Munich Personal RePEc Archive

The Economic Partnership Agreement Between Ghana and the European Union: A Developmental Game Changer?

Acheampong, Theophilus and Omane-Achamfuor, Michael and Anang Tawiah, Nii (2014): The Economic Partnership Agreement Between Ghana and the European Union: A Developmental Game Changer? Published in: Ghana Growth and Development Platform No. Working Paper (July 2014)

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Abstract

In December 2007, Ghana and the EU initialled the interim Economic Partnership Agreement (iEPA), which provides a framework for trade. This followed the near expiration of the Cotonou agreement, which had been in existence since 2000. Regional body ECOWAS gave their backing to the full EPA in July 2014 following a review of issues raised by Nigeria. Though the objectives of the EPA are simple with regard to increasing productive investments and job creation in Ghana and West Africa, as well intensifying and facilitating trade between Ghana (and the ECOWAS region) and the EU towards a win-win developmental relationship; we conclude that the attainment of these noble objectives cannot be attained without serious commitment to reforming the business environment especially the supply side constraints many businesses grapple with on a day to day basis. The EPA would, in effect, provide free access to the EU market of 500 million people for all products from Ghana thus providing a lot of scope for economies of scale and scope. It also conforms to meeting WTO rules, unlike the system operating under the Cotonou agreement; therefore, would save all parties from unnecessary legal challenges.

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