Sacu Agreement 2002 Pdf

The Ministry of Trade and Industry (DTI) highlighted the context, the 2002 SACU agreement, the decisions of heads of state and government, the objectives of the annex, the role of the summit and the procedural and legal implications. South Africa has been a signatory to SACU, the world`s oldest customs union since its inception in 1910. It had produced the 1969 agreement following a revision. The SACU agreement was implemented on 15 July 2004, after being renegotiated and signed in 2002. A secretariat organized by Namibia was established in 2004. The first meeting of SACU Heads of State and Government took place on 22 April 2010 and at that meeting it was decided that SACU would hold a summit and that it would be the highest decision-making body that would provide political and strategic direction. The annex of the Summit on Institutionalization was developed and adopted by the Council in 2012 and signed by heads of state and government at a meeting in Botswana in 2013. On 5 November 2002, the United States and the countries of the South African Customs Union (SACU) – Botswana, Lesotho, Namibia, South Africa and Swaziland – announced that they would open negotiations for a free trade agreement. This agreement would build on the economic relations promoted under the 2000 U.S. African Growth and Opportunity Act (AGOA). The Chair has officially read the agreement reached by the Committee on the Annex on the Institutionalization of SACU.

The agreement was unanimously requested for adoption by the Committee. In addition to the institutionalisation of the South African Customs Union (SACU) summit, Ms Xolelwa Mlumbi-Peter, Deputy Director General of the Ministry of Trade and Industry (DTI), presented the Committee with the annex on the institutionalization of the SACU summit, highlighting the context, the 2002 SACU agreement, the decisions of heads of state and government, the objectives of the annex, the role of the summit and the legal and procedural implications. South Africa was a signatory to the Southern African Customs Union (SACU), which had been the oldest customs union in the world since 1910. As a result of its revision, the 1969 agreement was reached. The SACU agreement was then renegotiated and signed in 2002 and came into force on 15 July 2004. The highest decision-making institution of the 2002 agreement was the Council of Ministers. In 2004, it established a secretariat organized by Namibia. The first meeting of SACU heads of state and government was held on 22 April 2010 and, at that meeting, the Heads of State and Government decided that SACU would hold a summit that would be the highest decision-making body and provide political and strategic direction. The annex to the institutionalization of the summit was developed and adopted by the Council in 2012 and signed by the Heads of State and Government at a meeting in Botswana in 2013. The aim of the summit was to facilitate cross-border trade in goods between Member States` territories; establishing effective, transparent and democratic institutions that would guarantee Member States equitable trade benefits; Promote the conditions for fair competition in the common customs area; Significantly increase investment opportunities in the common customs area; improving the economic development, diversification, industrialisation and competitiveness of Member States; Promote member states` integration into the global economy by strengthening trade and investment; facilitate an equitable distribution of revenue from customs duties, excise duties and additional duties collected by Member States; Facilitate the development of common policies and strategies. The main objective of the annex was to provide for the creation of the summit as an additional SACU institution, in accordance with Article 8, paragraph 8, of the 2002 SACU agreement.

It would also provide heads of state and government with the opportunity to provide strategic and political direction to the Council of Ministers.

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