Times Of Swaziland: BRITAIN PM ASSURES ESWATINI OF QUOTA, DUTY FREE MARKET

BRITAIN PM ASSURES ESWATINI OF QUOTA, DUTY FREE MARKET
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BY KWANELE DHLADHLA  on 29/08/2018 03:01:00


MBABANE – Britain Prime Minister (PM) Theresa May has assured Eswatini of
continued access to the British market.
May guaranteed the kingdom that even after the UK leaves the European Union (EU)
trade bloc, all terms contained in the European Partnership Agreement (EPA)
would continue to be existent.
Others countries that will enjoy the same benefit will be Mozambique, Botswana,
Lesotho, Namibia and South Africa, according to the Daily Mail which reported on
the PM’s visit to Cape Town as part of a three-day tour of South Africa, Kenya
and Nigeria.
The EPA, which came into force on October 1, 2016, guarantees 100 per cent free
access to the EU market. Under this trade agreement, the EU liberalised 9 600
products which could be exported by qualifying countries. The exports to the EU
are quota free and duty free.
Eswatini’s main exports to the EU include sugar, wood pulp, beef and animal
products, vegetables, fruits and miscellaneous edibles. However, it should be
mentioned that the Swaziland Sugar Association (SSA) recently reported that
Eswatini sugar sales to the European Union (EU) fell by 36 per cent.
SSA said this was both as a result of loss in value in that market as well as
the abolition of the EU production quotas in October 2017, which led to the EU
market becoming self-sufficient.
Ministry of Commerce, Industry and Trade Principal Secretary Siboniso Nkambule
asked not to immediately respond to May’s assurance until such time when he
has seen or heard the PM’s comments. “I have been in a meeting for the
better part of the day. I will comment when I have seen the article,” briefly
said Nkambule.
Federation of the Swaziland Business Community (FESBC) President Tum Du Pont
appreciated the assurance given by May for the country to continue trading with
the Britain. He urged government to formally update the business community on
the latest developments with a view to empower them as to how they could fully
utilise the available business community.
“We urge government to also take it upon themselves to provide us with all the
essential information as to how we will be expected to trade with Britain when
it eventually leaves the EU,” said Du Pont.
It should be mentioned that the processing of an E84 million cash injection,
which could greatly improve Eswatini businesses access to exporting goods and
services to the EU, purely rested on the formulation of an all encompassing EPA
trade facilitation strategy.