EXISTING TRADE BLOCS

1. The country is one of the founding members of the African union (AU) 2. Beijing agreement,

3. Africa formally joined the brazil-Russia-India-china (brics) grouping of countries

4. IBSA alliance(India-brazil-south Africa)

MAJOR EXPOERT AND IMPORT COMMODITIES

South Africas primary EXPORT commodities include 1. Gold 2. diamonds, 3. platinum, 4. other metals and minerals, 5. machinery and equipment.

South Africas primary IMPORT commodities include 1. machinery and equipment, 2. Chemicals 3. petroleum products 4. scientific instruments, 5. and food materials.

CONCLUSIONS ON SOUTH AFRICA

1. Furthermore, whilst South African exports have grown since 1992, it is apparent that growth in South African exports is still not rapid enough.

2. If one compares growth in more recent years to that of some key developing countries such as India, China and Brazil, unfortunately it apparent that our export growth performance is still not as robust as these countries. 3. This said, South Africas growth in exports has been at least 11% slower than these countries,

SOUTH KOREA

TRADE BLOCS WITH OTHER COUNTRIES

1. member of ASEAN Plus three, a body of observers, 2. the East Asia Summit (EAS) 3. Korea-US FTA 4. Korea-EU FTA

5. Korea-Peru FTA
6. Korea-Chile FTA 7. Korea-Singapore FTA 8. Korea-India CEPA FTA 9. Korea-ASEAN FTA 10. Korea-EFTA (European Free Trade Area)

The economy is EXPORT-driven, with production focusing on 1. electronics 2. Automobiles 3. ships 4. machinery 5. petrochemicals 6. robotics.

With a lack in natural resources, South Korea has a high dependence on IMPORT of : 1. capital goods, 2. raw materials and 3. industrial supplies. The country is also the 5th largest importer of oil in the world, with 3.074 million barrels imported per day.

1. Worlds 8th largest exporter: Ahead of the UK, Russia and Canada. 2. Worlds largest shipbuilder: including worlds largest shipyard run by Hyundai Heavy Industries. 3. Worlds 5th largest automobile manufacturer: including worlds largest automobile assembly

plant (Hyundai Motors).

4. Asias largest oil exporter. 5. Worlds largest manufacturer of screen displays (LCD, CRT, Plasma, etc). 6. Worlds fastest increase in patents registered. 7. World's largest electronics manufacturing firm: Samsung Electronics. 8. Worlds second largest steel maker: POSCO 9. Worlds largest producer of computer memory chips.

CONCLUSION ON SOUTH KOREA:

Keeping in mind these domestic and global realities, Korea is striving to build an advanced, free and open economy. This is the primary objective of the nations international economic and trade policy. One of the most significant consequences of this transformation has been the rise of international standards and the need for global harmonization.

1. Exports of south Africa are very low and south Korea being in a free trade with various countries have a more advantage in the world trade.

2. South Africa is known for natural elements and south Korea is lacking in natural resources.

3. South Korea is known for its electronics and machinery, south Africa would benefit from

this trade as it is already is producing machinery , so it will get an advantage.