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Southern Africa Customs Union announces Post-Brexit economic partnership with UK

The Southern Africa Custom Union (Sacu) countries, along with Mozambique, recently announced the agreement in principle of a new economic partnership agreement (EPA) with the UK. The parliamentary processes needed to bring the agreement into effect are currently in progress.

The deal, which will govern bilateral trade between the Sacum countries and the UK, will come into effect when or if the UK leaves the EU in October.

The new deal, termed the Sacum-UK Economic Partnership Agreement, will replicate the preferential trade terms regarding tariffs, quotas, rules of origin and health and safety regulations, which are currently part of the existing Southern African Development Community-EU agreement.

Due to its close investment and financial ties to the UK, South Africa is one of the most exposed countries in sub-Saharan Africa in terms of the impact of a hard Brexit on the continent.

Source: iol.co.za


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