Prime News Ghana

Yao Graham fears EPA deal will cripple economy further

By Justice Kofi Bimpeh
Coordinator of Third World Network Africa
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Coordinator of Third World Network Africa, Dr. Yaw Graham has stressed that perceived gains Ghana would get from the Economic Partnership Agreement (EPA) signed with the European Union will largely be on paper with the reality on the ground being different. 

According the head of the Pan-African research and advocacy organisation based in Ghana, the parliament of Ghana rushed in signing the interim EPA regardless of the numerous concerns raised by the Private Enterprise Foundation, Trade Union Congress and other civil societies.

He said the agreement is inimical to the country’s overall economic advancement while giving an illusion that the European Union (EU) will open up its restrictive markets to Ghanaian goods. 

Speaking to Radio Ghana, Dr. Yaw Graham added that not only is the EPA a cost to the country, it also poses a threat to the African Trade Integration agenda since almost 80% Ghana’s market will be penetrable by the EU.

The Pan Africanist urged government to relook at the concessions it has given if Ghana is to gain anything substantial from the deal.

Deputy Minister for Trade and Industry, Murtala Mohammed however rendered that parliament was not rushed into ratifying the deal adding Dr. Graham ought to be aware that extensive consultation was done by leadership before ratification.

Mr. Mohammed added the EPA agreement will open up the trade system for local companies to buy their material at reduced cost to help produce and compete with other well established companies in the world.