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FREE TRADE: SA companies could boost exports to EU by R350bn a year, research shows

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This ‘low-hanging fruit’ – sometimes quite literally – comprises products that can be exported to the EU duty-free.

South African companies are missing out on R350-billion a year in export opportunities to the European Union , new research shows.

He also noted that the EU was the world’s biggest investor, accounting for 40.3% of all foreign direct investments in 2020. These created more than 350,000 jobs. Martin Cameron, the MD of the company Trade Research Advisory, said research he had conducted with North-West University indicated that about R350-billion of short-term potential exports from SA to the EU under the EPA were being left on the table.

He found, for example, that although SA was already exporting quite a lot of iron and steel to Europe, Belgium-Luxembourg still offered R2.1-billion a year potential for exports of 45 relatively mature products, mostly iron and steel.He also found an untapped potential of R14-billion in exports of 19 different sorts of agricultural products from South Africa to the EU.

 

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Why talk about duty free export of food, when we were just threatened with looming food shortages? Oh that's right its manufactured scarcity. This is more free market clap trap.

nickhedley WandileSihlobo

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