Guest Contributor | Jan 17, 2023 | 0
SACU’s economic partnership agreement with UK officially commences
The Economic Partnership Agreement between the SACU Member States (Botswana, Eswatini, Lesotho, Namibia and South Africa) and Mozambique on the one part, and the United Kingdom
of Great Britain and Northern Ireland on the other part (SACUM-UK EPA), entered into force on 1 January 2021.
The agreement came into force following the end of the UK’s transition period and the deposit of the instruments of ratification by all the Parties to the SACUM-UK EPA. The agreement was first signed on the on 9 October 2019 in London and then signed on October 2019 in Cape Town.
The SACUM-UK EPA establishes a free trade area between the SACU Member States and Mozambique (SACUM) and the UK and replicates the effects of the Economic Partnership
Agreement between the European Union and the Southern African Development Community States (EU-SADC EPA) signed on 10 June 2016.
In this regard, Paulina Elago, SACU’s Executive Secretary said it replicates the preferential tariff treatment of the EU-SADC EPA, with the exception of the volume limitations on Tariff Rate Quotas.
“The entry into force of the SACUM-UK EPA will provide for the continuity of trade between the UK and the SACU Member States and Mozambique as the UK ceases to be a Member of the
EU single market and customs union,” Elago said.
The Agreement solidifies the strong trade relations and partnership between the Parties. It also reflects the commitment of the Parties to maintain a strong trading relationship as the UK develops its independent trade policy.