Southern African Customs Union


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Southern African Customs Union

An international organization that establishes the free movement of goods and services across member nations. It also maintains a common tariff policy with respect to countries that are members; that is, members negotiate as a bloc for trade agreements. Established in 1910, it is the oldest extant customs union in the world. Its members are Botswana, Lesotho, Namibia, South Africa and Swaziland.
References in periodicals archive ?
Lesotho is a member of the Southern African Customs Union (SACU) in which tariffs have been eliminated on the trade of goods with other member countries, which include Botswana, Namibia, South Africa, and Swaziland.
Analysts have called for the diversification of Namibia's revenue sources as the country could find itself in trouble should its share from the Southern African Customs Union revenue pool be cut once a revised policy is implemented.
Singh expressed confidence that the trilateral trade arrangement between India, Southern African Customs Union (SACU), and a trading bloc in Latin America consisting Brazil, Argentina, Uruguay and Paraguay (Mercosur) would bring strength to all signatories.
It mentions the high occurrences of HIV/AIDS and its affect on human development, as well as the sharp fall in revenues from the Southern African Customs Union
So far, even within the Southern African Customs Union (SACU), there is grappling on arriving at a revised and developmental income sharing formula.
According to Shantayanan Devarajan, the World Bank's chief economist for Africa, one of the biggest blows to South Africa's smaller neighbours will be felt from a downturn of revenues shared through the Southern African Customs Union (SACU): "In some cases, inflows from SACU make up half of the official revenue of its members -Botswana, South Africa, Swaziland, Lesotho and Namibia.
An agreement has been reached between Indian and Namibia to fast-track the completion of a preferential trade agreement (PTA) between New Delhi and Southern African Customs Union (SACU), designed to lower tariffs on certain items traded between the two countries.
He said the has realised that for as long as Namibia is part of the Southern African Customs Union (SACU) where only one member out of the five-member union has a developed industry and manufacturing capacity, it will be difficult for the other four member states to develop manufacturing industries because this member [South Africa] has a habit of dumping products therefore other member states are not able to develop their own industries.
It cites the high prevalence of HIV/AIDS and its impact on human development, as well as the sharp decline in revenues from the Southern African Customs Union (SACU) in 2011 as evidence of Swaziland s economic vulnerabilities.
But Namibian Customs and Excise argues that importers use Botswana only as a front to dodge the rules on the import of 2nd hand vehicles into the Southern African Customs Union.
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