South Africa Update
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NEW ECONOMIC AGREEMENT BETWEEN SADC & EU MARKET

A new economic agreement between SADC and the European Union will soon come into effect, giving agricultural products from the region improved access to the EU.

On 6th October 2016 as per the Department of Trade and Industry (dti), the Southern African Development Community (SADC) Economic Partnership Agreement (EPA) group has submitted the necessary instruments required to bring the agreement into effect.

The SADC group is made up of Botswana, Lesotho, Mozambique, Namibia, South Africa and Swaziland.

The agreement will provisionally enter into force between SACU [Southern African Customs Union] member states and the EU on 10 October 2016 for all provisions of the agreement, except for the new agriculture market access that requires an exchange of letters between the EU and South Africa to confirm the protection of each other’s Geographical Indications (GIs) names.

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SOUTH AFRICA REMAINS A SOUND INVESTMENT DESTINATION

The better than expected Gross Domestic Product (GDP) of 3.3% in the second quarter of 2016 is evidence that South Africa remains a sound investment destination that offers potential investors lucrative opportunities.

On 27th September 2016 while briefing the media on the Economic Sectors, Employment and Infrastructure Development Cluster, Science and Technology Minister mentioned the GDP figure released by Statistics South Africa raised the cluster’s expectation of a full-year growth for the country.

South Africa remains a sound investment destination; it offers potential investors lucrative investment opportunities. The country is a gateway to Africa, it possesses advanced technologies and manufacturing capabilities.

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12 October 2016
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