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What are economic blocks impacting South African trade

User Panda
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Final answer:

Economic blocks impacting South African trade include SACU, SADC, and AfCFTA.


Step-by-step explanation:

Economic blocks refer to agreements between countries to reduce trade barriers and promote economic integration. The main economic bloc impacting South African trade is the Southern African Customs Union (SACU). SACU was established in 1910 and consists of South Africa, Botswana, Lesotho, Namibia, and Eswatini. It allows for the free movement of goods among member countries, removes tariffs on certain goods, and implements a common external tariff for non-member countries.

The Southern African Development Community (SADC) is another economic bloc impacting South African trade. SADC aims to promote regional integration and development through trade liberalization and cooperation. South Africa is a member of SADC, along with other countries in the Southern African region.

The African Continental Free Trade Area (AfCFTA) is also expected to have an impact on South African trade. AfCFTA aims to create a single market for goods and services in Africa, promoting intra-African trade. South Africa has signed the agreement and is working towards its implementation.


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