SACU EXPANDED FREE TRADE AGREEMENT TALKS INTENSIFY

MBABANE - EFTA and SACU are continuing with negotiations for an updated and expanded free trade agreement.

The Southern African Customs Union (SACU) consists of Botswana, Eswatini, Lesotho, Namibia and South Africa with whom European Free Trade Association (EFTA) signed a free trade agreement in 2006 which the two trade blocks now seek to update and expand.

Experts

According to press release from SACU; this past week senior officials and experts from SACU and EFTA member States met through videoconference between last Wednesday and Thursday to continue their negotiations on an updated and expanded free trade agreement. “Lars Erik Nordgaard, Chief Negotiator at the Norwegian Ministry of Trade, Industry and Fisheries acted as the EFTA Spokesperson, while Ambassador Xavier Carim, Deputy Director General, Department of Trade, Industry and Competition of South Africa, headed the SACU delegation,” reads the correspondence in part.

Development

The review process covers trade in goods, rules of origin, trade facilitation and trade and sustainable development. “The delegations informed each other on domestic developments that happened since the last round, including the economic impact of the COVID-19 pandemic and uneven recoveries. “They exchanged views on the steps needed to move the review process forward and took stock of all issues outstanding under review in a constructive fashion showing their willingness to take the negotiations forward. Follow-ups to be completed before the parties meet again during the first semester of 2022 were agreed,” shared SACU. Meanwhile, EFTA’s main exports include pharmaceuticals, ships and vessels, machinery and mineral fuel, while imports include aluminium, vehicles and nickel, as well as fruits, nuts and meat.

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