Trade Policy Review - Southern African Customs Union (SACU) - Deeper integration is necessary for more balanced development
- Southern African Customs Union
- 2009/11/13
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PRESS RELEASE
EMBARGO NOT FOR PUBLICATION, or distribution by news agencies UNTIL 1400 Geneva time (1300 GMT) 4 NOVEMBER 2009
PRESS/TPRB/322
4 November 2009
(09-5459)
trade policy review: Southern african customs union (sacu)
Deeper integration is necessary for more balanced development
Since the previous review in 2003, SACU members (Botswana, Lesotho, Namibia, South Africa and Swaziland), have collectively expanded at an average annual rate of about 4% in real terms, although this GDP growth has been somewhat erratic mainly reflecting infrastructure and other constraints, according to a WTO Secretariat report on the trade policies and practices of SACU.
The five member states of this Customs Union continue to show substantial differences in levels of economic development and, so far, the only trade policy instruments harmonized are the applied customs tariff, excise duties, duty rebates, refunds and drawbacks, customs valuation, non-preferential rules of origin, and con