SABC News - Trade and Industry welcomes re-admission into Agoa:Tuesday 15 March 2016

Trade and Industry welcomes re-admission into Agoa

Tuesday 15 March 2016 15:52

SABC

The DTI says the country's agricultural sector will earn about $170 million over the next ten years.

The DTI says the country's agricultural sector will earn about $170 million over the next ten years.(SABC)

The Department of Trade and Industry has welcomed South Africa's re-admission into Agoa.  

It was reacting after United States President Barack Obama formally re-instated South Africa's duty-free access to the American market under the African Growth and Opportunity Act, ending a long saga.  

The DTI says the country's agricultural sector will earn about $170 million over the next 10 years as a result.

Critics argue that the 10 year agreement allowing cheap US imports in poultry will kill off local industries.  

However, DTI Deputy Minister Mzwandile Masina, who's in Harare, Zimbabwe on a mission to shore up trade, believes South Africa's national interests in that sector will be protected.

Meanwhile, United States President Barack Obama has issued a proclamation revoking the impending suspension of South Africa's benefits under a US-Africa free trade deal.

Obama had threatened to revoke on Monday the duty-free status of South African exports under the African Growth and Opportunity Act in retaliation for South Africa's restrictions on US beef, pork and poultry imports.

The White House says South Africa has met the benchmarks for trade deal benefits.

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