![]() 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 ASEAN (Association of Southeastern Asian Nations) – Founded in 1967, ASEAN now consists of 10 Southeast Asian nations with the shared goal of creating trade-friendly policies, promoting economic growth, and ensuring peace and stability between member states.The Department utilises strong government-to-government relations and mechanisms to advance a developmental agenda in Africa that focuses on:. ![]() The goal of the EU is to promote the “Four Freedoms”: the free movement of goods, services, people and money across borders within the member countries. EU (European Union) – This agreement consists of 27 European countries 19 of which share a common currency: the Euro.A new version with updated terms was signed by the United States in 2020. NAFTA (North American Free Trade Agreement)/USMCA (US-Mexico-Canada Agreement) – This agreement, which took effect in 1994, promotes trade between the United States, Mexico and Canada.Three important examples of trading blocs are: These rules are designed to limit trade barriers such as subsidies, tariffs, and quotas. Trading blocs are simply groups of countries that establish rules for trade between all participating countries. When these agreements contain multiple countries, we refer to them as Trading Blocs. Because there are many benefits to participating in trade, countries often make agreements with other countries to facilitate the free and fair flow of goods and services between them.
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