Policy changes are needed to facilitate the faster and seamless flow of goods and services across borders.
Current realities are likely to counter the expectations that the AfCFTA is some kind of silver bullet that will transform Africa, sweeping away decades of embedded dysfunction and challenges.
Joining the Energy Charter Treaty is not in the public interest, according to South Africa’s government. It has also cancelled other agreements that allowed foreign investors to sue their state. This has not stopped investors from coming, says Mustaqeem de Gama.
South Africa’s preferential market access to the U.S. is under review, however, the country is apprehensive about striking a new trade deal with the U.S. and would rather maintain existing relations with the world’s largest economy.
All too often SA is condemned by the EU, Brazil and others for implementing necessary trade defence measures against unfair competition. But it is interesting to observe how the EU, a culprit of dumping in SA, fights to protect itself against dumping at all costs.
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.
Friday marked the start of trade for South African firms under two new trade agreements, the trade and industry and competition department (dtic) said.
The announcement immediately drew criticism from the US government, which previously threatened to exclude South Africa from a preferential trade agreement after a disagreement over the levies in 2015.
The country’s tariff income is at risk under the deal, which requires African member countries to lower or cut tariffs.
South Africa will in May hold an extraordinary summit of the African Union to finalise a continental free trade agreement.
The SACUM-UK EPA effectively retains the terms of trade present in the existing SADC-EU EPA.
The agreement will have positive spin-offs for the SA beef industry, said one of South Africa’s leading beef producers.
Les deux parties ont échangé des solutions pour augmenter la valeur d’échanges commerciaux bilatéraux dans les temps à venir dont la diversification des produits à l’export, la possibilité pour élaborer un accord de libre-échange bilatéral.
Africa is moving towards a more integrated, rules-based trade regime, but this is unlikely to transform the continent’s economic prospects
In 2018, SA and other African nations signed the CFTA agreement, which aims to create a single continental market for goods and services
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.
SA’s negotiations with the UK to ensure that a trade agreement is in place in the event that it exits the EU without a deal is 99% complete, trade and industry director-general Lionel October said.
The US-Africa Strategy seeks to re-position the US and bring it to par with China and Russia.
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.