17 Dec South Africa And Trade Agreements
It describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. South Africa signed a major free trade agreement with the European Union in 1999. This agreement not only had a lasting effect on South Africa itself, but also set the conditions for stronger EU (and EFTA) action to get African nations to commit to greater trade and investment policy liberalization over the next decade, notably through the EPA negotiation process between the EU and ACP countries. South Africa has signed numerous agreements with its trading partners in recent years. The country also benefits from a number of non-reciprocal trade agreements, including the African Growth and Opportunity Act and the Generalized Preference System. There are duty-free exchanges between South Africa and the four other countries (Botswana, Lesotho, Namibia and eSwatini) that make up the Southern African Customs Union (SACU). The 2012 Southern African Development Community (SADC) Free Trade Agreement allows duty-free trade between 12 of the 15 members. The Trade and Development Cooperation Agreement between the European Union and South Africa, which came into force in 2000, has made available a progressive free trade agreement (FTA) that has become the cornerstone of the regional trading landscape. South Africa has also negotiated agreements with the European Free Trade Association and Mercosur.
South Africa, through SADC, has concluded negotiations on Phase I of the tripartite free trade agreement, which includes the CDAA, the East African Community (EAC) and the East and South African Common Market (COMESA) in a free trade area. The EPA contributes to improving the business climate between partners by providing businesses with a stable and forward-looking environment in South Africa and throughout the African region. It contributes to the promotion of bilateral and regional trade and thus offers new opportunities to achieve the objectives of the strategic partnership between South Africa and the EU. Since the EU and South Africa concluded a Trade Development and Cooperation Agreement (TDCA) in 1999, the two sides have maintained strong and growing trade relations. In June 2016, the EU and South Africa signed the Southern Africa Economic Partnership Agreement (SADC EPA), which governs merchandise trade between the two regions, with Botswana, Lesotho, Mozambique, Namibia and Swaziland, which governs merchandise trade between the two regions, replacing the TDCA`s trade provisions. As part of government policy, the South African government is seeking 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 to protect the labour-intensive apparel industry. During 2020, the South African authorities took emergency measures to limit all goods and people traffic as a result of the Covid 19 pandemic; These have been partially removed. DTI uses strong relationships between governments and mechanisms to promote a development agenda in Africa focused on identifying and implementing joint investment projects in partner countries; Promote trade between the two parties; coordination of technical cooperation and South Africa`s support for political and institutional development in partner countries; promote the development of cross-border infrastructure, particularly on the basis of the SDI methodology; promote regional integration by strengthening and consolidating the South African Customs Union (SACU) free trade agreement and the Southern African Development Community (SADC) Free Trade Agreement; and negotiate investment protection and economic cooperation agreements.