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Publish Date : 23-Jul-2014

A new and improved economic partnership deal would be ratified by the Southern African Development Community (SADC) with the European Union (EU).

The deal covers that the SADC countries will be given greater access to the EU market on certain products, South African Trade and Industry Minister Rob Davies said in Cape Town , Xinhua reported.

The EU carry off export subsidies on agricultural goods destined for the region.

At the same time, the deal also imposes flexible export taxes on certain products. It also bans the labelling of EU products with the terms karoo lamb, rooibos and honeybush tea.

The agreement, hailed as an economic breakthrough, has taken a decade to negotiate. But there are still concerns over the trade balance between the EU and South Africa which is five billion rand (about 472 million $ dollars) in favour of the EU.

The deal will only come into effect once it has been signed by the cabinet and Parliament.

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