Southern African Customs Union (SACU)
The Southern African Customs Union (SACU) is the oldest Customs Union in the world and has existed in some form since 1910. SACU in its present form came into existence on 11 December 1969 with the signature of the Customs Union Agreement between South Africa, Botswana, Lesotho and Swaziland. It entered into force on the 1st of March 1970, thereby replacing the Customs Union Agreement of 1910. It was renegotiated in 1994 and 2002. Namibia was a part of the agreement as a colony of South Africa and rejoined it as a full fledged member upon its independence.
SACU revenue constitutes a substantial share of the state revenue of the BLNS (Botswana, Namibia, Lesotho and Swaziland) countries.
Continue reading “Southern African Customs Union”
The Common Market for East and Southern Africa
The Common Market for Eastern and Southern Africa, is a free trade area with twenty member states stretching from Libya to Zimbabwe. The Common Market for East and Southern Africa (COMESA) has been operating, in one form or another, since 1981. COMESA aims to promote economic integration via the removal of barriers to trade and investment among COMESA member states. Moreover, COMESA aims to advocate for infrastructure development, and development in science and technology. Economic integration is envisaged to progress from the Free Trade Area (FTA) to an economic monetary union. The FTA became operational on 1st November 2000 with nine participating countries initially.
COMESA formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Nine of the member states formed a free trade area in 2000 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), with Rwanda and Burundi joining the FTA in 2004 and the Comoros and Libya in 2006.
COMESA is one of the pillars of the African Economic Community.
Continue reading “Common Market for East and Southern Africa”
The Southern Africa Development Community. Thailand Australia Dubai UK top Car 4WD Exporter to SADC
The Southern Africa Development Community (SADC) aims to further socio-economic cooperation and integration as well as political and security cooperation among 15 southern African states. It complements the role of the African Union. It is headquatered in Gabarone, Botswana.
Members of the Southern African Development Community (SADC), comprising 14 countries, signed a Trade Protocol, which calls for the implementation of a Free Trade Area. Each country has negotiated two reduced tariff schedules. One schedule is applicable only for South Africa, and another schedule for all other SADC members. Zambia’s implementation of her offer, effective 30th April 2001, is provided to those countries that provide Zambia with the SADC reduced tariff schedule.
SADC has 15 member states, one of whose membership is currently suspended:
Angola, Botswana, Democratic Republic of the Congo – since 8 September 1997, Lesotho, Malawi
Mauritius – since 28 August 1995, Mozambique, Namibia – since 31 March 1990 (since independence), Swaziland, Tanzania, Zambia, Zimbabwe, South Africa – since 30 August 1994, Seychelles – also previously been a member of SADC from 8 September 1997 until 1 July 2004 then joined again in 2008 and Madagascar whose membership is currently suspended after the coup d’état led by the former mayor of Antananarivo Andry Rajoelina.
Continue reading “Southern Africa Development Community”