(2 minutes read)
· South Africa started trading under two new agreements on the New Year: viz African common market and the t deal with the UK under the Southern African Customs Union, Mozambique–UK Economic Partnership Agreement
· With the UK exiting EU, analysts attach a lot of importance to the deal, particularly when the UK is still in the grip of the pandemic
· The accord provides for seamless trade between the two countries
· This has to be seen against the context of the launch of preferential trade under the African Continental Free Trade Area
South Africa started trading under two new agreements on the New Year: viz African common market and the t deal with the UK under the Southern African Customs Union, Mozambique–UK Economic Partnership Agreement.
With the UK exiting the EU, analysts attach a lot of importance to the deal, particularly when the UK is still in the grip of the pandemic. The accord provides for seamless trade between the two countries. This has to be seen against the context of the launch of preferential trade under the African Continental Free Trade Area.
Except Eretria, other 54 countries in the region have signed the AfCFTA accord. There are 55 countries in the common market. Of that, 34 have ratified the accord. The deal could cover a market of more than 1.3 billion people with a combined gross domestic product of US$ 3 trillion.
