South African President His Excellency Jacob Zuma will host the third Southern African Customs Union (SACU) summit for Heads of State and Government which is scheduled to take place tomorrow, 25 March 2011, in Pretoria.
SACU is the oldest Customs Union in the world. It meets annually to discuss matters related to the Agreement. SACU's aim is to maintain the free interchange of goods between member countries and provides for a common external tariff and a common excise tariff to this common customs area. All customs and excise collected in the common customs area are paid into South Africa' national Revenue Fund. The Revenue is shared among members according to a revenue-sharing formula as described in the Agreement. South Africa is the custodian of this pool.
Only the Botswana, Lesotho, Namibia and Swaziland (BLNS) Member States' shares are calculated with South Africa receiving the residual. SACU revenue constitutes a substantial share of the state revenue of the BLNS countries.
The summit will be attended by the Heads of State and Government of Swaziland,His Majesty King Mswati III; the President of Botswana His Excellency Lieutenant General Seretse Khama Ian Khama; the President of Namibia His Excellency Hifikepunye Pohamba and the Prime Minister of Lesotho, His Excellency the Right Honourable Prime Minister Phakalitha Mosisili
The third SACU summit will receive a progress report from the Council of Ministers on the wide ranging work programme the Heads of State adopted at the second SACU summit on 16 July 2010. It is anticipated that the SACU Heads of State and Government will consider SACU's approach to the SADC-COMESA-EAC Tripartite Free Trade Area (FTA) negotiations to be launched at the occasion of the second Tripartite summit later this year.
This process is critical to the advancement of the regional economic integration agenda.
Members of the media are invited as follows:
Date: Friday, 25 March 2011
Venue: Presidential Guest House, Bryntirion Estate
Time: 09h00
NB: Media interested in covering the event are requested do a live accreditation at Sheraton Hotel, 1st floor in Arcadia.
No media will be allowed without accreditation
Media programme
08h00 to 08h30 Arrival of media at the Presidential Guest House
08h30 to 08h45 Departure of Heads of State/Government for the Presidential Guest
House
08h35 to 08h50 Arrival, received by President Zuma
Photo Opportunity
10h00 Opening Ceremony
Media in attendance
11h00 to 12h30 Third summit of the Heads of State/Government (closed session)
12h30 Media is conducted to the Plenary Hall
12h30 to 13h00 Reading of the Communiqué by Ms TC Moremi, Executive Director of SACU
