WeeklySA_AdminKey: The summit deliberated on key issues affecting industrial development and trade cooperation
By Lehlohonolo Lehana
President Cyril Ramaphosa has highlighted the need to move beyond traditional customs arrangements and build Southern Africa into one of the world’s most competitive regional production hubs.
Ramaphosa officially opened the 9th Summit of the Southern Africa Customs Union Heads of State and Government.
South Africa is hosting the 9th SACU Summit of Heads of State and Government at the Cape Town International Convention Centre 2 (CTICC 2) in Cape Town which started this week.
The Summit brings together the Heads of State and Government and representatives of the five SACU Member States, namely Botswana, Kingdom of Eswatini, Kingdom of Lesotho, Namibia and the South Africa, to deliberate on key issues affecting regional economic integration, industrial development and trade cooperation.
Facing a global economy reshaped by shifting trade patterns and reconfigured supply chains, Ramaphosa stated that no African country could prosper alone.
To counter global uncertainties, tariff disputes and economic fragmentation, the “Re-Imagined Sacu” framework aimed to reduce dependencies and enhance intra-African trade.
The President said work had begun on regional value chains in fertilisers, agrochemicals and seed production, while initiatives in the automotive and battery manufacturing sectors were also progressing.
A regional investment roundtable was expected later this year to mobilise funding for these industries.
The summit also welcomed the results of joint regional enforcement operations targeting illicit tobacco and tobacco products. According to Ramaphosa, the operations had led to the seizure of illicit goods, arrests, financial penalties and the recovery of excise duties and value-added tax.
He said work was also under way to develop strategies for the automotive and minerals beneficiation sectors, alongside a long-term industrialisation strategy for the customs union.
All SACU member states were now implementing tariff concessions under the AfCFTA, the President said, adding that leaders agreed on the need for an export strategy to boost intra-African trade and maximise the benefits of existing trade agreements.
He said the summit had also emphasised the importance of concluding trade negotiations more quickly to diversify export markets and improve the region’s resilience amid geopolitical tensions and changes in global trade patterns.
Ramaphosa’s term as chair of the SACU Summit ends on July 14 this year.
