Macron victory secures SA trade relationship

The election of pro-Europe

liberal centrist candidate

Emmanuel Macron as the new

French president has been

widely welcomed as good news

for South African traders.

His business-friendly vision

of European integration

triumphed over far-right

nationalist Marine Le Pen,

who threatened to take France

out of the European Union.

The 66.1% margin was a

resounding victory.

Should Le Pen have

succeeded in her Frexit plan,

analysts said this could have

spelled the “beginning of the

end” for the EU as it would

have lost its second largest

member. Britain – which is the

trade bloc’s largest member

– has already triggered

legislation to exit the EU.

European commission

president, Jean-Claude

Juncker, tweeted his delight

succinctly: “Happy that

the French have chosen a

European future.”

Should the EU disband,

the Southern African

Development Community

(SADC)/European Union

Economic Partnership

Agreement – which has fully

or partially removed customs

duties on 98.7% of imports

coming from South Africa –

would be null and void. South

Africa would therefore have

to re-negotiate all preferential

trade agreements with every

member of the EU, including

France and Germany.

CAPTION

Newly elected French president Emmanuel Macron has vowed

to unite his “fractured” country.