New Delhi: India and the Southern African Customs Union (SACU) are likely to ink the terms of reference (ToRs) for a preferential trade pact on Wednesday, an official said. The ToRs set the framework and scope of the negotiations for the proposed trade pact. The five-member SACU includes South Africa, Namibia, Botswana, Eswatini, and Lesotho."The ToRs could be signed on August 12," said the official. Talks between India and SACU for a PTA began in 2008 but were stalled on issues related to sensitivities and market access.
India-SACU trade pact terms may be signed tomorrow
India and the Southern African Customs Union are on the verge of finalizing terms for a significant trade pact. This agreement aims to set the groundwork for future negotiations involving market access and other sensitive subjects. The SACU, comprising South Africa and four additional member countries, has been in discussions for this preferential trade agreement since 2008, though past talks faced hurdles.
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