South Africa’s car and truck industry is currently worth about 8% of Gross Domestic Product, or somewhere in the region of R400-billion. About half the African continent’s cars are made in SA, all by the operations of the seven huge multinationals that operate locally. So a threat to the industry is serious stuff.
To counter this fraud, exporters must achieve a certain level of local origination for something to be classified “Malawian”. So now let’s assume a no-deal Brexit. From that point onwards, whatever was produced in the UK no longer qualifies as originating in Europe, so it cannot be considered as part of the local origination formula.
But, you could argue, the chance of a no-deal Brexit is small, probably around 40%. So what if there is a Brexit deal? The problem here, says MacKay, is that you just don’t know what the Brexit deal will look like. If there is a deal, it’s likely that there will be a certain amount of time to negotiate these issues. “There will be some breathing space, and that will be very positive.”
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