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Free Trade Agreements of South Africa
Today I’m going to talk about free trade agreements and interest rate of South Africa. I tried to find some currency agreements on the
As we know, South Africa with many other countries have trade agreements, but the most important is the free trade agreements. Next, I'll tell you about the contents of these three agreements.
1: Southern African Development Community (SADC) FTA
Between 12 SADC Member countries: The content of the agreement is: with 85% duty-free trade achieved in 2008. The 15% of trade, constituting the "sensitive list", is expected to be free from 2009 to 2012 when SADC attains the status of a fully-fledged FTA with almost all tariff lines traded duty free.
2: Trade, Development and Cooperation Agreement (TDCA)
It is South Africa with the European Union : The content of the agreement is: EU is SA's biggest trading partner accounting for 30% of all trade. The EU offered to liberalise 95% of its duties on South African products by 2010. In turn, by 2012, South Africa offered to liberalise 86% of its duties on EU products.
3: EFTA-SACU Free Trade Agreement (FTA)
SACU and the European Free Trade Association (EFTA) -Iceland, Norway and Switzerland: The content of the agreement is: Tariff reductions on selected goods
Advantage:
The free trade agreement through reducing transaction costs and distribution costs through trade liberalization and facilitation. Ultimately promote the development of international trade.
Free trade agreements to promote international investment to optimize the industrial structure and resource allocation. The free trade agreement to promote economic cooperation relationship between member countries.
Strengthen the commonality of interest of the world economy have a positive impact on the world political integration process through peaceful means.
Disadvantage:
The opening of an economy to world trade automatically puts local manufacturers at risk of steep competition from cheap
Today I’m going to talk about free trade agreements and interest rate of South Africa. I tried to find some currency agreements on the
As we know, South Africa with many other countries have trade agreements, but the most important is the free trade agreements. Next, I'll tell you about the contents of these three agreements.
1: Southern African Development Community (SADC) FTA
Between 12 SADC Member countries: The content of the agreement is: with 85% duty-free trade achieved in 2008. The 15% of trade, constituting the "sensitive list", is expected to be free from 2009 to 2012 when SADC attains the status of a fully-fledged FTA with almost all tariff lines traded duty free.
2: Trade, Development and Cooperation Agreement (TDCA)
It is South Africa with the European Union : The content of the agreement is: EU is SA's biggest trading partner accounting for 30% of all trade. The EU offered to liberalise 95% of its duties on South African products by 2010. In turn, by 2012, South Africa offered to liberalise 86% of its duties on EU products.
3: EFTA-SACU Free Trade Agreement (FTA)
SACU and the European Free Trade Association (EFTA) -Iceland, Norway and Switzerland: The content of the agreement is: Tariff reductions on selected goods
Advantage:
The free trade agreement through reducing transaction costs and distribution costs through trade liberalization and facilitation. Ultimately promote the development of international trade.
Free trade agreements to promote international investment to optimize the industrial structure and resource allocation. The free trade agreement to promote economic cooperation relationship between member countries.
Strengthen the commonality of interest of the world economy have a positive impact on the world political integration process through peaceful means.
Disadvantage:
The opening of an economy to world trade automatically puts local manufacturers at risk of steep competition from cheap