By Virusha Subban, Partner and Head of Indirect Tax, Baker McKenzie Johannesburg The World Trade Organisation (WTO) announced in June an agreement to waive the intellectual property rights that usually apply in the manufacturing of vaccines, to assist the production of COVID-19 vaccines in developing countries. The measures were proposed to the WTO by the South African and […]
Author Archives: Virusha Subban
By Virusha Subban, Partner specialising in Customs and Trade, Head of Tax, Baker McKenzie Johannesburg The United States-Kenya Strategic Trade and Investment Partnership (STIP) was signed on 14 July 2022. The agreement outlines the enhanced engagement and high standard of commitment between the two countries, and focuses on increased investment and sustainable and inclusive growth that will […]
While challenges remain, continental free trade will further boost Africa’s trade partners By Virusha Subban, Partner specialising in Customs and Trade, and Head of the Tax Practice, Baker McKenzie in Johannesburg Trade between China and Africa is growing. The General Administration of Customs of China recently noted that bilateral trade between China and Africa amounted […]
By Virusha Subban, Partner and Head of Indirect Tax, Baker McKenzie Johannesburg On 2 November 2021, US President Joe Biden announced that three African countries would be terminated from the African Growth and Opportunity Act (AGOA) trade preference program, unless they took urgent action to meet statutory eligibility criteria by 1 January 2022. The three […]
By Virusha Subban, Partner and Head of Indirect Tax at Baker McKenzie in Johannesburg According to China’s Ministry of Commerce, trade between China and Africa increased by 40.5 percent year-on-year in the first seven months of 2021, and was valued at a record high of USD 139.1 billion. The Ministry noted that African products were […]
By Virusha Subban, Partner specialising in Customs and Trade at Baker McKenzie in Johannesburg The United States (US) President Elect Joe Biden and his new administration are expected to take a multilateral approach to foreign policy, easing tensions and increasing engagement with allies. Trade issues are also expected to be a top priority for the Biden administration and under […]
South Africa News
South Africa on a clear path to benefit from trade in manufactured goods with other African countries
By Virusha Subban, Partner Specialising in Customs and Trade, Baker McKenzie Johannesburg President Cyril Ramaphosa outlined the country’s Economic Recovery Plan on Thursday 15 October 202o, during which he explained that South Africa imported goods (excluding oil) are worth around ZAR1.1 trillion annually, and that if just 10% of these were manufactured locally, the country would add 2% to its Gross Domestic […]
By Virusha Subban, Partner specialising in Customs and Excise at Baker McKenzie in Johannesburg The African Union (AU) announced in August that negotiations around the first commercial trade deal under the African Continental Free Trade Area Agreement (AfCFTA) would be finalised by January 2021. The trade agreement was due to launch on 1 July 2020 […]