Sihlobo: Expanding markets key for SA’s agricultural sector
South African citrus, grapes, wine and fruit juices have been the topic of discussion at most dinner tables lately as industry stakeholders contemplate what the official removal of the African Growth and Opportunity Act (AGOA) could mean. Under the preferential trade deal with the United Staes, around two thirds of South African exports to the US benefited from the free trade area deal. To discuss the implications for the local agricultural industry in a post AGOA world, CNBC Africa is joined by Wandile Sihlobo, Chief Economist, Agricultural Business Chamber of South Africa (Agbiz).
Mon, 07 Apr 2025 15:08:57 GMT
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AI Generated Summary
- South Africa faces uncertainty post-AGOA as discussions on the removal from the trade agreement intensify, impacting key export industries such as citrus, grapes, wine, and fruit juices.
- Market expansion and diversification are crucial strategies for the agricultural sector to mitigate potential trade disruptions and secure long-term sustainability.
- Engagement with the U.S. and exploration of new export destinations, including the EU and other global markets, are vital for South Africa to maintain its competitive edge and adapt to evolving trade dynamics.
South African citrus, grapes, wine, and fruit juices have been at the center of discussions lately as industry stakeholders grapple with the implications of South Africa's removal from the African Growth and Opportunity Act (AGOA). The preferential trade deal with the United States allowed around two-thirds of South African exports to benefit from the free trade area agreement. With the potential removal from AGOA looming, the local agricultural industry faces uncertainty and challenges in navigating post-AGOA trade dynamics. Wandile Sihlobo, the Chief Economist at the Agricultural Business Chamber of South Africa (Agbiz), shed light on the possible outcomes and strategies for the industry in a recent interview with CNBC Africa. Sihlobo emphasized the importance of expanding markets and diversifying export destinations to mitigate the impact of potential trade disruptions. He highlighted the significance of trade agreements and the need for a strategic approach to secure South Africa's position in the global agricultural market. The interview provided valuable insights into the complexities and opportunities facing South Africa's agricultural sector in a rapidly evolving trade landscape. From engaging with the U.S. to exploring new markets, the industry is poised to adapt and thrive amidst challenges and uncertainties.
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