Cape Town – Cabinet on Wednesday approved an economic partnership agreement (EPA) be submitted to Parliament that will establish a single trade regime between the Southern African Customs Union (Sacu) and the European Union (EU).
The agreement will enhance South Africa’s preferential access to the EU market for a range of agricultural products such as sugar, ethanol, wine, fisheries and fruit, Minister in the Presidency Jeff Radebe said in a statement on Thursday.
The EPA builds on the Trade and Development Cooperation Agreement (TDCA) that South Africa concluded in 2000 with the EU.
“The EPA provides South Africa with additional policy space in several areas,” he said. “South Africa also negotiated a bilateral Protocol on Geographical Indicators with the EU, due to growing interest in protecting wine names and specialised agricultural product names.
“As such, 102 wine names will be protected under the agreement and three agricultural product names namely Rooibos, Honeybush and Karoo Lamb.”
He said the agreement is in line with the National Development Plan's objectives that South Africa advances industrialisation and promotes South African exports into the EU market.
“Most importantly, the EPA promotes the development of regional value chains in Africa thus contributing to regional integration.”