The South African government is scrambling to nail down a free trade deal with the UK before Brexit.
He said the talks would have to wait until Friday so that South Africa could first get a clearer picture of Britain’s relationship to the EU. British Prime Minister Theresa May faces two crucial Brexit votes in Parliament before Friday. On Tuesday Parliament rejected her revised plan for an orderly withdrawal from the EU. On Wednesday night Parliament was due to vote on whether or not the UK should withdraw from the EU with no deal – the so-called “hard Brexit” option.
But it was not possible to do this completely. For example, he said, South Africa did not have duty-free and quota-free access to the EU market for all of its exports. SA agricultural products especially incur duties and quotas because some EU member states also make those products. The problem is, when the UK leaves the EU, whether products made in the UK which include EU components will still qualify for duty-free access to the SACU-Mozambique market and whether products made in the SACU-Mozambique countries which include EU components will still qualify for duty-free access into the UK market.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IOL - 🏆 46. / 51 Read more »