SA in new trade deal with UK, together with five other countries
The ANC welcomes the new trade deal with five other countries in the region that has been concluded with the UK recently. This new agreement means certainty and a legal framework for trade with the UK in the event that the UK leaves the European Union without an agreement between them. This has been currently scheduled for October 31st 2019. The agreement would govern the trade relationship and tariffs between South Africa, Lesotho, Eswatini, Namibia, Botswana and Mozambique and the UK.
A no-deal Brexit would have added additional costs to exporting and importing goods for both, South Africa and the United Kingdom, as higher tariffs would have needed to be added to the cost of trading between the UK and South Africa. In 2018, the UK was the fourth largest destination for South African exports, with bilateral trade of more than R140?billion a year. The ANC believes that the new agreement, known as the "Sacum-UK Economic Partnership Agreement", replicates the terms of the agreement in the existing Economic Partnership Agreement with the EU, including relating to tariffs, quotas, rules of origin and health and safety regulations.