Business Botswana (BB) is concerned that the benefits of the African Continental Free Trade Area (AfCFTA) Agreement, will not be fully exploited by local businesses.
Private sector lobbies in Africa’s six regional trading blocs have formed the African Business Council, a continental umbrella body to spearhead the business agenda for the African Continental Free Trade Area (AfCFTA).
All SACU members need to ratify the AfCFTA before any of its members can start trading under it. ECOWAS States were facing the same problem.
As the end of the UK-EU transition period looms, the future trading relationship between the UK and Africa remains uncertain.
Namibia ratified the SACU-Mozambique and United Kingdom Economic Partnership Agreement (SACUM - UK EPA) in the National Assembly on 20 October 2020.
In the SACUM-UK EPA, commitments on tariffs for both the UK and SACUM have been transitioned from the SADC-EU EPA without changes.
The SACUM-UK EPA effectively retains the terms of trade present in the existing SADC-EU EPA.
Pakistan is already in touch SACU, ECOWAS and EAC to negotiate trade agreements and also plans to take advantage of the opportunities that exists under the African Continental Free Trade Agreement.
The Trade Ministers from the SACU Member States, Mozambique and the United Kingdom signed the economic partnership agreement.
Players in the automobile sectors from the East African Community and the Southern African Customs Union are developing a joint policy to encourage motor vehicle manufacturing that is beneficial to both blocs.
The UK has initiated an economic partnership agreement with the Southern African Customs Union and Mozambique (Sacu+M) that will allow business to keep trading freely after Brexit.
The Namibian mines and energy ministry has called on trade experts to find innovative ways to contribute to the success of the review process of the free trade area agreement between the European Free Trade Association (Efta) and the Southern African Customs Union (Sacu).
The Ministry of Mines and Energy has called on trade experts to find innovative ways to contribute to the success of the review process of the Free Trade Area (FTA) agreement.
Cabinet has directed the finance ministry to develop policies that would reduce the country’s heavy reliance on the Southern Africa Customs Union revenue.
This directive was issued during last week’s Cabinet meeting in Windhoek.
The African Continental Free Trade Area (ACFTA) will be launched on 7 July 2019 in Niamey, Niger, by the Heads of State and Government at an extraordinary summit of the African Union.
Issue with “cumulation,” which relates to certificates of origin required by exporters to both regions and differences in relation to timeframes for the continued recognition of sanitary and phytosanitary import requirements are not resolved.
Substantial progress has made to conclude a Roll-Over Economic Partnership Agreement between SACU, Mozambique and the UK.
The SA government has been working in the background to ensure that trade arrangements with the UK and EU are uninterrupted while the UK exits from the EU.
To avoid trade disruption, SACU+Mozambique and UK have decided to roll-over the EPA into a standalone trade agreement with the UK.
The Southern African Customs Union is close to finalising a deal with the UK to replicate the existing economic partnership agreement which the customs union has with the EU, says South African trade and industry minister.