The Importers & Exporters Association of Ghana (IEAG) extends its hearty commendation to the Government of Ghana, particularly the Ministry of Foreign Affairs, for its successful engagement with the Government of the United States, following the official notification that the punitive 15% export tariffs imposed on Ghanaian cocoa and other qualifying agricultural products have been rescinded.
This decisive diplomatic achievement, reportedly effective as of 13 November 2025, marks a significant milestone for Ghana’s trade community and for our country’s export-driven growth. By restoring duty-free or reduced-barrier access to markets for cocoa, avocado, cashew nuts, mango, plantain and other key products, this agreement helps to safeguard Ghanaian exporters’ competitiveness and preserves vital foreign exchange inflows.
IEAG’s Perspective
Samson Asaki Awingobit, Executive Secretary of IEAG, noted that this development vindicates long-held concerns within the business community. Indeed, as the IEAG has publicly warned in the past, tariff impositions were already undermining Ghana’s exporters’ ability to compete internationally.
In earlier comments following the U.S. imposition of a 10% tariff, Mr. Awingobit warned that the burden would erode profit margins, discourage production, and threaten jobs in export sectors. At that time, IEAG also urged the Government to double down on diplomatic negotiations and trade diversification to mitigate the risk of sustained U.S. protectionism.
One such diversification pathway is already bearing fruit. IEAG has long maintained that as Ghana’s access to the Chinese market improves, there is a strong likelihood that U.S. demand could decline, potentially prompting the U.S. to reconsider its protectionist policies. Indeed, following the recent Ghana–China zero-tariff trade agreement, Mr. Awingobit welcomed the policy as a timely relief.
While the rescission of the U.S. tariffs is undeniably a victory, IEAG underscores that this is not the time for complacency. We call on Government, and in particular the Ministry of Foreign Affairs, to maintain this momentum by:
- Deepening Trade Diplomacy through continuous high-level engagement with key partners (including the U.S., China, and other major markets) to secure favorable terms for Ghanaian exports. Government must also leverage the country’s growing trade footprint to negotiate bilateral and multilateral trade arrangements that lower barriers, reduce risk, and open new markets for non-traditional exports.
- Strengthening the Export Ecosystem by providing targeted support (fiscal, infrastructural, regulatory) to exporters, especially in the maritime and agricultural sectors, to maximize the benefits of market access.
- Bolstering Export Sector Resilience by implementing export credit guarantees, insurance mechanisms, and risk mitigation tools to support exporters navigating volatile global markets.
- Prioritising Foreign Exchange Protection & Diversification by significantly expanding the nation’s export base. A stronger export sector will help ease the persistent pressure on Ghana’s foreign exchange reserves, particularly as traditional exports such as cocoa, gold, and oil continue to dominate and account for a substantial share of national revenue.
Why This Matters for Ghana’s Economy
According to the Ghana Statistical Service, gold, cocoa, and oil together accounted for 83.4% of Ghana’s total exports in 2024, underscoring how critical cocoa remains to Ghana’s foreign exchange earnings.
Strengthening the export sector can contribute meaningfully to external liquidity: export surpluses help replenish reserves, support currency stability, and reduce the reliance on foreign borrowing.
Trade diversification, especially into value-added products, creates jobs, boosts industrial capacity, and supports Ghana’s broader economic transformation agendas.
In conclusion, the Importers & Exporters Association of Ghana applauds the Government’s diplomatic success in securing the reversal of the U.S. tariffs. We believe this outcome is a testament to the effectiveness of persistent trade diplomacy and the strategic foresight of national policymakers.
We remain committed to working alongside Government, as a constructive partner, to translate this opportunity into sustained export capacity, greater value addition, and stronger foreign exchange inflows. We urge all stakeholders, public and private, to rally around this moment and invest in the future of Ghana’s export-driven prosperity.
Signed,
………………………….
Samson Asaki Awingobit
Executive Secretary, Importers & Exporters Association of Ghana
Tel: 024 357 5046
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