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Southern Africa reaps EU trade benefits

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Thursday, 03 November 2016

Southern Africa reaps EU trade benefits

Five southern African countries – Botswana, Lesotho, Namibia, South Africa and Swaziland – have opened a new chapter in their bilateral relations with the European Union (EU) following the coming into effect of the Economic Partnership Agreement (EPA) on October 10. The EPA takes into account the different levels of development of the partners. It gives Botswana, Lesotho, Mozambique, Namibia, and Swaziland duty-free, quota-free access to the European market. Meanwhile, an analysis by The Southern Times indicates that the region has been enjoying robust trade with the EU. The SADC EPA Group recorded a positive trade balance in 2015, according to the EU Embassy in Windhoek. Botswana, aided by petroleum, mining products and ores, recorded the highest positive trade balance totalling R18.5 billion after it exported goods worth R22.6 billion while importing products worth only R4.1 billion. Namibia, in second place, posted a positive trade balance totalling R9.5 billion, after exporting to the EU goods worth R15.5 billion and importing products worth R6 billion.

Source: southernafrican.news