Economic Partnership Agreement: Cote d’Ivoire overcomes Ghana’s Brexit effect

Economic Partnership Agreement: Cote d'Ivoire overcomes Ghana's Brexit effect

Following the Brexit Free Trade Agreement, which restructured the United Kingdom and C ഡിte d’Ivoire, the Ivory Government announced the beginning of two phases of tariff demolition with the United Kingdom (north of Great Britain and Ireland) as an extension of the economic partnership. Agreement with Europe.

“The Council has approved an ordinance implementing phases one and two of the tariff demolition framework within the framework of the Economic Partnership Agreement between C ഡിte d’Ivoire and the United Kingdom of Great Britain and Northern Ireland, as well as its Approval Bill,” said Minister CD Toko Toure, a government spokesman.

For this new configuration of a partnership agreement, with no customs fees between the two parties, 2305 tariff lines are of concern. The first two phases cover the periods 2019-2020 and 2021-2023.

Ghana is feeling the effects of Brexit

Unlike Ivory Coast, Ghana has not been able to quickly ratify the Economic Partnership Agreement with the United Kingdom since Brexit. The consequences began to affect the economy of this country. Ghanaian manufacturers say British companies have begun to reject imports from Ghana. Banana growers lost 20% of their exports to the UK. A situation that could increase to 50% in the coming months. Not to mention the possibility of layoffs at the country’s three banana export giants (Golden Exotics, Volta River and Estates), which employ about 5,000 workers, not to mention the indirect workforce.

This issue also applies to other countries in the Economic Community of West African States (ECOVAS) that have not explicitly ratified the Partnership Agreement with the United Kingdom, which is not part of the Partnership Agreement between the European Union (EU) and the African Caribbean. Pacific (Acp).

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