Not a train crash if SA is expelled from Agoa, says Absa
US export barriers are quite small, even under the WTO’s most favoured nation regime
11 October 2023 - 05:00
Absa Bank, one of SA’s big four, says if SA were to be expelled from the African Growth and Opportunity Act (Agoa), the action would have a limited direct macroeconomic impact on the country as most of SA’s exports to the US already have a zero or nominal duty under a separate World Trade Organisation (WTO) agreement.
The bank released its Insight macroeconomic report on Tuesday and said while the risk of expulsion from Agoa is small, if SA were to lose its privileges, exports to the US already have a zero or nominal duty under the most favoured nation (MFN) regime under the WTO...
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