Cocoa constitutes half of Ghana’s EU exports

The Head of the European Union (EU) Delegation to Ghana, Diana Acconcia, has said cocoa represents about 50 percent of the country’s total exports to the union, with almost half of the cocoa products processed.

Speaking to manufacturers at a forum in Accra, Ms. Acconcia said the EU was Ghana’s second-largest trading partner last year, adding that the trade relation Ghana has with the EU is quite different from others.

She explained that Ghana is able to export most of its cocoa products into the EU processed as a result of the investment the union has made in the country’s manufacturing sector, which has also created jobs for the youth.

She said although most of Ghana’s trade is currently outside the African market, with the start of the African Continental Free Trade Area (AfCFTA) agreement, the country is now rightly focused on the African market.

However, she pointed out that the EU market remains important for Ghana’s quest to boost exports.

“The fact that Europe is the first importer of food in the world, including Africa, is good potential for Ghana, especially now that the Economic Partnership Agreement (EPA) has fully been implemented, making it easier for Ghana to get complete duty-free access to the European market.”

The implementation of the interim Economic Partnership Agreement (iEPA) between the European Union and Ghana took off last week.

This means the EU market will accept goods from Ghana on the duty-free quota-free access policy, whilst the country also liberalises access to its market for 80 percent of the total volume of EU exports.

Source: business24.com.gh

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