• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Government to liberalise tariffs for 80% of EU exports to Ghana

4 years ago
in Business, Editor's pick, highlights, Home, home-news, latest News, Trade
2 min read
0 0
0
64
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Government to liberalise tariffs for 80% of EU exports to Ghana

Government has started the implementation of the Ghana-EU Interim Economic Partnership Agreement (IEPA) effective July 1, 2021.Accordingly, effective July 1, 2021, and under the terms of the IEPA, Ghana will progressively liberalise tariffs for 80 percent of the total volume of exports from the EU to Ghana, with cumulative tariff cuts for approximately 22 percent of applicable tariff lines in 2021, 50 percent by 2024 and 100 per cent by 2029.

This was announced in a joint statement between Ghana and the European Union represented by the Executive Vice-President and Commissioner for Trade of the European Union, Valdis Dombrovskis, and Mr Alan Kyerematen, Minister of Trade and Industry.

The statement said the IEPA covered trade in goods only and secured duty-free quota-free access to the European market for Ghanaian goods in exchange for progressive tariff liberalisation for EU exports into the Ghanaian market.

It said key elements of the Agreement included duty-free quota-free access to the EU for all imports from Ghana except arms and ammunition.

The statement also announced the asymmetric and gradual opening of 80 per cent of Ghana’s market to EU goods, taking full account of the differences in levels of development between Ghana and EU.

It said Ghana had commitments from the EU and its Member States to fund the EPA Development Programme and strengthen administrative and customs cooperation to facilitate trade development.

RelatedPosts

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

The EU is Ghana’s largest trading bloc and is a significant market destination for many of the top non-traditional horticultural exports, including processed cocoa (cocoa paste, butter, and powder); processed fish and seafood; pineapples; bananas; yams; mangoes; cashew nuts; fruit juice; and natural rubber.

Read: FBN Bank posts 75% CAR; reduces NPLs by 11%

Ghana’s export to the EU market is about 40 percent of the country’s total annual exports.

After initialling the IEPA in November 2007, and since the ratification of the Agreement in December 2016, the EU maintained 100 per cent duty-free, quota-free access to the EU market for exporters of Ghanaian products.

Ghana’s main annual imports from the EU are machinery; vehicles (light and heavy duty); chemicals and allied products; metals; animal products and processed foods.

The statement said about 40 percent of Ghana’s top 20 imports from the EU were machinery, equipment, and parts and access to cheaper machinery and new technology was expected to enhance Ghana’s industrialisation.

It said heavy-duty and light transport vehicles also accounted for about 38.7 percent of the top 20 imports from the EU into Ghana.

“It is to be noted that machinery and equipment (capital goods) imported for production in Ghana from the EU will be liberalised. However, vehicles are excluded from the liberalisation,” it added.

Although the IEPA was concluded in December 2007, and ratified by Ghana in 2016, the implementation of the tariff liberalisation schedule was delayed pursuant to technical adjustments agreed between the EU and Ghana.

Tags: Executive Vice-President and Commissioner for Trade of the European UnionghanaGhana-EU Interim Economic Partnership Agreement (IEPA)Government to liberalise tariffs for 80% of EU exports to GhanaMinister of Trade and IndustryMr Alan KyerematenNigeriaprogressively liberalise tariffs for 80 percent of the total volume of exports from the EU to GhanatradeValdis Dombrovskis
No Result
View All Result

Highlights

Osaka and Keys Advance to Quarter-Finals at Canadian Open

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Trending

Features

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

August 6, 2025

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash Ghana...

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

August 6, 2025

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

August 6, 2025

Osaka and Keys Advance to Quarter-Finals at Canadian Open

August 6, 2025

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.