Ghana is likely to benefit from a duty-free, quota-free trade deal from the United Kingdom. These are some of the proposals captured in a new Bilateral Trade Agreement being discussed between the Ghanaian government and their UK counterparts. The pact has become necessary due to planned exit by the UK government from the European Union after January 31. This deal is to ensure that there is a legal document that covers all trade relations between the two countries. Discussions for this deal are being held under the UK –Ghana Business Council. The council among other things is looking at how to also deepen the strategic bilateral partnership between the two countries. The Council was established 12 months ago as a high-level forum to promote bilateral relations and strategic partnerships between Ghanaian private sector and UK counterparts for trade and investment that would mutually benefit each nation and enhance economic growth. The meeting was co-chaired by Vice President Dr Mahamudu Bawumia and Baroness Elizabeth Sugg, UK's Parliamentary Under-Secretary of State for International Development. This would also mean that Ghana would be required under this agreement to open its economy to quota-free, duty-free goods from the UK as well. The council is expected to help put in place the Trade Agreement. Speaking to JoyBusiness in Windsor, British Prime Minister’s Trade Envoy to Ghana, Adam Afriyie said he is optimistic the deal would be closed soon between the two countries. He said, “this is a trade deal that would offer so much to Ghana and a lot of opportunities to Ghanaian businesses”. Mr Afriyie added that “this is the best opportunity that Ghana can have in terms of a trade deal that benefits the two countries”. What if Ghana fails to sign this Trade Agreement?   There are fears that exports to the UK would be seriously affected if Ghana fails to close this deal as expected within the next 12 months. Mr Adam Afieyie said he is hopeful that they would not get to the situation where ongoing talks would be abrogated. Would Ghana benefit from this deal? The argument has been whether Ghana can take full advantage of the opportunity that the various trade deals bring to the country. But Mr Afrieyie said Ghana has already started benefiting from this partnership and “I don’t think that Ghana in any way stands to lose out on this proposed trade agreement.” BREXIT and Ghanaian Businesses   The UK government continues to assure Ghanaian firms that there is no need for any business that exports to the UK to panic. This is because it would be business as usual for firms that export to the UK. The UK government, on the other hand, has also promised that there would be one year grace period for all exports from Ghana to ensure that there are no disruptions. Mr Afriyie said, “UK leaving the EU rather presents a huge opportunity for Ghanaian firms in terms of a closer partnership between the two countries. He noted that there are more jobs in the UK now than ever before, this is because of the opportunities that exiting the EU brings to businesses operating in the UK.