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 ?
The United States has reached such agreements with Jordan, Vietnam, Chile and Singapore, and has commenced negotiations over such agreements with the Southern African Customs Union (SACU), which consists of South Africa, Namibia, Botswana, Lesotho and Swaziland, the countries of Central America, and Morocco.
In five out of the 14 sectors covered by the Trade Performance Index, the Southern African Customs Union (SACU) figures among the world's top 15 exporters.
In SADC countries which are not members of the Southern African Customs Union (SACU), the names would be phased out over eight years.
But, while we have had over a century of economic cooperation in the form of the Southern African Customs Union (SACU), generally African economic still lack synergy within their regions, and have little access to other regions,' Mr Magang said.
"Through its membership in the Southern African Customs Union, its ratification of the African Continental Free Trade Agreement and its participation in the work of the WTO, Eswatini has underlined the importance of trade to development.
Swaziland's reliance on volatile revenues related to the Southern African Customs Union (SACU), which have accounted for up to 60 per cent of government revenues in the past, have created risk for the government finances and the balance of payments.
Downside risks to this outlook include volatile Southern African Customs Union (SACU) revenue, subdued commodity prices, and fiscal slippages that could undermine policy credibility.
Southern African Customs Union (SACU), Economic Community of West African States (ECOWAS) and East African Community (EAC).
In southern Africa, you have the Southern African Customs Union and the Development Community -- they are mostly regional efforts, they are moving at different paces and they are focusing on different priorities.
The country belongs to the Southern African Customs Union, which has signed a Trade, Investment, and Development Cooperative Agreement (TIDCA) with the United States.
An interest rate increase coupled with tax payments in June, and a Southern African Customs Union receipt should bolster reserve levels which are likely to have rebounded significantly from the May level the report said.
He, also said that, "despite a series of adverse shocks, including the fall in Southern African Customs Union (SACU) revenues in 2010aACAo11 and weather-related shocks in 2011 and 2012, fiscal and external sustainability have been maintained".
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