Companies in the United Kingdom (UK) are rejecting imports from companies in Ghana.
The development according to reports, is due to the lack of an agreed trade agreement between the two countries post the UK’s exit from the European Union (EU).
Ghana and the United Kingdom on December 31, 2020, signed a new trade agreement that sought to provide duty-free and quota-free access for exporters of both countries.
The trade agreement was reached between Alan Kyerematen, Ghana’s Minister of Trade & Industry and the Rt Hon Liz Truss MP, UK Secretary of State for International Trade via a video conference.
But the UK in a surprise move backtracked from the duty-free and quota-free trade agreement reached with the Government of Ghana.
The UK government norvanreports reported at the time, went back to amend statements covering the agreement stating that, talks were still ongoing with the Ghanaian government and that the trade pact will not be in force by January 1, 2021 as expected by both countries.
Exports of banana from Ghana to the UK for instance, have so far declined by 20 per cent due to the new development. The situation is expected to get worse in the coming weeks if the two governments do not quickly agree to a trade deal.
As indicated by the 3 leading banana exporters in the country – Golden Exotics, Volta River Estate and Blue Skies – buyers of their products in the UK have threatened to look to other exporters in countries with trade agreements with the UK.
