July 18, 2008

The U.S. has signed an interim agreement with the Southern African Customs Union (SACU) that could eventually revive long-suspended free trade negotiations.

The new agreement, known as a Trade, Investment and Development Cooperation Agreement, is the first such accord between Washington and SACU countries.

"This important agreement will provide a framework for the United States and SACU to work together to create the building blocks that strengthen and deepen our trade ties and that could lead to a free trade agreement in the long term," said U.S. Trade Representative Susan C. Schwab.

The SACU trade bloc comprises Botswana, Lesotho, Namibia, Swaziland, and South Africa. Bilateral trade between the U.S. and SACU member-states totaled $15.8 billion in 2007, making the group the largest non-oil trading partner in Sub-Saharan Africa.