Cape Town, June 26 (LENA) – South Africa’s President, Cyril Ramaphosa has urged member states of the Southern African Customs Union (SACU) to strengthen regional integration and work together to overcome growing global economic challenges.
Speaking at the opening of the 9th SACU Summit of Heads of State and Government in Cape Town on Friday, President Ramaphosa said African countries cannot prosper on their own in an increasingly uncertain global economy.
He said the world is experiencing major changes in trade, technology and industrial development, making regional cooperation more important than ever.
President Ramaphosa reminded leaders that during the 2023 SACU Summit held in the Kingdom of Eswatini, member states adopted the Re-imagined SACU Agenda to address challenges brought by the COVID-19 pandemic, including supply chain disruptions, food insecurity and unstable energy markets.
He said the agenda remains relevant as global trade continues to face tariff disputes, economic fragmentation and slowing economic growth.
The President stressed that stronger regional cooperation through SACU and the African Continental Free Trade Area (AfCFTA) will help expand trade among African countries and build stronger regional value chains.
He noted that although the global economy is expected to slow, SACU economies have remained resilient through stronger regional integration, diversified export markets and improved risk management.
President Ramaphosa called on member states to place shared prosperity above national interests and continue working together to transform SACU into one of the world’s strongest regional economic blocs.
He said history would remember this generation of African leaders for building a stronger and more competitive Southern African economy.
Ends/LT
