Guest Contributor | Aug 30, 2019 | 0
SACU concludes bilateral tariff liberalisation with East-African Community
The Southern African Customs Union (SACU) last week concluded bilateral tariff negotiations with the East African Community (EAC) which will enhance intra-regional trade between the respective countries.
According to SACU Secretariat the successful conclusion of these talks means that the SACU-EAC private sector will have access to new and dynamic markets for exports as well as new sources of inputs for domestic production processes.
This negotiations are part of the Tripartite Free Trade Area, which was launched in June 2015 with the aim to establish a single market for 27 African countries with a combined population of about 700 million people (57% of Africa’s population), and Gross Domestic Product above US$1.4 trillion.
“The conclusion of the SACU-EAC negotiations marks a significant step towards realising the benefits of the TFTA. The main aim of the SACU-EAC market access negotiations has always been to provide commercially meaningful market access for the private sector in the two regions,” the SACU Secretariat added.