WINDHOEK, Trade ministers from member nations of the Southern African Customs Union (SACU) have held discussions with a British Minister on ways of ensuring that bilateral trade relations are not isrupted after Britain exits the European Union, or Brexit.
The discussions with British Minister of State at the Department for International Trade Mark Price in Johannesburg Wednesday ended with an agreement to continue discussions to explore ways of ensuring that Brexit does not disrupt the existing trade arrangements between London and the SACU.
The trade arrangements between SACU and Britain are governed by the EU-SADC Economic Partnership Agreement (EPA).
A joint statement issued by the British High Commission (Embassy) in Namibia said the ministers welcomed Britain’s intention to avoid trade disruption during Brexit. During the meeting, Britain re-affirmed its commitment to the trade arrangement under the current EU-SADC EPA and vowed to maintain market access following its withdrawal from the EU.
Talks are likely to focus on steps to agree on an arrangement that replicates the effects of the EPA once Britain has left the EU, said the joint statement. “This would be a technical exercise to ensure continuity in the trading relationship, rather than an opportunity to renegotiate existing terms,” it added.
Source: NAM NEWS NETWORK