India, SACU sign terms for Preferential Trade Pact

India and the Southern African Customs Union (SACU) on Wednesday signed the Terms of Reference in New Delhi to formally launch negotiations for a Preferential Trade Agreement. The SACU is the world's oldest functioning customs union, comprising Botswana, Eswatini, Lesotho, Namibia, and South Africa.

This revives stalled trade discussions from 2010 and aims to secure lower tariffs and boost bilateral economic cooperation. The framework will cover eight primary areas, including trade in goods, market access, rules of origin, customs procedures, sanitary and phytosanitary measures, technical barriers to trade.