The Minister of Trade and Industry, Dr Rob Davies has arrived back in the country, following his visit to France and Egypt.
In France, Davies attended an informal World Trade Organisation (WTO) Ministers’ Meeting on the sidelines of the OECD Ministers’ Meeting. The WTO meeting was co-chaired by Australia and Kenya. The WTO Ministers’ Meeting discussed the post-Bali work programme and the upcoming 10th WTO Ministerial Council Meeting that will take place in Nairobi, Kenya, in December 2015.
Minister Davies also met with the South African and United States delegations who discussed the ‘AGOA Poultry Dispute’ on 4-5 June 2015 in Paris. The two day meeting was facilitated by the two governments with their respective industry associations resulted in a breakthrough after several months of industry-to-industry negotiations.
The agreement will secure the continued participation of South Africa in the reauthorised 2015 AGOA that is being extended by the US Congress for a further 10 years. According to the agreement, anti-dumping duties on a quota of 65 000 tonnes of US bone-in chicken imports into SA will be rebated 100% on an annual basis. The US bone-in chicken imports will still be liable for MFN (Most Favoured Nations) duties. The agreement will also open new opportunities for the historically disadvantaged individuals (HDIs).
In Egypt, Minister Davies led the South African delegation at the 3rd Summit of the Tripartite in Sharm el-Sheikh. The Summit launched the COMESA-EAC-SADC Tripartite Free Trade Area (TFTA) on 10 June 2015.
Minister Davies reiterates that the launch of the TFTA is an important milestone in the implementation of the development integration agenda in Africa, aimed at promoting market integration, industrial and infrastructure development.
“The establishment of the TFTA is not only a political vision but makes business sense. The creation of larger markets with greater critical mass will not only enhance the African investment proposition, it is also the only way Africa will compete effectively in the global economy. The TFTA is an important initiative in accelerating regional integration efforts aimed at ensuring that African countries trade with each other on terms, at least as favourable as other competitors,” says Minister Davies.
The Tripartite Free Trade Area (TFTA) creates a larger market of 26 countries, a combined population of up to 625 million people and a total gross domestic product (GDP) of $1.6 trillion.
Minister Davies signing the declaration launching the TFTA in Sharm el-Sheikh, Egypt.
Enquiries:
Sidwell Medupe
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za
