The global trading system is characterized by a growing and competing network of bilateral and regional trade agreements. In South Africa, while trade policy has been determined in a multilateral setting, bilateral and regional trade agreements have also been pursued as evidenced by the Southern African Development Community Free Trade Agreement (SADC FTA), the European Union-South Africa Trade, Development and Co-operation Agreement (EU-SA TDCA) and as a member of the Southern African Customs Union (SACU), a party to the SACU European Free Trade Association-Free Trade Agreement (SACU-EFTA FTA) and the SACU Common Market of the South-Preferential Trade Agreement (SACUMERCOSUR PTA).