India today said it will explore opportunities for a comprehensive market opening trade pact with South Africa as the two nations are likely to touch the $10 billion bilateral commerce this year.
The Ministry of Trade and Industry is in the process of establishing a national body under the 2002 Southern African Customs Union (SACU) Agreement.
The Southern African Customs Union (Sacu) is in the process of initiating a study of a possible free trade agreement (FTA) with the East African Community (EAC).
WINDHOEK – Southern African Customs Union (SACU) was this week transformed into a modern customs union, ready to shape regional integration for the entire southern Africa.
THE Southern African Customs Union (Sacu) will be transformed from a customs union into a body to deepen regional integration in southern Africa beyond the existing five member states and to “serve as building block of an ever closer community” among the peoples of Southern Africa.
Speaking at the 100th anniversary of the Southern African Customs Union (Sacu) celebration held in Namibia on Thursday, President Jacob Zuma said that the future of the customs union was "undoubtedly in question", if it could not "pursue the unfinished business of the Economic Partnership Agreement (EPA) negotiations as a united group".
Negotiations for a free trade deal between the Southern African Customs Union and the US are not "dead and buried", a US Embassy official said yesterday.
It is imperative for the Southern African Customs Union to move towards aligning its internal activities faster before conclusion of a final Economic Partnership Agreement with the European Union, says Minister of Commerce, Trade and Industry Jabulile Mashwama.
SA is likely to focus on stimulating targeted sectors of the economy and firming up trade relations with key partners in Africa, Europe and the east this year, as growing global trade flows are expected to reflect a world emerging from recession.
Members of the World Trade Organisation’s (WTO’s) trade policy review committee raised its concern last week over the relatively extensive use of antidumping and other tariff measures by SA on behalf of the Southern African Customs Union (Sacu).
The debate over the future trajectory of South Africa’s economic policy is about much more than the powers of Trevor Manuel and the planning ministry.
The European Union, through its Spanish chair, has made an impassionate plea for Namibia to sign the interim Economic Partnership Agreement saying this will accelerate the country’s economic growth.
The Southern African Customs Union (SACU) is having very painful discussions at the moment in Swaziland on its very future, said Minister in the Presidency for National Planning, Trevor Manuel.
SA is expected to reiterate its objections to the economic partnership agreements signed between the European Union (EU) and three members of the Southern African Customs Union (Sacu), which it believes will have disruptive effects, at a summit in Kleinmond on Friday.
One of the underlying principles of the Economic Partnership Agreement between the European Union and the Southern African Development Community is that it should complement and support regional integration initiatives. However, the signing of the Interim EPA by some member states, and not by others, has generated uncertainty within the region.
A number of Namibian civil society organisations, as well as the Namibia Chamber of Commerce and Industry, have supported the government’s decision not to sign the interim Economic Partnership Agreement with the European Union, amid concerns that it caused discord among Southern African Customs Union member States.
The European Union has not agreed to include trade concessions made at the Swakopmund negotiations in the interim economic partnership agreement, but intends to look at the rules of origin provisions to prevent the breakup of the Southern African Customs Unions
South Africa has no right to enforce ’punishment’ on the other Southern African Customs Union members for signing an interim economic partnership agreement with the European Union, an economist says.
There has long been talk that the US was preparing to walk away from talks on the proposed agreement, and the speculation finally ended last month when the US government announced that it would not revive negotiations.
The US government said yesterday it would not revive talks on a free trade agreement with southern African countries.