Ireland to Boost West African Trade with Double Taxation Deal

By Dipo Olowookere

Ghana has been described as a strategic market for Irish companies in West Africa, mainly in the food and beverage sector

This was made known following the signing of a Double Taxation Agreement between Ireland and Ghana, an important step to increase trade with West Africa.

The deal, the first that Ireland has concluded with a West African country, was signed by Ireland’s Ambassador to the Republic of Ghana, Mr Seán Hoy and Minister of Finance and Economic Planning, Ghana, Mr Ken Ofori-Atta, at a ceremony in Accra on Wednesday, February 7, 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, Minister of State for the Diaspora and International Development, Ciarán Cannon T.D, stated that, “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 key in facilitating trade with Ghana which saw strong real GDP growth of 7.9% in 2017.

Bilateral trade between Ireland and Ghana totalled €43.4 in 2016 and the West African nation is the 6th 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.

The signing of the Agreement follows the largest ever Irish Trade Mission to West Africa in 2015 which was led by then Minister for Agriculture, Food and the Marine, Simon Coveney T.D.