More South African products to be exported to the Old Continent due to a new trade agreement with the European Union (EU), that opens a window of opportunities to the African nation.
The sale of wine free of taxes will double from South Africa to Europe and it will promote the access to new markets for sugar and ethanol, reported here to the media the Minister of Trade and Industry, Rob Davies.
The Agreement of Economic Association (AEA) between the European Union and the South African Customs Union (SACU), will equally facilitate trade between regions and the industrialization in the African continent.
The agreement will call for the rise from 50 million to 110 million liters of bottled wine that will enter the EU tax-free, while 150 thousand tons of sugar will be tax exempted.
South Africa, Botswana, Lesotho, Mozambique, Namibia and Swaziland, signed the agreement on June 10, commented Davies the eve.
For Pretoria, the present pact substitutes the bilateral trade chapter between the EU and South Africa, of Trade, Development and Cooperation (ATDC) of the year 2000.
With the ATDC only 65 percent of the local agricultural products was covered and as for the EU, 80 percent.