Ghana has had a long history of trade relationship with the EU, the country announced an iEPA with the EU in 2007, pending further negotiations on a full comprehensive EPA. International Economics is providing technical assistance alongside Consortium Partner, GOPA Consulting, to improve economic governance and business environment and to maximise the benefits of the EPA for Ghana.
Technical Assistance to the Ministry of Trade and Industry in the implementation of the Stepping Stone Economic Partnership Agreement (iEPA)
The Project at A Glance
What We Found
Through the iEPA, Ghana enters into a comprehensive trade agreement with the EU that requires a substantial amount of deliberate efforts within both the public and the private sector. This means to effectively implement the agreement, address potential negative effects in a timely manner and give impetus towards the realisation of the country’s enormous export potential, thereby making the agreement beneficial for the country in the long run. “Compete Ghana” is an EU-funded programme designed to contribute to improved economic governance and business environment and to maximise the benefits of the iEPA for Ghana.
The aim of our team is to see an increased share of products “Made in Ghana” on the EU market, thanks to the opportunities created by the iEPA. As a result of the project, Ghana’s Government should be able to implement and monitor the iEPA as well as guide and support the expansion and diversification of Ghanaian exports. Through the project, we want to support the MoTI to lead and guide all relevant stakeholders to make this vision a reality.
Our Strategy and Impact
No trade agreement guarantees new trade flows and sustainable development by default, but rather create a legal framework and provide an institutional basis. It is up to the signatory countries – the government and private sector – to carry through reforms and make use of new market opportunities.
The project aims to provide such support and team’s activities are logically structured around four components:
- Component 1 aims to equip the EPA Secretariat within MoTI with the technical knowledge and tools to transpose the agreement into reality. Under this component, the project will support mainstreaming the agreement and put an emphasis on institutional strengthening and capacity building.
- Component 2 focuses on the design of export promotion measures to enable the Ghanaian private sector to take advantage of the export opportunities provided by the iEPA.
- Component 3 reflects on the iEPA commitments undertaken by Ghana and the needed reforms.
- Component 4 aims to install a public–private dialogue mechanism to jointly monitor the implementation and the impact of the agreement.
Our Core Solutions
As businesses seek to expand operations into new markets, the need to explore global supply chains and understand the international regulatory framework becomes crucial. At International Economics Consulting, we build tailor-made strategies for both import and export-oriented business solutions.