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South Africa

South Africa

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South Africa has signed several agreements with its trading partners in recent years. South Africa maintains a number of bilateral and regional trade and investment agreements with African countries, as well as key international partners, in terms of the Customs and Excise Act, 1964. The country is also a beneficiary of a number of non-reciprocal trade arrangements, including the African Growth and Opportunity Act and the Generalised System of Preferences.

South Africa is a founding member of the Southern African Customs Union (SACU) and the Southern African Development Community (SADC). The country participated in negotiations which led to the signing of the COMESA-EAC-SADC Tripartite Free Trade Area (TFTA) in June 2016 and is currently engaged in the negotiations towards the conclusion of a Continental Free Trade Area (CFTA). South Africa also engages with fellow members of the so-called BRICS (Brazil, Russia, India, China and SA) in various economic and trade-related areas.

At the national level, South Africa’s industrialisation and employment-generation strategy aims to encourage entrepreneurship, although success has been limited due to inadequate technical and business management skills; lack of experienced mentoring of entrepreneurs; barriers to business entry; and lack of access to finance. To find out more about the Government’s national development priorities and plans, visit the Planning, Monitoring and Evaluation Department website.

Last updated: April 2018