KING OFF TO BOTSWANA

MANZINI – His Majesty King Mswati III has left the country for Botswana to attend the Sixth SACU Summit with other heads of State.

The leaders will be hosted by His Excellency Mokgweetsi Eric Keabetswe Masisi, President of the Republic of Botswana and Chairperson of the SACU Heads of State and Government.  His Majesty was accompanied by Inkhosikati LaNtentesa.

The (SACU) Summit, that is billed  for Friday will be attended by other heads of State or Government and representatives of SACU member States, being the Kingdom of Lesotho, the Republic of Namibia and the Republic of South Africa.
The Sixth Summit will consider progress being made on the implementation of the Ministerial Work Programme, which was approved by the SACU Council of Ministers and endorsed by the summit in June 2017.

This Work Programme was developed following introspection of SACU’s relevance and as an organisation that supports the economies of its member States by the Council of Ministers at their Third Retreat held in June 2016.
The key activities and focus areas of the Work Programme included  review and development of a suitable architecture on tariff-setting and application of tariffs, rebates, refunds or duty drawbacks and trade remedies.

Further, the establishment of a Stabilisation Fund and a financing mechanism for regional industrialisation will also be on the agenda.
Work will be undertaken to explore the feasibility for financing options for the regional projects, and the development of public policy interventions to promote industrial development and value chains.
The programme is spearheaded by the two Ministerial Task Teams on Trade and Industry and on Finance within an agreed timeframe of 24 months.
The two task teams are supported by the task teams of Senior Trade and Industry and Finance Officials, respectively.
(Additional Info sourced from www.sacu.int/docspr2018)

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