Davies still chipper on Agoa

12 October 2015 - 02:28 By Bloomberg

South Africa will probably retain duty-free access for exports to the US worth as much as $1.7-billion (about R22.7-billion) a year under the Africa Growth and Opportunity Act, Trade and Industry Minister Rob Davies said at the weekend. Citing a letter from the US trade representative, Davies said: "I am confident that we are on track to keep us in Agoa. The issues that are going to be central to their decisions on the outer-cycle review are related to the three meats. These were about the importation of 65000t of poultry, and regulations on pork and on beef."The US is reviewing South Africa's status as a full beneficiary of a preferential trade pact that eliminates import levies on more than 7000 products ranging from textiles to manufactured items. The accord was renewed in June for another 10 years, benefiting 39 African nations.To remain a beneficiary, countries are required to eliminate barriers to US trade and investment, operate a market-based economy, protect workers' rights and implement economic policies to cut poverty.US trade officials have threatened to withdraw support for SA funding applications to the International Monetary Fund and World Bank if certain clauses outlined in a proposed security industry regulation bill are not reviewed. ..

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