On 19 February 2020, the National Treasury released the Draft Public Procurement Bill (“Draft Bill”) for public comments. The overriding purpose of the Draft Bill is to introduce a single regulatory framework for local, provincial and national government and state-owned enterprises; and to create the necessary institutions to ensure the integrity of the procurement system and to address potential violations. The Bill also replaces critical provisions in the existing Preferential Procurement Policy Framework Act of 2017 relating to the scoring and award of government tenders.
In the lead up to and in support of South Africa’s Investment Conference, which is expected to take place on 18 November 2020, #TeamEurope will be hosting a number of events to highlight the main opportunities and impediments for increased trade, investment and cooperation between South Africa and the EU.
As a single market, the EU is South Africa’s largest trading partner, making up 30% of South Africa’s imports and 24% of South Africa’s exports in 2019. The EU is also the largest investor in South Africa.