SA exports to EU rocket

Leonard Neill
EXPORTS FROM South Africa to the European Union under the free trade agreement have risen in effect by 50% in the past two years, says EU ambassador to South Africa Michael Lake.
This means that this country has overtaken important competitors like Algeria, Saudi Arabia, Malaysia and Singapore in trade with the EU, he said.
Two-way trade between the two regions has shown a remarkable growth despite the slowdown in EU trade with the rest of the world, and as the EU expands, so South Africa will benefit from its improved trading position and thus reinforce its claim for investment, said Lake.
In 2000, the first year of the trade agreement, exports from this country increased by 35%. EU imports fell slightly worldwide as a result of the slowing global economy last year, but South Africa's exports to the region managed to grow a further 11%.
Lake says that according to statistics South Africa's trade surplus with the EU grew from R6 billion in 1999 to R17 billion in 2000 and R30 billion last year.