to sign the interim Economic Partnership Agreement (EPA) with the European Union (EU). He says, “It is because the EPA agreement itself which the European Union signed with ECOWAS as a group required all members to sign to become valid.” Although Gambia and Nigeria refuses to sign the agreement, Dr. Spio Garbrah explains that Ghana may suffer severe sanctions that will impact on processing companies especially Pioneer foods and Cocoa processing companies that trade with the EU. With that the cabinet has decided to sign the interim agreement so Ghanaian exporters can continue to enjoy special privileges. He again noted that the fishing industry will collapse if the agreement is not signed. The deadline for the signing of the agreement is 1st of October this year. “The Europeans also have to agree to the fact that Ghana needs only an interim agreement. So there is a little bit of collaboration and coordination, consultation and diplomacy that is going to go back and forth over the next few months,” he said.

Source: footprint2africa.com