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Monday, 07 November 2011

SACU-Mercosur PTA gets cautionary thumbs-up

The Namibian Deputy Minister of Trade and Industry, Tjekero Tweya, tabled a motion in Parliament on Thursday for the ratification of a preferential trade agreement (PTA) between the Southern African Customs Union (Sacu) and South America's trade bloc, called the Common Market of the South (Mercosur).[…]

Tweya said the current impasse in World Trade Organisation (WTO) trade negotiations, and the recent announcement by the European Union (EU) that it will close its markets for Namibian products if Namibia and other African Caribbean and Pacific (ACP) countries have not signed the Economic Partnership Agreement (EPA) by the end of 2013, have placed Sacu, and Namibia in particular, in a "delicate" position in terms of market access for their products.

He said the implementation of the Sacu-Mercosur PTA would provide Namibia with an alternative market and broaden its market base.

Source: AllAfrica/The Namibian

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