The Head of the European Union (EU) Delegation to Ghana, Ambassador William Hanna has strongly rebuffed assertions that Ghana will be flooded with European goods as the Economic Partnership Agreement (EPA) is fully implemented.
Ghana ratified the agreement in August while the EU did same in December.
However, opponents of the EPA have pointed out that the pact will be injurious to Ghana’s economy as it will open the gate for European products to flood Ghana’s market.
But disputing the assertion, William Hanna insisted that the EPA is beneficial to Ghana compared to other trade agreements with other nations that do not limit some products from entering the country.
“Look at Ghana’s trade? Look at where Ghana is importing from now, it is importing products from China. Look at its trade balance with China, it is massively importing from China,” he stressed.
Mr. Hanna insisted that the pact would rather bring immense benefits to Ghana unlike what opponents are saying.
He pointed out that a careful analysis of the trade figures will show that other countries have rather benefited from Ghana in trade.
“Do you think we and Europe are going to compete with China on production of goods, not at all? Where we are competitive is in things like producing machinery for wood. We have developed in those areas so that’s where we are competitive, inputs for production”
He stated that the products that will be exported from the EU to Ghana under the agreement will rather help Ghana to improve its agro processing industry.
“This agreement is meant to encourage Ghana’s production. We are keen to encourage transformation. The country has made a choice,” he said.
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By: Lawrence Segbefia/citibusinessnews.com/Ghana