The EU parliament has extended the deadline for Africa and Caribbean and Pacific, ACP countries to sign the Economic Partnership Agreement by two years to 2016.

This, according to the house is to allow for more discussion on the agreement.

The Secretary General of the ACP Countries, Dr Mohamed Ibn Chambas has hailed the decision as prudent political judgment that will help make balanced decisions to benefit all parties.

Ghana has indicated that it might break away from the economic grouping and sign the pact. In 2007 it became the second country after Ivory Coast to sign the interim EPA with the European Union.

This was to allow continuous access to the European market which will provisionally allow 80 percent of some European goods into the Ghanaian market duty-free and quota-free, while Ghana will continue to have 100 percent access to the EU market, except for sugar and rice.

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