Vice-Chairman Dr Mahamudu Bawumia and Mr James Duddridge, UK Minister for Africa, virtually co-chaired the fifth UK-Ghana Business Council (UKGBC).
A statement released by the British High Commission in Accra, copied to the Ghanaian News Agency, said the meeting had built UKGBC 2020, which has supported more than Â£ 223million in infrastructure investment in Ghana.
He said the UK government has announced a new Ghana Revenue Authority (GRA) support program and noted that the meeting reflected the achievements of the UK-Ghana partnership over the past year, including the support for the security sector following the recent visit of Mrs Priti Patel, UK Home Secretary.
The statement said since the last UKGBC meeting, the UK-Ghana Economic Partnership has supported more than Â£ 223million in infrastructure investments across the country, the largest UK infrastructure investment in the country. Ghana for a generation.
“This investment has significantly developed the country’s critical infrastructure, combining the support and expertise of the UK with Ghanaian skills and entrepreneurship to build roads, bridges, hospitals, water infrastructure, airports and l ‘expansion of the Kumasi market,’ he said.
The statement said Council members discussed progress on key projects emerging from UKGBC’s work, such as supporting job creation and building a sustainable industry in the automotive sectors. , clothing and pharmaceuticals thanks to the UK’s Â£ 12million JET program and continued construction of the Tema to Afloa road.
He said the Â£ 80.3million projects, backed by UKEF, would improve transport links across the country and ultimately in West Africa, while creating skilled jobs for Ghanaians. .
The statement said Mr. Iain Walker, the outgoing British High Commissioner to Ghana; Emma Wade-Smith, UK Trade Commissioner for Africa; Sir Graham Wrigley, Chairman of CDC Group and Louis Taylor, Managing Director of UK Export Finance also attended the Board.
From the Ghana side, Mr. Alan Kyerematen, Minister of Trade and Industry; Mr. Dominic Nitiwul, Minister of Defense; m
Joseph Osei Owusu, Minister of Public Enterprises and Mr. Yaw Osafo Maafo, Senior Advisor to the President.
He said delegates welcomed the signing of the UK-Ghana trade partnership agreement, recognizing it as the foundation for a stronger trading relationship ensuring duty-free access for products sold in stores. British, supporting jobs in Ghana and helping both countries to rebuild. better from COVID-19.
Speaking after the meeting, Mr Walker said: âToday’s fifth UK-Ghana Business Council UK recognized the long-standing partnership between our nations and the real progress we have made since the inception of the Council. in 2018.
âTogether the UK and Ghana have worked to encourage economic diversification, seen new investments in manufacturing and improved tax policy, and signed a trade partnership agreement that will support Ghana’s own trade priorities and investment and will ensure the strengthening of our mutual partnership. “
According to the statement, during the meeting, the UK government announced a new program to support Ghana’s Ministry of Finance and Revenue Authority to increase tax revenue and strengthen the country’s tax policy and administration.
Mr. Duddridge reiterated the UK’s full support for the African Continental Free Trade Agreement (AfCFTA) and again welcomed Ghana’s successful hosting of the AfCFTA Secretariat.
The statement said the two Council Presidents recognized the challenges and opportunities ahead as Ghana and the UK continue to tackle climate change and work together to build a cleaner and greener future.
Established in 2018, UKGBC functions as a high-level forum to promote bilateral relations and strategic partnerships between the Ghanaian private sector and its UK counterparts.
The aim is to promote trade and investment for the mutual benefit of each nation and improve economic growth.
The UK-Ghana Trade Partnership Agreement will provide Ghana with duty-free access to the UK and restore the terms of trade that applied until December 31, 2020.
The UK’s total trade with Ghana was Â£ 1.2 billion in 2019.
The agreement restores Ghana’s duty-free and quota-free access to the UK.
This will allow the UK to deepen its relationship with Ghana and pursue common interests.
BHM Construction International would be a civil engineering company specializing in airports and roads.
The major upgrade of the road from Tema to Afloa – border with Togo will be their first project in Ghana.
UKEF is the UK government’s export credit agency and a government department, working alongside the Department for International Trade in its strategy and operations.
Working with over 100 credit insurers and private lenders to help UK businesses access export finance – a special category of loans, insurance policies or bank guarantees that make international trade so easily and as safely as possible.
Held in Glasgow, Scotland, in November 2021, the COP26 summit will bring together parties to accelerate action towards the goals of the Paris Agreement and the United Nations Framework Convention on Climate Change.