Trade Agreements South Africa

The EPO is helping to improve the business climate between partners by providing a stable and forward-looking framework for businesses in South Africa and across Southern Africa. It helps to promote bilateral and regional trade, thus offering new opportunities to achieve the objectives of the strategic partnership between South Africa and the EU. Since the end of apartheid, foreign trade has increased in South Africa after the lifting of several sanctions and boycotts imposed as a means of ending apartheid. Nearly 90% of South Africa`s exports to the rest of Africa go to SADC economies. In 2018, South Africa exported and imported $25 billion and $11.5 billion worth of goods to and from the rest of Africa. Intra-African exports account for 26% of South Africa`s total exports and imports account for 12% of total imports for 2018. South Africa`s exports to the rest of Africa consist mainly of value-added goods. With regard to South Africa`s total trade (exports + imports) with the rest of the continent; Namibia (13%), Botswana (12%), Nigeria (12%) and Mozambique (12%) are South Africa`s main African trading partners. [8] South Africa already signed an important free trade agreement with the European Union in 1999. This agreement not only had a lasting impact on South Africa itself, but it also prepared the necessary conditions for the EU (and EFTA) to work towards getting African countries to sign further liberalisation of trade and investment policies over the next decade, notably through the EU-ACP EPA negotiation process. South Africa alone has a bilateral free trade agreement with SADC (Southern Africa Development Cooperation). It also has preferential agreements with Malawi, Zimbabwe and Croatia, as well as a non-reciprocal trade agreement with Mozambique.

It is currently considering further bilateral agreements with Kenya, Nigeria, China, Japan, Singapore, South Korea and India. In late 2011, it rejected a proposal for a free trade agreement from Turkey claiming that it would lead to destructive competition that would undermine South Africa`s industrial and employment goals. Describes the bilateral and multilateral trade agreements in which this country participates, including with the United States. Contains websites and other resources for U.S. companies to get more information on how to use these agreements. At present, the UAE is also one of the main trading partners with African buyers/importers. Since the EU and South Africa concluded a Trade Development and Cooperation Agreement (TDCA) in 1999, the two sides have enjoyed a strong and growing trade relationship. In June 2016, the EU and South Africa – along with Botswana, Lesotho, Mozambique, Namibia and Swaziland – signed the Southern African Economic Partnership Agreement (SADC EPA), which governs trade in goods between the two regions, replacing the trade provisions of the TDCA.

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Published on: October 12, 2021  -  Filed under: Uncategorized