Trade between the European Union (EU) and the Southern African Development Community (SADC) increased by 26% over the last decade, according to data released this Wednesday (10) by the European Commission.
On the day marking ten years since the economic partnership agreement between the two regions, the EU executive stated in a press release that overall trade between the 27 EU member states and the six SADC partners (Botswana, Lesotho, Mozambique, Namibia, Eswatini, and South Africa) involved in the agreement “has increased steadily, growing by 26% over the past ten years.”
Over this period, EU imports from these six Southern African countries rose by 38%, while European investment in the region reached €50.4 billion in 2024, up 23% since 2016.
According to Brussels, the trade and development agreement “has been connecting people and businesses from Botswana, Lesotho, Mozambique, Namibia, Eswatini and South Africa to EU member states, generating clear benefits for all sides.”
“As a result of these success stories achieved through the agreement, the European Union is today the main economic partner of the six SADC states covered by the agreement,” Brussels noted. Referring to current global geo-economic instability, the European Commission described the partnership as “a clear example of how deep and diversified economic relations are the best protection against the unpredictability of global markets.”
Source: Lusa
