SA to finalise new trade policy

South Africa’s Department of Trade and Industry (dti) is set to finalise a new trade policy for the country to guide bilateral and multilateral negotiations and provide a model for integration in the Southern African Development Community (SADC) region, according to tralac. There has been criticism that South Africa lacked a coherent trade policy, but the department opted to first finalise its industrial policy framework before work began on the trade policy, believing that the former should inform the latter. The dti is nearing the completion of the trade policy formulation process, chief director in the department Mzukisi Qobo, who has been tasked with the development of the trade policy, said last week. As part of formulation of the comprehensive new trade policy, the International Trade Administration Commission (Itac) is doing a separate overhaul of the tariff book.