SOUTH AFRICA SIGNS FREE TRADE AGREEMENT WITH AU

SOUTH AFRICA SIGNS FREE TRADE AGREEMENT WITH AU

South Africa has signed the African Continental Free Trade Area agreement with the African Union.

Trade and Industry Minister Rob Davies confirmed Sunday’s signing of the 250-pages document in a video put out by the department of Trade and Industry (dti) on Twitter.

In March President Cyril Ramaphosa signed the Kigali protocol indicating South Africa’s commitment to signing the trade agreement.

However, Pretoria failed to join 44 other African countries in signing, on the grounds that there were certain areas within the agreement that required further clarification in terms of South Africa’s constitutional and internal processes, Davies explained in March

Davies reiterated this reasoning in Sunday’s video confirming that the signing was going ahead after the necessary vetting had been undertaken by legal advisors.

The government also signed two annexures on trading goods and services on the continent.

“We are very happy to be part of this club,” said Davies. He said the dti would “without delay” present the proposal to Cabinet to send the agreement to parliament for ratification.

The signed agreement will increase intra-regional trade and further more complex levels of production on the African continent.

– African News Agency (ANA)

Facebook Comments

About author

Nigerians in South Africa
Nigerians in South Africa 11220 posts

We are about democracy, human rights, public opinion, political behavior, civil rights and policy aimed at improving the human condition, with a focus on African countries.

You might also like

Business 0 Comments

GBPJPY: Keep an Eye on This Range

The GBPJPY hasn’t done much since the pound’s explosive October rally. In fact, the risk-sensitive pair has only managed a 250 pip horizontal range since October 16. This consolidation began following an October rally that took the GBPJPY higher by more tha…

CNNgo

CNNgo – CNN.com

Business 0 Comments

Read next on IOL Do not be swept away by the Black Friday frenzy 25 November

Gauteng / 25 November 2019, 08:40am / Georgina Crouth Black Friday falls on November 29 this year and retailers are moving towards final preparations for the discount shopping bonanza. Picture: Nacho Doce/Reuters/African News Agency (ANA) Love it or hate it…

0 Comments

No Comments Yet!

You can be first to comment this post!

Leave a Reply