SA Now Exported More to Rest of Africa in 2021 than to EU; and news of the AfCFTA
According to the Department of International Relations and Cooperation, South Africa’s exports to Africa surpassed those to the European Union in 2021. SA has also agreed to Malabo Declaration Commitment 5, which calls on African states to triple trade in agricultural commodities and services and fast-track the continental free trade area (AfCFTA), and transition to a continental common external tariff scheme.
Meanwhile, the UK Foreign Commonwealth and Development Office has committed up to £35m to enable trade facilitation and trade policy support to the AfCFTA secretariat and member states through TradeMark East Africa (TMEA), the Overseas Development Institute (ODI), and other regional partners. The announcement of the programme came as Wamkele Mene, the Secretary-General of the AfCFTA Secretariat visited London to discuss how the UK can continue its work as a strategic partner to the AfCFTA.
As the world’s largest free trade area, the AfCFTA has the potential to boost Africa’s economic growth by driving industrialisation, generating jobs, and delivering prosperity across the continent. For the UK businesses, the trade bloc will remove market access barriers by creating a single continental market, making it easier and more cost-effective for the UK businesses to export goods and services across the AfCFTA member states
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