The Business & Financial Times
July 6, 2021
Rather an opportunity for manufacturing sector
Head of the European Union Mission to Ghana, Ambassador Diana Acconcia, has debunked assertions that the coming into force of the interim Economic Partnership Agreement (EPA) with Ghana will undermine the purpose of the African Continental Free Trade Area (AfCFTA), saying, the country’s trade pact with Europe will rather boost the capacity of the manufacturing sector to produce for the continent.
Her conviction is hinged on the fact that the EPA will see Ghana progressively reduce its tariffs to zero for 78 percent of its imports from the EU by 2029, which will significantly affect the removal of tariffs on intermediary goods and machinery from the EU, thereby, ensuring cheaper inputs for the manufacturing sector.