Europe opens door to more South African productsStaff writer ▼ | June 20, 2016
More South African products to be exported to the Old Continent due to a new trade agreement with the European Union (EU), that opens a window of opportunities to the African nation.
Trade The Agreement of Economic Association
The Agreement of Economic Association (AEA) between the European Union and the South African Customs Union (SACU), will equally facilitate trade between regions and the industrialization in the African continent.
For example, with the recent agreement will rise from 50 million to 110 million liters of bottled wine that will enter the EU tax-free, while 150 thousand tons of sugar will be tax exempted.
South Africa, Botswana, Lesotho, Mozambique, Namibia and Swaziland, signed the agreement on June 10.
For Pretoria, the present pact substitutes the bilateral trade chapter between the EU and South Africa, of Trade, Development and Cooperation (ATDC) of the year 2000.
With the ATDC only 65 percent of the local agricultural products was covered and as for the EU, 80 percent. ■