Singapore, South African Customs Union to discuss FTA
Friday April 22, 2005
Singapore, South African Customs Union to discuss FTA
SINGAPORE: Singapore and the South African Customs Union will begin talks on a free trade agreement later this year.
This decision was reached on Thursday after the visiting South African President Thabo Mbeki held talks with several Singapore leaders, including Prime Minister Lee Hsien Loong.
The South African Customs Union comprises South Africa, Botswana, Lesotho, Namibia and Swaziland.
They will discuss the proposal at their Council of Ministers’ meeting next week.
On Thursday, Singapore and South Africa also signed a Memorandum of Understanding (MOU) to take bilateral ties to a new level.
The MOU will further strengthen political and economic ties as it spells out clearly areas to focus on.
For example, Singapore and South Africa agreed to liberalise the air services pact, paving the way for the conclusion of an Open Skies Agreement.
By drawing on their strengths as gateways to their respective regions, the two countries will see improved flow of trade and services.
They also agreed to establish a Joint Trade Committee, which will explore the possibility of a free trade agreement (FTA).
"Both South Africa and Singapore are active on the FTA front and both share the common belief that FTAs can accelerate the momentum of trade liberalisation and strengthen the multilateral trading system," said Singapore President S R Nathan when he met President Mbeki at the Istana.
"FTAs not only enhance trade and investment flows but more importantly add dynamism to our respective regions and generate employment opportunities for our people. FTAs will send an important signal to our business communities to work together," added Mr Nathan.
Both leaders feel that by creating platforms for Asians and Africans to learn more about each other, a truly Asian-African partnership would evolve.
President Mbeki said: "It’s quite clear that with the strengthened relationship between Asia and Africa, there is much that can be done."
"We need to go beyond just looking north. The answers to the development challenges we face are not in the north, they are in the south, they are here in Singapore," he added.
Later Thursday, President Mbeki also delivered the 26th Singapore Lecture.
He said he had come to Singapore to share and exchange ideas on the current challenges facing the world, especially Africa.
President Mbeki also referred to Mr Lee Kuan Yew’s Memoirs and his reference to the traumatic experience of race riots.
"These experiences could easily have been recorded by many Africans who faced colonialism and apartheid, who faced race and ethnic clashes as they tried to contribute to a better life for their people.
"Undoubtedly, these reflections serve to remind us of the similarities in our history and the need to learn from one another."
President Mbeki also said there’s a need to strengthen partnerships at all levels, between governments and various institutions of research and innovation, between the universities and businesses.
He said: "We will agree that we need to do all these because we have a pressing duty to collaborate so as to banish hunger, disease, poverty and undevelopment from the face of earth.
"Let me reiterate that even with all these challenges, this is Africa’s season of hope. The process of democratisation is irreversible.
"Unlike in the past, Africans are building a peaceful and stable continent by dealing swiftly with incidents of conflict and instability as well as creating strong institutions for this purpose.
"Economic growth is on the rise in most countries with correct national macro economic fundamentals and investor-friendly conditions in place."
President Mbeki said he planned to come back to Singapore again and stay longer. - CNA/ir
