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UK aims for ''record high'' trade with Ghana

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Wednesday, 07 September 2016

UK aims for ''record high'' trade with Ghana

As a result of Brexit, the UK is seeking out new trading partners and has set itself the task of achieving ''record high'' trade with Ghana by the year 2020. A UK/Ghana Chamber of Commerce has been formed to drive that goal, and according to British High Commissioner, Jon Benjamin, Ghana would have to address regulatory bottlenecks, including licensing rules, customs procedures and land registration issues, to make it possible. Trade between the two countries fell from £1.3 billion in 2013 to £1billion in 2014, and according to the High Commissioner, it does not look like 2015 figures will be much higher, adding that “we still aim for that overall figure to recover and, indeed, reach a record high by 2020.” French Economist, Jacques Berthelot, argues that Brexit does matter for Ghana, estimating that UK imports from Ghana in 2015 accounted for 24.1% of EU imports in value.

Source: freshplaza.com

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