History was made this Labour Day, as China’s southern Shenzhen Bay port cleared 24 tonnes of South African apples and central Hunan province processed 6,000 bottles of South African wine – the first time these goods had reached the Asian economic giant under a new zero-tariff arrangement.
The duty-free access for African partners from May 1, which saw the 10 per cent tariff rate for apples removed, arrived as a lifeline for South African exporters looking to diversify away from increasingly restrictive American trade channels.
Latest data from the South African Reserve Bank (SARB) shows the United States has lost its position as the No 2 export market to Germany, while long-time leader China held its top slot.
While US share of South African exports fell to a decade-low 7.1 per cent, Germany’s rose to 8 per cent and China’s held steady at 10.7 per cent, the data showed.
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Trump ambushes South Africa’s Ramaphosa with false ‘white genocide’ claims
