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Wednesday, 19 October 2011

ACP countries to discuss end of preferential markets

African, Caribbean and Pacific (ACP) countries will convene in Togo next month to discuss, amongst other issues, the possible extension period of preferential markets following their coming to an end around 2020, it has been revealed.

In Swaziland, sugar is one of the many products that enter preferential markets duty and quota free.
Mtfongwaneni Member of Parliament Patrick Gamedze said from the 3rd to the 6th of this month, he attended an ACP and European Union (EU) meeting in Brussels, Belgium, where trade related issues were extensively discussed.

He said three committees at the meeting discussed, amongst other things, social issues and that the meeting was a build up to one that was to be held in Togo next month. […]

Meanwhile, a DNA Economist Lawrence Edwards said the reliance on preferential markets was risky as these (markets) were coming to an end.  He advised Swaziland to consider China as an export destination as rates were lower. Edwards said exports in the country were targeting developed countries like Europe yet prices were volatile. He suggested that Swaziland venture into new markets and that it should use the preferential ones to access new ones.

Source: Swazi Observer