{"id":12515,"date":"2023-06-26T03:11:41","date_gmt":"2023-06-25T21:41:41","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=12515"},"modified":"2025-04-01T19:43:05","modified_gmt":"2025-04-01T14:13:05","slug":"south-african-customs-union-sacu","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/south-african-customs-union-sacu\/","title":{"rendered":"South African Customs Union (SACU)"},"content":{"rendered":"<h2><strong>About the South African Customs Union (SACU)<\/strong><\/h2>\n<ul>\n<li>It is the world\u2019s <strong>oldest customs union<\/strong> which was established in 1910.<\/li>\n<li><strong>Member countries:<\/strong> South Africa, Namibia, Botswana, Lesotho, and Eswatini (formerly Swaziland).<\/li>\n<li><strong>Headquarter: Windhoek (Namibia)<\/strong><\/li>\n<li>It was administered by South Africa, through the 1910 and 1969 Agreements.<\/li>\n<li>The customs union collected duties on local production and customs duties on members\u2019 imports from outside SACU, and the resulting revenue was allocated to member countries in quarterly instalments utilizing a revenue-sharing formula.<\/li>\n<li>Negotiations to reform the 1969 Agreement started in 1994, and a new agreement was signed in 2002. The new arrangement was ratified by SACU Heads of State.<\/li>\n<li>The <strong>Economic structure<\/strong> of the Union links the Member states by <strong>a single tariff and no customs duties between them.<\/strong><\/li>\n<li>The Member States form a single customs territory in which tariffs and other barriers are eliminated on substantially all the trade between the Member States for products originating in these countries; and there is a common external tariff that applies to nonmembers of SACU.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3><strong>Q) What is Customs duty?<\/strong><\/h3>\n<p>Customs duty, also known as import duty or tariff, is a tax imposed by a government on goods imported into or exported out of a country. It is a form of indirect tax that is levied at the border when goods cross international boundaries.<\/p>\n<p><strong>Source:<\/strong>\u00a0<a href=\"https:\/\/www.livemint.com\/economy\/india-plans-to-revive-trade-deal-with-sacu-11687714447661.html\" target=\"_blank\" rel=\"nofollow noopener\"><u>India plans to revive trade deal with SACU<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>South African Customs Union (SACU) is the world\u2019s oldest customs union which was established in 1910.<\/p>\n","protected":false},"author":5,"featured_media":12516,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-12515","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/12515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=12515"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/12515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/12516"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=12515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=12515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=12515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}