Is Agoa compromise a mixed blessing for SA?
The local poultry industry stood to lose about R900m in annual turnover and potentially shed about 6,500 jobs as a result of a deal clinched in Paris last week with its US counterpart, South African Poultry Association CEO Kevin Lovell said on Monday.
The deal will allow the import of 65,000 tonnes of bone-in chicken portions from the US free of anti-dumping duty.
However, because the agreement is conditional on SA remaining a beneficiary of the African Growth and Opportunity Act (Agoa), the threat of SA losing its status under the act has diminished. This will give a measure of security for the next 10 years to the automotive, chemical, wine and citrus industries which derive significant benefit from their US exports. Read more