MoU between India, Southern African Customs Union

New Delhi, Jan 17 (UNI) The Union Cabinet today gave approval for signing of an MoU between India and Southern African Customs Union (SACU) for exchange of tariff concessions on a select list of products.

The MoU will facilitate the expansion of trade between the parties by providing the mechanisms to negotiate a prefential trade agreement in conformity with the rules of World Trade Organisation, Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters after the Cabinet meeting.

SACU, the oldest customs union of the world, consists of South Africa, Namibia, Bostwana, Swaziland and Lesotho.

UNI YJ YA SSC1400