ABSTRACT
The political transition introduced by the election of 27 April 1994 launched the South African economy into a new situation of acceptance in world markets. In April 1994 South Africa also signed the Marrakech Agreement, thereby committing the country to the discipline of the World Trade Organisation (WTO) and a phased process of trade liberalisation. The change in the trade regime which this brought about represented a significant acceleration in the transition from an inward-looking economy to an outward-looking policy stance.
