The President of the Republic of Botswana and Chairperson of the Southern African Customs Union (Sacu) Heads of State and Government, Mokgweetsi Eric Keabetswe Masisi, will be hosting the 6th Sacu Summit on 29 June, in Gaborone, Botswana.
The summit will be attended by the heads of state or government and representatives of Sacu member states being the Kingdom of Eswatini, the Kingdom of Lesotho, the Republic of Namibia and the Republic of South Africa.
The 6th Summit will consider progress being made on the implementation of the ministerial work programme, which was approved by the Sacu Council of Ministers and endorsed by the summit in June 2017. This work programme was developed following introspection of Sacu’s relevance and as an organisation that supports the economies of its member states by the Council of Ministers at their 3rd retreat held in June 2016.
The key activities and focus areas of the work programme are as follows:
(a) review and development of a suitable architecture on tariff-setting and application of tariffs, rebates, refunds or duty drawbacks and trade remedies;
(b) strengthening existing cooperation and collaboration on trade facilitation to improve border efficiencies;
(c) review of the Revenue Sharing Formula, long-term management of the Common Revenue Pool;
(d) establishment of a stabilisation fund and a financing mechanism for regional industrialisation. Work will be undertaken to explore the feasibility for financing options for the regional projects; and
(e) development of public policy interventions to promote industrial development and value chains.
The programme is spearheaded by the two Ministerial Task Teams on Trade and Industry and on Finance within an agreed timeframe of 24 months. The two Task Teams are supported by the Task Teams of Senior Trade and Industry and Finance Officials, respectively.
The Summit will be preceded by the meetings of the Sacu institutions as follows:
a) Task Teams of Senior Officials on Trade and Industry and on Finance from 23 to 24 June 2018;
b) Finance and Audit Committee on 24 June 2018;
c) Sacu Commission from 25 to 26 June 2018;
d) Ministerial Task Teams on Trade and Industry and on Finance – 26 June 2018; and
e) 35th Meeting of the Sacu Council of Ministers from 27 to 28 June 2018.