What are the implications for trade between SA and the UK if Brexit goes ahead?

Minister Trade & Industry Rob Davies says if the UK leaves the European Union with no agreement in place, this could impact South Africa's trade and exports - especially duties on products like sugar and automotive vehicles.

British Prime Minister Theresa May will meet with German and French leaders Angela Merkel and Emmanuel Macron on Tuesday, as she aims to find a solution to the current Brexit deadlock.

This is ahead of Wednesday's crucial EU summit.

She is expected to ask for another delay to Brexit.

Davies says if the UK agrees on a withdrawal agreement - the 'Theresa May agreement', then they will have until the end of 2020 to negotiate an agreement with the European Union during which time things will remain the same.

We have with the EU and UK, an economic partnership agreement and that provides a free trade agreement between ourselves and the EU. Only a crash out or hard Brexit would affect that. If they have a withdrawal agreement, what is called the Theresa May agreement, then they would have until the end of 2020 to negotiate an agreement...during which time all the agreements the EU has with third parties would continue to apply.

Rob Davies, Minister Trade & Industry

So if the withdrawal agreement goes through, the status quo remains and our sugars and autos would remain trading with the British on the same terms until they negotiate.

Rob Davies, Minister Trade & Industry

If they are not able to reach any agreement and Friday late evening happens, then they will leave the EU with no agreement in place and in that case, the British government has published a notice of the tariffs they will apply for one year after that and that notice for us would not carry any duties at all. There would be no interruptions, but among the 469 lines, there are sugar and automotive products so there would be some interruptions .

Rob Davies, Minister Trade & Industry

We continue to negotiate and make progress. I think a lot of effort is being put into trying to avoid a hard Brexit on Friday.

Rob Davies, Minister Trade & Industry

Click on the link below to hear more from Davies....


Recommended

by NEWSROOM AI
Read More
[LISTEN] Mozambique braces itself for another cyclone

[LISTEN] Mozambique braces itself for another cyclone

Cyclone Kenneth is expected to make landfall in the the southern African country and in Tanzania on Thursday.

Former EFF MP says he is being threatened after accusing Malema of abusing funds

Former EFF MP says he is being threatened after accusing Malema of abusing funds

Karima Brown spoke to former EFF MP Zolile Xalisa in a pre-recorded interview on Wednesday.

[LISTEN] SABC board won't divulge details on charges brought against former COO

[LISTEN] SABC board won't divulge details on charges brought against former COO

Chris Maroleng has been axed as the public broadcaster's COO following the findings of an independent disciplinary inquiry.

Is a third-party insurance in place of the Road Accident Fund a better idea?

Is a third-party insurance in place of the Road Accident Fund a better idea?

The transport department has announced that it intends to scrap the embattled Road Accident Fund for a new scheme.

[LISTEN] Who has been funding SA's political parties?

[LISTEN] Who has been funding SA's political parties?

Gushwell Brooks, standing in for Karima Brown, spoke to to My Vote Counts (MVC) Political systems researcher Zahira Grimwood.

 Public Works clarifies reports on millions set to be spent on building upgrades

Public Works clarifies reports on millions set to be spent on building upgrades

The department says only a portion of the estimated R750 million will be spent on ministerial houses.

Popular articles
Meet Woolies slayer Shannon McLaughlin, founder of Ubuntu Baba Baby Carrier

Meet Woolies slayer Shannon McLaughlin, founder of Ubuntu Baba Baby Carrier

Ray White interviews McLaughlin, about three months after she shot to fame for taking on the alleged copycat, Woolworths.

Foreigners rule informal trading (outcompeting even Shoprite). Consumers win!

Foreigners rule informal trading (outcompeting even Shoprite). Consumers win!

About 20% of every rand spent in South Africa goes to informal stores, mostly foreign-run. GG Alcock on his book “KasiNomics".

Land Party threatens country shutdown if King Dalindyebo not released

Land Party threatens country shutdown if King Dalindyebo not released

Gcobani Ndzongana takes issue with Clement Manyathela on The Xolani Gwala Show for referring to the monarch as convicted criminal