The International Trade Council is pleased to announce that the UK has signed an economic partnership agreement with the Southern African Customs Union and Mozambique (SACU+M). The agreement ensures continued free trade between the UK and South Africa, Botswana, Lesotho, Namibia, Eswatini, and Mozambique after Brexit.
Businesses in both regions will benefit from preferential terms, allowing the UK to export products like machinery, mechanical appliances, motor vehicles, and beverages, including whisky. In 2018, these exports were valued at £409 million, £335 million, and £136 million, respectively. In return, the UK imports fruit, nuts, and motor vehicles worth £547 million and £409 million from these African nations.
Liz Truss, International Trade Secretary, highlighted the importance of the agreement, stating, "This is a major milestone as the UK prepares to become an independent trading nation once again, and we are helping businesses get ready to trade with the most exciting markets around the world."
The International Trade Council encourages the establishment of strong, mutually beneficial partnerships worldwide and supports initiatives that maintain and expand global trade opportunities for all nations.