SA’s Illicit Economy Costs R100 Billion Annuall

SA’s Illicit Economy Costs R100 Billion Annuall

In South Africa, Minister of Trade, Industry and Competition, Parks Tau, says the illicit economy is costing South Africa 100-billion-rand annually, undermining industrialisation and job creation. Tau highlights importers' practices like under-declaring goods' value and misusing rebates, affecting local manufacturers. He says an Inter-Agency Working Group has been formed, focusing on scrap metal, gold, clothing, textiles, footwear, and leather to combat this:

August 1, 2024 16

South Africa

South Africa and US Revive Trade Agreemen

S.A's Trade, Industry and Competition minister, Parks Tau says South Africa and the US have agreed to the revival of the bilateral Trade and Investment Framework Agreement. This will be in addition to the African Growth and Opportunity Act, which is due to expire next year. Tau says he is confident that South Africa does not stand the risk of being excluded from AGOA, which exempts certain African countries from […]

July 31, 2024 21

South Africa

Transparent Trade Practices Crucial for Sustainable Growth: S.A’s Trade Minister

S.A's Trade, Industry and Competition minister, Parks Tau says transparent trade practices and adherence to development goals are crucial for sustainable growth. He briefed the media on the outcomes of the 21st African Growth and Opportunity Act forum in Washington DC, in the United States which he led alongside one of his deputies, Andrew Whitfield. The other deputy, Zuko Godlimpi, attended the BRICS Trade ministers meeting in Moscow. Tau emphasised […]

July 31, 2024 20