Free Trade Agreements With South Africa
For government policy reasons, the South African government is working to further open its market in order to increase trade and develop more competitive domestic industries. However, in 2006, the South African government made exceptions to this approach in order to protect the labour-intensive garment industry. During 2020, the South African authorities adopted emergency measures to limit all freight and passenger traffic due to the Covid 19 pandemic; These have been partially removed. 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. 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. ITTIs use strong relationships and mechanisms between governments to promote a development agenda in Africa focused on identifying and implementing joint investment projects in partner countries. trade promotion; coordinate South Africa`s technical cooperation and assistance to support political and institutional development in partner countries; promote cross-border infrastructure development, in particular on the basis of the IDI methodology; promoting regional integration through the strengthening and consolidation of the Southern African Customs Union (SACU) and the Southern African Development Community (SADC) Free Trade Agreement; and the negotiation of investment protection and economic cooperation agreements.
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. Under the so-called SADC EPA, the EU has eliminated some or all tariffs on 98.7% of imports from South Africa, while guaranteeing full access for other signatory countries. Today, the EU remains South Africa`s largest trade and investment partner. South Africa already signed a major 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 is an emerging economy….