Which is the Oldest Custom Union in the World?
The Southern African Customs Union (SACU) which is in place since 1910 is the oldest customs union in the world. It was established as Customs Union Agreement between the then Union of South Africa and the High Commission Territories of Bechuanaland, Basutoland, and Swaziland.
These territories got independence subsequently and the agreement was updated on December 11, 1969. This agreement replaced the 1910 Customs Union Arrangement. The updated union officially entered into force on March 1, 1970. After Namibia’s independence from South Africa in 1990, it joined SACU as its fifth member. The agreement was concluded in 2002, but to be ratified by all the countries.
Last Trade Policy Review (TPR) of the 5 members was in 1998 and since then the five member states of SACU (Botswana, Lesotho, Namibia, South Africa, and Swaziland), have continued their economic reform programmes. Further liberalization of trade and investment, driven both by their commitments in the WTO, and by their participation in bilateral and regional trade agreements, have been major features in this process.
Source (WTO)
These territories got independence subsequently and the agreement was updated on December 11, 1969. This agreement replaced the 1910 Customs Union Arrangement. The updated union officially entered into force on March 1, 1970. After Namibia’s independence from South Africa in 1990, it joined SACU as its fifth member. The agreement was concluded in 2002, but to be ratified by all the countries.
Last Trade Policy Review (TPR) of the 5 members was in 1998 and since then the five member states of SACU (Botswana, Lesotho, Namibia, South Africa, and Swaziland), have continued their economic reform programmes. Further liberalization of trade and investment, driven both by their commitments in the WTO, and by their participation in bilateral and regional trade agreements, have been major features in this process.
Source (WTO)
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