They stem mainly from possible fiscal slippages that could undermine policy credibility, lower demand for key exports, further declines in SACU
revenue, and slower recovery in mining and construction activities.
Before joining SACU
, Ruth and Vincent used traditional farming methods on their three acres of land.
plans to charge a nominal interest rate and one-time application fee for this service, which together would fall under the 28% APR cap required by its federal charter for short-term loans.
Under the new SACU
Agreement, South Africa and its Botswana, Lesotho, Nambia and Swaziland (BLNS) partners have collectively embarked on three tariff liberalisation negotiations with Brazil and India, and the Tripartite FTA between the SADC, the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA) countries, which is discussed in the next section.
Examples of such cooperation are the MOUs signed between TISA and individual revenue authorities in the SACU
region to, within a legal framework, combat illicit trade in tobacco products.
Formed in 1910, SACU
was composed of the Union of South Africa and three British High Commission territories, located within or bordering the Union.
Swaziland's cash-flow problems came to a head last year with a paltry SACU
payout, its main income source, a knock-on from the 2008-09 global recession that put the squeeze on developing economy exports.
According to McCain, at the time South Africa became a member, the SACU
market for frozen fries was still in its infancy.
drop-off, caused by a 2009 South African recession, is equivalent to 11 percent of Swazi output although the IMF says profligate state spending is just as much to blame.
We also see progress in SACU
(the southern African customs union of Lesotho, Botswana, Namibia, Swaziland and South Africa) and in countries like Ethiopia and Zambia," Mr Karlsson said.
Keywords Foreign direct investment (FDI) * Aid * SACU
SADC * South Africa * Growth * Human capital development * Regional integration
The important and successful regional blocs are COMESA, ECCAS, ECOWAS, CEPGL, SADC, UEMOA, SACU