In the same week that President Cyril Ramaphosa held his second SA Investment Conference in a continued drive to attract $100bn in investment, it appears that his own actions and inaction could immediately erase $1bn worth of trade with the US.
On 25 October 2019, the Office of the United States Trade Representative put South Africa on notice that our eligibility for the Generalised System of Preferences (GSP) would come under review due to the unwillingness of President Cyril Ramaphosa to send back to Parliament the fatally flawed Copyright Amendment Bill.
On 12 June 2019, I wrote to the president requesting that he send the bill back to the Portfolio Committee on Trade and Industry for amendments and further consideration because the bottom line is, it is a bad bill and has no place on our statute books.
We warned then, should the president sign the bill in its current form, it will lead to a jobs bloodbath and will cost the economy approximately R12-billion in exports to the US following threats to institute a review on our GSP accessibility.
To date, he has ignored our letter and failed to respond. Hardly the actions of someone who keeps exploring MP's...