This inexorable change in the economic geography of the world economy requires more purposeful effort to diversify South Africa’s trade and investment relations to benefit from the rapid and dynamic economic growth in the global south. Over the last decade the importance of building trade and investment relations with the new poles of economic growth in the world, that is developing countries, has become ever more compelling. All these negotiations have been pursued alongside South Africa’s partners in the Southern African Customs Union (SACU), comprising Botswana, Lesotho, Namibia and Swaziland, following the entry into force of the new SACU Agreement in 2004 that requires the customs union to negotiate all trade agreements as a bloc.
In September 2007, a similar negotiating process was initiated with India. While the scope of the market opening is more limited, the PTA will create a legal and institutional framework for managing South Africa’s trade relations with these important countries of the South and offer further opportunities to improve South Africa’s export growth in the coming years. A preferential trade agreement (PTA) with MERCOSUR comprising Brazil, Argentina, Paraguay and Uruguay entered into force in 2016. The Department pursues bilateral and regional negotiations and has concluded free trade agreements with the European Union (EU) and the European Free Trade Association (EFTA) comprising Switzerland, Norway, Lichtenstein and Iceland. Of greater importance, will be accelerated conclusion of enabling agreements under negotiation, and the implementation measures of those that have been ratified. Negotiating agreements on investment protection and economic co-operation.
Promoting regional integration through the strengthening and consolidation of the Southern African Customs Union (SACU) and the Southern African Development Community (SADC) free trade agreement and Promoting cross-border infrastructure development, notably on the basis of the spatial development initiative (SDI) methodology Identifying and establishing joint investment projects in partner countries Ĭoordinating South African technical co-operation and assistance to support policy and institutional development in partner countries The Department utilises strong government-to-government relations and mechanisms to advance a developmental agenda in Africa that focuses on:
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