SACU Chief calls for harmonisation of regulations
SACU member states have been urged to consider seamless cross-border trade through harmonising regulations to ease trade. The call was made following the recent SACU Investment Roundtable forum held in Gaborone under the theme: ‘Positioning SACU as an industrial, investment, and manufacturing and innovation hub for the African Continent and beyond’.
Executive Secretary of SACU, Pauline Elago, giving a report on the Investment Routable said some of the key challenges identified are high transport cost and delays in cargo clearance.
She said transport corridors should be used to enhance competitiveness of the trading environment in SACU through collaborations and partnership. In addition, Elago highlighted that the Investment Roundtable identified the need to consider technology, digitalization and intellectual property rights through developments of appropriate brands.
Elago said the forum also emphasized that the success of SACU is a collective responsibility of all stakeholders and not the sole responsibility of governments.
“Therefore, SACU should strategically position itself to harness opportunities to boost its own productive capacity and exploit the AfCFTA market through industrialization,” said Elago.
Meanwhile, the Roudtable Investment forum identified 36 bankable projects or investment and export opportunities showcased by the investment promotion agencies in the SACU bloc.
The prospects are in agro-processing, leather and leather products, fruits and vegetables and meat and meat products, textiles and clothing, cosmetics and essential oils and pharmaceuticals.