Pressure from the West is growing on the South African government because of its close ties to Russia – with potentially painful economic consequences.
Fresh from a visit to the heavyweight of Europe, German Chancellor Angela Merkel, the Presidency officially confirms that on Wednesday Jacob Zuma chatted to the Leader of the Free World, Barack Obama.
South African Chamber of Commerce and Industry is very concerned by the statement made by the President of the United States that serious consideration is being given to excluding South Africa from several AGOA benefits with an ultimatum of 60 days being given to address the impasse over chicken imports.
The US has given South Africa 60 days before the AGOA suspension comes into effect. The Democratic Alliance says this mess-up has happened on Rob Davies’ watch, and its consequences are entirely on his hands.
The US’s Africa Growth and Opportunity Act, signed into law by President Bill Clinton in May 2000, was a political move with good intentions – offering a helping hand to the continent.
Under AGOA, which is up for renewal in late 2015, as much as 90 percent of SA’s exports enter the United States duty-free. They are now under threat.
A U.S. decision to exclude Swaziland from the African Growth and Opportunity Act will damage the country’s economy and cost 20,000 jobs, according to billionaire Natie Kirsh.
South Africa’s Trade Deficit widened to R21-billion for October and that was from a revised R3bn shortfall in September. It is the highest it has been in four years, to discuss the overall trend, Alec Hogg was joined by Frans Cronje, the CEO of SAIRR.
It seems that America has just woken up to realise that Africa is the next destination in terms of growth, development, investment and economic opportunity. Where China has been making strong inroads into the continent, America has been playing a much lesser role. The start of the US-Africa Summit marks the US’s acknowledgment of beginning … Read more
By Lesley Wroughton WASHINGTON (Reuters) – The United States will announce nearly $1 billion in business deals, increase funding for peacekeeping and commit billions of dollars to expanding food and power programs in Africa during a summit this week, U.S. and development officials say. U.S. officials said the Aug. 4-6 summit in Washington of nearly … Read more