SA agricultural sector could be boosted by African free-trade agreement

SA’s agricultural sector could receive a major boost when the African free-trade zone becomes operational in July 2020.

“This would practically mean an increase in the share of South Africa’s agricultural exports to the continent, rather than mainly focusing on growing other well-established markets,” said Agbiz chief economist Wandile Sihlobo.agreement that aims to create a single market for goods and services, with free movement of businesspeople and investments. With about 1.

He highlighted, however, the African continent is beset by other systemic problems, such as poor quality or lack of infrastructure, unconducive business environments that make trade across borders particularly costly and nearly prohibitive, corruption and weak institutions which render legal recourse and dispute settlements redundant, among issues.

Overall, the free-trade area will not be a one-way street, and other economies will benefit, said Sihlobo.“SA remains an importer of poultry meat, rice, wheat, sugar, palm oil, soybeans, beer, fish, sunflower oil, soybean oilcake and tobacco, among other agricultural commodities. Ideally, African countries can also have room to participate in the South African market by supplying these products,” said Sihlobo.

WandileSihlobo The great word from bussiness day, could be, cows could fly at noon and I could catch the lotto even if I never bought a ticket, bullshit sells papers

The richest country Nigeria doesn’t like this agreement one bit.

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Source: City_Press - 🏆 7. / 72 Read more »