Better trade with the EU
After 10 years of negotiating the Economic Partnership Agreement (EPA) with the European Union (EU), the South African Development Community (SADC) has finally initialled the EPA. , South Africa, Botswana, Lesotho, Swaziland, Namibia, Angola and Mozambique form part of the SADC grouping that initialled the EPA with the EU.
Once the EPA comes into force, it will provide South Africa with improved access to the EU market. As such it holds benefits to exporters over and above those benefits currently contained in the Trade Development and Co-operation Agreement (TDCA) between South Africa and the EU. Agricultural products have particularly gained greater access to the EU market as well as safeguard protection from surges in imports from the EU. It is expected that the various countries would now ratify the EPA in order for the EPA to become effective.
For more information on the full extent of the impact of the EPA, please do contact us.
© Trade Law Chambers 2014