EU duty concessions will continue until new pact is finalised

THE DUTY concessions under the European Union (EU) GSP (general sales preference) system for SA have continued - despite official termination at end-December.
This, said Riaan de Lange, manager of the customs and international trade consultancy in Deloitte Touche, is a filler, before the free trade pact currently being negotiated is put into place.
Once the pact is finalised, the concessions under GSP will be merged into the new agreement.
This latest phase of GSP is due to run until mid-year - but can be expected to be automatically re-introduced after that, if the pact has not been finalised by then.
But the mid-year date might also suggest that the EU is keen to see the trade agreement - whose birth has laboured on into
its fourth year - signed and sealed before then.