In 1999 the two sides signed a Trade, Development and Cooperation Agreement (TDCA) which entered into force in 2004, with some provisions being applied from 2000.

The TDCA covered a wide range of issues from political cooperation, development and the establishment of a free trade area (FTA).

[4] Since the signing of the Agreement, trade in goods between the two partners has increased by more than 120%, and foreign direct investment has grown five-fold.

South Africa's main exports to the EU are fuels and mining products (27%), machinery and transport equipment (18%) and other semi-manufactured goods (16%).

European exports to South Africa are primarily machinery & transport equipment (50%), chemicals (15%) and other semi-machinery (10%).