Business
SACU Summit Urges Economic Integration
Heads of State and Governments of the Southern Africa Customs Union (SACU) on Friday, in Pretoria, restated the need to transform the union into a vehicle for regional economic integration.
Rising from a two-day summit, the leaders said the union must be capable of promoting equitable development.
In a communiqué at the end of the summit, the leaders also said the transformation was necessary to ensure that the union achieved its new vision.
The union had in April at a gathering in Windhoek, Namibia, agreed on a new vision to be ‘an economic community with equitable and sustainable development, dedicated to the welfare of its people and a common future’.
The Heads of State and Governments observed that over the past 100 years, SACU had been confronted with several challenges, which necessitated its continuous adaptation.
“Current challenges and strategic opportunities require that we do things in a different way to the benefit of all members of SACU,” the leaders stated.
They, however, recognised that in spite of the challenges, SACU had played and continues to play an important role in the economies of its member-states.
The leaders stated that SACU could play an enviable role in Southern Africa as a building block for deeper regional integration, given its level of integration.
They directed that strategies to promote win-win solutions to address challenges in several areas be developed.
Among the areas listed are strengthening the capacity in the secretariat and developing the necessary policies and procedures to conclude the establishment of institutions.
Others are ensuring that work on industrial policy, agricultural policy, competition policy, unfair trade practices and other priority commitments in the SACU agreement are implemented.
They are also to develop a SACU trade and tariff policy and trade strategy that support industrialisation.
The leaders also called for strategies to position SACU at the centre of the regional economic integration agenda and consideration of sharing of SACU revenue, among others.
The meeting, held in Pretoria, reflected on the achievements and challenges of the body, as well as deliberated on the future strategic direction of SACU in view of recent regional and global developments.
The summit, chaired by President Jacob Zuma of South Africa, was attended by King Mswati III of the Kingdom of Swaziland, President Hifikepunye Pohamba of the Republic of Namibia, President Seretse Khama of the Republic of Botswana, and Prime Minister Pakalitha Bethuel Mosisili of the Kingdom of Lesotho
The Heads of State and Governments have agreed to meet again by the end of October 2010.
SACU countries have a combined population of more than 55 million people and a combined GDP of 2,200 billion rands.
Business
Entrepreneur Fetes Indigenous Patronage …Tasks Govt, NDDC, Others On Procurement
Business
Jonathan Applauds NCDMB, China’s Model for Shaping Nigeria’s Local Content Policy
Business
Vet Doctors Vow Support To Check Rabies Spread In Rivers
-
News10 hours agoSoldier, Police Officer Killed As Army Rescues Nine Abductees In Zamfara
-
News10 hours agoPH NBA Election: Committee Uncovers Over 500 Padded Names On Voters’ Register
-
News10 hours agoFubara Reaffirms Commitment To Creating Conducive Environment For Business Growth …Commissions Paint Manufacturing Plant
-
Oil & Energy9 hours agoNEDC Plans N100b Power Grid For 102 Council Areas
-
Business9 hours agoAsaba Private Jet Incident Was A Security Violation—Keyamo
-
Rivers10 hours agoWomen Renew Call For Unity, Back Fubara’s Political Direction
-
Sports10 hours ago
INEC Seeks Media Partnership, Declares Readiness For Osun Guber Poll
-
Oil & Energy9 hours agoNMDPRA Seeks Investment To Bridge Infrastructure Gaps, Develop African Oil Price Benchmark
