SACU important to UK
UK trade minister Mark Price says that his country wants as little trade disruption as possible as it formally exits the European Union.
Southern African Customs Union trade ministers this week met with their British counterpart, Mark Price, to deliberate on post-Brexit trade matters.
The United Kingdom is in the process of exiting the European Union.
The SACU ministers welcomed the UK's intention to avoid disruption for its trading partners as it withdraws from the EU according to SACU spokesperson, Kungo Mabogo.
The UK re-affirmed its commitment to the trade arrangement under the current European Union, the Southern African Development Community Economic Partnership Agreement, and to maintain current market access to the UK following its withdrawal from the EU, and to ensure continuity of the effects of the EU-SADC EPA.
The two sides agreed to continue discussions to explore ways to ensure that the existing trade arrangement between the UK and SACU currently governed by the EU-SADC EPA will not be disrupted by the UK's departure from the EU.
Talks are likely to focus on steps to agree to an arrangement that replicates the effects of the EPA once the UK has left the EU. This would be a technical exercise to ensure continuity in the trading relationship, rather than an opportunity to renegotiate existing terms.
The Economic Partnership Agreement (EPA) between the SADC EPA countries comprising of Botswana, Lesotho, Namibia, Mozambique, South Africa and Swaziland and the European Union EU was signed on 10 June 2016 in Kasane, Botswana.
The EU-SADC Economic Partnership Agreement provisionally entered into force between the SACU countries and the EU on 10 October 2016. While the UK remains a member of the EU, the EU-SADC EPA will continue to apply to trade between the SADC EPA countries and the UK.
Given Mozambique's participation in the SADC EPA, the trade ministers agreed to continue discussions on how best to work with Mozambique, in order to ensure continuity of the EPA for all partners.
STAFF REPORTER
The United Kingdom is in the process of exiting the European Union.
The SACU ministers welcomed the UK's intention to avoid disruption for its trading partners as it withdraws from the EU according to SACU spokesperson, Kungo Mabogo.
The UK re-affirmed its commitment to the trade arrangement under the current European Union, the Southern African Development Community Economic Partnership Agreement, and to maintain current market access to the UK following its withdrawal from the EU, and to ensure continuity of the effects of the EU-SADC EPA.
The two sides agreed to continue discussions to explore ways to ensure that the existing trade arrangement between the UK and SACU currently governed by the EU-SADC EPA will not be disrupted by the UK's departure from the EU.
Talks are likely to focus on steps to agree to an arrangement that replicates the effects of the EPA once the UK has left the EU. This would be a technical exercise to ensure continuity in the trading relationship, rather than an opportunity to renegotiate existing terms.
The Economic Partnership Agreement (EPA) between the SADC EPA countries comprising of Botswana, Lesotho, Namibia, Mozambique, South Africa and Swaziland and the European Union EU was signed on 10 June 2016 in Kasane, Botswana.
The EU-SADC Economic Partnership Agreement provisionally entered into force between the SACU countries and the EU on 10 October 2016. While the UK remains a member of the EU, the EU-SADC EPA will continue to apply to trade between the SADC EPA countries and the UK.
Given Mozambique's participation in the SADC EPA, the trade ministers agreed to continue discussions on how best to work with Mozambique, in order to ensure continuity of the EPA for all partners.
STAFF REPORTER
Comments
Namibian Sun
No comments have been left on this article