We must work harder to secure trade access in the US and UK
6 February 2017
The year that was 2016 could not have offered more surprises if it tried, BREXIT, The DA kicking the ANC out of major metros and of course the election of Donald Trump as United States President.
If there is one thing we learnt about the year gone by, its that things in politics are never certain and constantly change. Trade is no different from politics and with exports remaining a key component to South Africa’s economy, especially with respect to equipment ,agriculture and vehicle exports, we need to evaluate what these changes mean for us as a country.
The United States and Europe are some of our biggest markets for exports with the African Growth and Opportunities Act (AGOA) and the European Partnership Agreement (EPA), offering South Africa duty free access on a number of our goods into these markets.
As a result of Trumps election and his campaign promises ‘to make better deals’ and ‘to Make America Great Again’, our duty free access to this important market is no longer guaranteed should the United States Congress wish to repeal the Act.