logo

25 July 2016

Ghanaian businesses to discuss BREXIT impact

BrexitThe World Trade Centre (WTC) Accra in collaboration with the International Chamber of Commerce (ICC) Ghana is spearheading a high-level executive business and networking meeting to discuss the implication of BREXIT on Ghana’s international trade.

The breakfast meeting scheduled for next week, 26th July 2016 in Accra dubbed “Ghana Business Day” would be under selected topics.
These include ‘Reducing the Cost & Time in doing business in Ghana’ and BREXIT: Implications for Ghana – UK Trade.’ The meeting is expected to bring together several discussants including business executives, industrialists, policy makers, diplomatic community and business owners.
Minister for Trade and Industry, Ekwow Spio-Garbrah, British High Commissioner to Ghana, Jon Benjamin and President of the Association of Ghana Industries (AGI), James Asare-Adjei are key speakers.

BREXIT, an abbreviation of “British Exit” mirrors Britain’s withdrawal from the European Union.
The withdrawal sparked some spontaneous reactions on global markets, including currencies, causing the British pound to fall to its lowest level in decades. Prime Minister David Cameron, who supported the UK remaining in the EU stepped down a few weeks ago.

Supporters of Brexit had based their opinion on a variety of factors from the global competitiveness of British businesses to concerns about immigration.
The Bank of Ghana has warned that Britain’s exit from the European Union (EU) bloc could negatively impact Ghana’s trade sector, Foreign Direct Investment (FDI) and the cedi.

The central bank further points out that, Ghana’s strong trade relations with both the EU and the UK could be affected, with Ghana losing some budgetary support from the EU.

Recent statistics show that trade between Ghana and the United Kingdom has reached £1.3 billion. Ghana is currently the UK’s fifth largest trade partner in Sub-Saharan Africa.
For Ghanaian exporters, this has created a lot of uncertainty in their operations. Hence, the need for businesses to attend this all important breakfast meeting to hear from the Minister for Trade and Industry and the British High Commissioner to Ghana about the international trade environment between the two countries in the coming years.
While many have commented on BREXIT, this is the first forum that brings together Ghana’s trade minister and the British High Commissioner to Ghana to discuss the issue in detail.
There will also be a presentation on how to access the China-Africa Development Fund.

Please follow and like us:

Share
#

Write a comment

5+8 = ?