Bilateral And Multilateral Trade Agreements In South Africa- September 12, 2021
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 African Growth and Opportunity Act (AGOA) was signed in May 2000 with the goal of increasing U.S. trade and investment with sub-Saharan Africa, boosting economic growth, fostering economic integration, and facilitating sub-Saharan Africa`s integration into the global economy. The law establishes the annual U.S.-Sub-Saharan Africa Economic Cooperation Forum (AGOA Forum) to encourage high-level dialogue on trade and investment issues. AgOA focuses on important trade preferences that, together with those of the Generalized System of Preferences (GSP), allow almost all marketable products manufactured in AGOA-eligible countries to enter the U.S. market duty-free. There is duty-free trade between South Africa and the other four countries (Botswana, Lesotho, Namibia and eSwatini), which form the South 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 EU-South Africa Agreement on Trade and Development Cooperation, which entered into force in 2000, has become the cornerstone of the regional trade landscape as a Progressive Free Trade Agreement (FTA). South Africa has also negotiated agreements with the European Free Trade Association and Mercosur. South Africa has concluded, through SADC, negotiations on Phase I of the Tripartite Free Trade Agreement, which links SADC, the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA) into a free trade area.
The United States and the Common Market for Eastern and Southern Africa (COMESA), of which Malawi is a part, also signed a Trade and Investment Framework Agreement (TIFA) in 2001. . . .