Brexit to affect Ghana-UK trade relation

 The UK's decision to leave the European Union will impact the trade between the two countries, Ghana's Minister of Foreign Affairs Hannah Serwaa Tetteh said on Friday.

The British people voted to leave the EU in a landmark referendum.

Results showed the 'Leave' campaigners won the referendum with 52 percent as against the 48 percent of the 'Remain' campaigners.

Tetteh said Ghana would have to consider the negotiation of bilateral agreement with the UK following Britain's exit.

"Even though Britain has not formally exited the EU, and the UK remains bound by previous agreements signed under the EU, Ghana will immediately start talks with the UK on a bilateral trade agreement," Tetteh told Citi Fm, a local radio in the capital.

Ghana is currently the UK's fifth largest trade partner in sub-Saharan Africa with trade reaching 1.3 billion pounds, according to recent statistics.

Over the past year, the UK provided well over 100 million pounds in bilateral and multilateral development assistance to Ghana, focusing on health, education, governance and economic development.

She said until Britain formally exited the EU, the trade arrangement would continue to apply.

"What we have to do now is to watch how the rest of the EU reacts to this. Because we don't know whether or not this is going to trigger similar calls for other EU countries which would have even more significant implications than just the Brexit vote

source : xinhua