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Friday, 13 September 2013

Ghana: Decision on EPA by end of October

The Government of Ghana will by end of October (2013) declare its stance on the European Union-Economic Partnership Agreement (EU-EPA). This has been recently disclosed to the Economy Times in Accra by the Ghanaian Deputy Minister of Trade, Nii Lante Vanderpuje.
A special committee set up by government to determine whether Ghana should sign or not the EPA will submit their report to Cabinet for an informed decision by end of October. Vanderpuje added that the government is not rushing to conclude on the agreement until the committee has presented their final report.
In July (2013), the government of Ghana announced a round of consultations with the main relevant stakeholders on the signing of the EPA with the EU.
It is believed that Ghana’s declaration will be determined largely by the ECOWAS position on the trade agreement as the sub-region is yearning for a collective agreement which will favour all member States. It is expected for the government to take a collective decision on Ghana’s stance on the EPAs with Ivory Coast and Nigeria as well.
For well over 30 years, exports from the ACP countries were given generous access to the European market, under different trade and development agreements. Yet, preferential access failed to boost local economies and stimulate growth in ACP countries and the proportion of EU imports, Economy Times notes.

Source: Economy Times