Ghana, UK agree to remove trade and Investment barriers

GHANA – The governments of Ghana and the United Kingdom (UK) are keen on developing strategies to remove barriers that affect trade relations between the two countries.

The decision was made at the third UK-Ghana Business Council meeting held at the Presidency (Jubilee House) in Accra in October this year.

During the meeting, the UK and Ghana governments reached an agreement on six priority sectors: agri-processing, financial services, textiles/garments, pharma, digital and extractives as the main areas of corporation between them.

UK Parliamentary Under Secretary of State at the Department for International Development (DFID), Baroness Elizabeth Sugg, stressed her country’s determination to remove all forms of trade and investment barriers that exist between them and Ghana.

Speaking under the theme: “Delivering Mutual Prosperity”, Baroness Sugg said both Ghana and the UK have a fine opportunity to use the 3rd Council meeting to set the tone for improved trade relations between their two respective countries.

She further indicated “as Ghana moves beyond aid, the UK is shifting its focus away from large-scale resource transfer towards technical assistance.”

On his part, Vice-President Bawumia enumerated a number of initiatives government had and continued to roll out all in an attempt to formalize the Ghanaian economy.

 Some of the initiatives highlighted by Bawumia include the introduction of the digital addressing system, the issuance of national biometric identity cards and mobile money interoperability.

 These efforts, he said, had set the stage for Ghana to engage the rest of the world for greater trade and investment.

The UK-Ghana Business Council (UKGBC) is a biannual high-level meeting between top UK and Ghana government officials and ministers.

The meeting is used as a vehicle to move forward a new strategic economic partnership between the UK and Ghana that focuses on increased trade and investment.

UKGHC also focuses on the development of priority sectors of the Ghanaian economy that leads to job creation and sustained economic growth.

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