Page 58 - 41st Summit Brochure

• Promotion of a conducive intra-SADC
DIRECTORATE OF FINANCE, and Foreign Direct Investment
INVESTMENT AND CUSTOMS environment covering tax
coordination and related matters.
Investment, both domestic and foreign,
is a critical factor in addressing the
The mandate of the Finance, Investment and supply-side constraints and enhancing
Customs (FIC) Directorate is to facilitate trade economic competitiveness in the
and financial liberalisation and the creation of SADC region. Under this KRA, the
an enabling environment for investment, Regional Action Programme on
contributing to deeper regional economic Investment will continue to be
integration, inclusive growth and poverty implemented. Effective
eradication. The activities of the Directorate are implementation of the programme will
guided by the three strategic objectives of Pillar 1: reduce barriers to doing business in the
Industrial Development and Market Integration region and lead to increased
of the RISDP 2020-2030, as follows: investment flows in SADC.
v Deepened regional market integration
which is connected into the continental
and global markets; ACTIVITIES AND ACHIEVEMENTS
v Deepened financial market integration,
monetary cooperation, and investment;
v Enhanced macroeconomic stability and
convergence. Trade Facilitation and Customs
FIC has four Key Result Areas (KRA): SADC Simplified Trade Regime Framework
• Enhancing intra and extra SADC SADC Regional Customs Transit Guarantee
trade through market integration, Regulations
trade facilitation and customs Aimed at facilitating intra and extra SADC Trade,
cooperation, and conclusion of these were finalised and considered by the Joint
international trade agreements. This Meeting of the SADC Sub Committee on Customs
56 KRA is shared with the Directorate of Cooperation (SCCC) and the Sub-Committee on
Industrial Development and Trade as Trade Facilitation held in September 2020, which
it focuses on Customs and Trade recommended them for adoption by the
Facilitation. The main objective is to Committee of Ministers on Trade (CMT) in
enhance internal and external SADC June/July 2021.
trade through consolidation of the
SADC Free Trade Area. Border Posts Assessment Study
This was conducted for the Nakonde/Tunduma
• Enhancement of regional financial border posts between Zambia and Tanzania and
and monetary cooperation and Songwe/Kasumulu border posts between Malawi
mobilisation of regional development and Tanzania. The study, conducted from
finance. The aim of this KRA is to December 2020 to March 2021, aimed at
develop and strengthen financial and improving the efficiency and effectiveness in
capital markets through improvement clearing passengers, goods and means of transport
and harmonisation of banking and at border posts. The report of the assessment will
financial systems, laws and procedures. be submitted to CMT in June/July 2021.
This will ensure the operational
efficiency of Central Banks as well as E-Certificate of Origin Framework
their independence in the This was developed and approved. The E-
implementation of monetary policy. certificate will facilitate application of the
Certificate of Origin electronically, thus easing
• Achievement and sustenance of cross-border trade. The Framework will be piloted
macroeconomic stability and in six Member States that submitted progress
convergence. The objective of this reports on their readness for piloting the
KRA is to facilitate the Electronic Certificate of Origin (e-CoO) --
implementation of the SADC Botswana, Eswatini, Malawi, Namibia, Tanzania
Macroeconomic Convergence and Zambia. The Implementation Manual of the
Programme in order to ensure e-CoO was developed and training on
conditions for sustainable growth implementation of the eCoO Framework was
while advancing the regional conducted in March 2021. The launch of eCoO
economic integration process. transmission is scheduled for September 2021.