info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
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South Africa's import market has shown tremendous growth potential over the past three years. From the perspective of the volume of import and export trade between China and African countries, the top five African countries in terms of import and export volume are South Africa ($435.50 billion), Angola ($280.53), Nigeria ($15.271 billion), and Egypt ($138.26 billion), Algeria ($9.105 billion).
Import business has become the latest and most lucrative business in South Africa. South Africa has industries that directly depend on these goods; hence, this venture is a profitable investment opportunity. Some of these products include; crude oil, processed petroleum products, phone system devises, computers, pharmaceuticals, automobile parts, heavy machinery, and trucks. According to the 2018 import report, crude oil topped the list. That, therefore, makes crude oil one of the most profitable import opportunities in South Africa.
In as much as this business is thriving, there are regulations in the industry. This makes it wise for one familiarize themselves with the import control before getting into this business. The main reason why there is this control in the country is to ensure that there is safety in the kind of goods that are brought into the state. This control is also done to ensure that the quality of the imported products meets the stipulated standards. It is also done to ensure that a line is drawn between second-hand goods, new goods, used goods, and waste and scrap.
It is the role of the Import and Export Control Unit, a body working under the International Trade Administration Commission of South Africa to enforce this law. All the inspections that the import control unit conducts are as per the conditions contained in the compliance permits. These permits are necessary, especially for those individuals who wish to import second-hand personal goods into the country. The International Trade Administration Commission of South Africa, (ITAC) is responsible for issuing these permits.
There are specific goods that are subject to the import control unit. These goods include Radioactive chemical elements, Chemicals listed in the 1998 convention, New pneumatic tyres, Arms and ammunition, Fossil fuels, Gambling devices ,Used goods.
Used goods area another area of concern. The critical interest in used products is their quality. For electronic goods, the unit works with the Department of Environmental Affairs to ensure that there is a minimization in the issue of dumping of electronic product waste. For used medical equipment, the critical concern is their quality. For used aircraft, quality is also crucial. For waste and scrap, the import control unit works with the Department of Environmental Affairs to minimize dumping of wastes into the country.
