Southern African Customs Union (SACU)
Definition
An international union which allows tariff-free trade between member nations, established a common tariff for all imported goods to member nations from non-member nations, pools the tariffs into a revenue sharing pool and then distributes a proportional share of revenues to each entity. Established in 1910, this is the oldest such organization with a membership that includes Botswana, Lesotho, Namibia, South Africa and Swaziland.
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