Ireland signs double taxation agreement with Ghana to boost West African Trade

Ireland GhanaThe agreement aims to strengthen the bilateral relationship between the two countries. (Image source: World Bank Photo Collection/Flickr)Ireland has signed a double taxation agreement with Ghana, a move aiming to increase trade with West African region

The agreement, the first that Ireland has concluded with a West African country, was signed by Seán Hoy, Ireland’s ambassador to the Republic of Ghana, and Ken Ofori-Atta, minister of finance and economic planning in Ghana, during a ceremony in Accra on 7 February 2018.

Representatives from ESB International, Guinness and Tullow Oil, all of which have a significant presence in the Ghanaian market, were invited to join the Irish delegation at the ceremony.

Commenting on the agreement, Ciarán Cannon T D, minister of state for the diaspora and international development, said, “I have just returned from a visit to West Africa and was struck by the huge potential for Irish companies. At a time when our companies are seeking opportunities beyond traditional markets, this agreement will be important in facilitating trade with Ghana which saw strong real GDP growth of 7.9 per cent in 2017.”

Ghana remains a strategic market for Irish companies in West Africa, mainly in the food and beverage sector. Ghana is the sixth largest market in Africa for Irish food and drink exports. It is also an important beef export destinations outside the EU. Links in the education and energy sectors are also growing, according to Cannon T D.

The signing of the agreement follows the largest ever Irish Trade Mission to West Africa in 2015.

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