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Zuma to discuss trade deficit with EU
July 17, 2013, 8:28 am

[AP]

South Africa’s trade with the EU has fallen from R419 billion in 2008 to R383 billion in 2013 [AP]

Falling South African exports to the European Union (EU) will be one of the key talking points during the upcoming South Africa-EU summit.

The sixth South Africa-European Union summit will be held in Pretoria on Thursday.

President Jacob Zuma will lead the South African delegation and will hold talks with European Council President Herman van Rompuy and EU Commission President Jose Manuel Barroso.

Key peace and security topics in Africa and beyond will be discussed along with global governance, climate change, trade and development issues, according to an EU press release.

South Africa’s trade with the EU has fallen from R419 billion in 2008 to R383 billion in 2013, with a trade deficit that has doubled during the period.

“What this meant was that the trade balance has grown from minus R47 billion in 2008 to minus R95 billion in 2012,” Trade and Industry Minister Rob Davies said earlier this week.

A proposed economic partnership agreement (EPA) between the two sides that seeks to give preferential access to South African agricultural goods in the EU will also be pushed by the African nation during the summit.

Davies also said there are other issues to resolve between the two sides.

“There are still some outstanding matters of give and take,” said the minister.

Source: Agencies

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