September 12, 2021

Bilateral Trade Agreements Ghana

Filed under: Uncategorized — dpk3000 @ 10:35 am

Under the Agreement on Technical Barriers to Trade (TBT), members of the World Trade Organization (WTO) are required to notify the WTO of technical rules and conformity assessment procedures that may affect trade. Notify U.S. (www.nist.gov/notifyus) is a free web-based email registration service that collects important information about draft regulations and conformity assessment procedures and makes it available for review and comment. Users receive personalized electronic notifications when new notifications are added by country and sector of interest, and can also request full texts of the regulations. This service and associated website are managed and operated by the WTO TBT Inquiry Point, which is located in the National Institute of Standards and Technology, which is part of the U.S. Department of Commerce. Describes the bilateral and multilateral trade agreements in which this country participates, including with the United States. Contains websites and other resources for U.S. companies to get more information on how to use these agreements. Ghana is a member of the World Trade Organisation (WTO) and a signatory to the ACP-EU Partnership Agreement which replaced the Lomé Convention, a trade and assistance agreement between the European Union and 46 former European colonies and dependencies in Africa, the Caribbean and the Pacific (ACP group). Ghana has concluded a Preliminary Economic Partnership Agreement (EPA) with the EU which, once implemented, will allow duty-free and quota-free access to the European market.

Ghana is also entitled to duty-free access to the U.S. market, in accordance with the U.S. African Growth and Opportunity Act (AGOA). Ghana has completed three IMF audits since the start of the program, but Ghanaian authorities face challenges in dealing with their massive public debts, mainly in the energy sector, estimated at between $1.5 billion and $2 billion. Ghana concluded a $547 million Millennium Compact (MCC) in 2012 and a second five-year, $498 million Pact for the MCC, focused on the energy sector, entered into force on 6 September 2016. Ghana, one of the fastest growing economies in the world a few years ago, slowed to 3.9% in 2015 from 7.1% in 2013. . . .