Brexit will not dis­rupt UK-SADC trade

The Star Early Edition - - BUSINESS REPORT -

UK MIN­IS­TER Lord Price con­firmed yes­ter­day that the trade re­la­tion­ship be­tween the UK and the South­ern African Cus­toms Union coun­tries (SACU) would not be dis­rupted due to the Brexit process. Last year SADC coun­tries – Botswana, Le­sotho, Namibia, Mozam­bique, South Africa and Swazi­land – signed an the Eco­nomic Part­ner­ship Agree­ment (EPA) with the EU. The UK reaf­firmed its com­mit­ment to the trade agree­ment un­der the cur­rent deal and said it would main­tain duty-free quota-free mar­ket ac­cess. “It is im­por­tant that we en­sure that there are no dis­rup­tions with the trad­ing re­la­tion­ship with South Africa as well as with other SADC coun­tries. “We have to make sure that no­body suf­fers be­cause of a gap be­tween us leav­ing the EU and striv­ing for new deals.” The dis­cus­sions be­tween UK and SADC (SACU) coun­tries are fo­cused on steps to agree on a deal that repli­cates the ef­fects of the EPA once the UK has left the EU. “We have come to a very prac­ti­cal so­lu­tion that we will main­tain what we have to­day and make sure that it is en­forced in April 2018.” The UK is sched­uled to leave on EU next March – but it can be ex­tended if all 28 EU mem­bers agree. Min­is­ter of Trade and In­dus­try Rob Davies stated that they all agreed that it would be es­sen­tial to roll-over the EPA when the UK leaves the EU. “We are es­sen­tially look­ing out for some el­e­ments of con­ti­nu­ity from the first in­stance.” – Nt­siki Nt­si­bande

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.