South Africa–European Union relations

Euro-South African relations

European Union
South Africa

South Africa has strong cultural and historical links to the European Union (EU) (particularly through immigration from the Netherlands, the United Kingdom, Germany, France, and Greece) and the EU is South Africa's biggest investor.[1]

Agreements

Since the end of South Africa's apartheid, EU South African relations have flourished and they began a "Strategic Partnership" in 2007. In 1999 the two sides signed a Trade, Development and Cooperation Agreement (TDCA) which entered into force in 2004, with some provisions being applied from 2000. The TDCA covered a wide range of issues from political cooperation, development and the establishment of a free trade area (FTA).[1] The liberalisation schedules were completed by 2012.[2] Since the signing of the Agreement, trade in goods between the two partners has increased by more than 120%, and foreign direct investment has grown five-fold.[2]

Trade

South Africa is the EU's largest trading partner in Southern Africa and has a FTA with the EU. South Africa's main exports to the EU are fuels and mining products (27%), machinery and transport equipment (18%) and other semi-manufactured goods (16%). However they are growing and becoming more diverse. European exports to South Africa are primarily machinery & transport equipment (50%), chemicals (15%) and other semi-machinery (10%).[2]

EU – South Africa trade in 2013[2]
Direction of trade Goods Services Investment stocks
EU to South Africa €24.5 billion €7.2 billion €41.8 billion
South Africa to EU €15.6 billion €4.5 billion €7.7 billion

See also

References

  1. 1 2 South Africa, European External Action Service
  2. 1 2 3 4 Bilateral relations South Africa, European Commission
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