New EU deal will boost local jobs, parly hears

Cape Town - The recently signed partnership between the European Union (EU) and seven of the Southern Africa Development Community member states will go a long way to create new job opportunities, said the ANC's Joanmariae Fubbs in the National Assembly on Tuesday.

Fubbs, who is chairperson of the portfolio committee on trade and industry, was introducing the new economic partnership agreement (EPA) between the EU and the SADC countries for ratification by parliament.

The new EPA replaced the former Trade Development and Cooperation Agreement (TDCA) with the EU, which had less favourable terms than the new agreement.

“It’s great news,” Fubbs said, “as it’s  replacing the chapter on trade in the TDCA. The new agreement will enable South Africa to increase exports of value-added products to the EU, which is South Africa’s largest trading partner.”  

All of the former issues of access and duty preferences have been improved upon, she added. The terms for sugar exports are particularly favourable as the new agreement would allow South Africa to export 150 000 tonnes of sugar to the EU.

The DA’s spokesperson on trade and industry Geordin Hill-Lewis, said the new EPA would give South Africa “unfettered access to the world’s biggest trading block.”

Hill-Lewis said the agreement put forward the case for a much more confident trade policy. “In difficult times like these there’s a tendency to become protectionist and inward-looking. But the drift towards protectionism is self-defeatist. It leaves us poorer and shrinks the market.”

Floyd Shivambu, EFF spokesperson on trade and industry asked what purpose the short debate on the EPA served, as the agreement had already been signed in June.

“[Instead of debating this] we should rather discuss how these agreements are entered into,” Shivambu said. “We’re just a rubber stamp. There should rather be a discussion about all these agreements we have. These things are already operational. It’s not like we’re doing anything new here.” 

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
18.15
-0.8%
Rand - Pound
20.13
-0.2%
Rand - Euro
17.68
-0.3%
Rand - Aus dollar
11.55
-0.0%
Rand - Yen
0.12
-0.6%
Gold
1,694.80
-1.1%
Silver
20.13
-2.6%
Palladium
2,192.88
-3.1%
Platinum
916.50
-1.0%
Brent Crude
94.42
+1.1%
Top 40
59,280
-0.2%
All Share
65,676
-0.2%
Resource 10
63,294
+0.0%
Industrial 25
79,505
-0.7%
Financial 15
14,072
+0.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders