Revenue Services Lesotho (RSL) has reaffirmed its commitment to enhancing trade relations and empowering local businesses.
The organisation said this at the third symposium of its ongoing Mphahlolle Awareness Campaign this week.
The event aimed to equip the business community with the insights needed to thrive in today’s evolving global market.
The symposium provided a key platform to discuss the country’s evolving tax systems, international trade agreements, and the newly introduced Lesotho Authorised Economic Operator (AEO) programme – a globally recognised initiative designed to enhance the security of international trade and streamline cross-border transactions.
RSL Deputy Commissioner for Advisory Services, Thapelo ‘Moleli, highlighted that the agency has finalised several trade agreements, including those under the African Continental Free Trade Area (AfCFTA) and the EU-SADC Economic Partnership Agreement (EPA).
“These agreements are strategically designed to boost Lesotho’s trade opportunities,” Moleli said. He also noted that the agency is actively working to educate the public about the AfCFTA, a new and promising agreement for Lesotho.
He added that the AEO programme is part of a broader Southern African Customs Union (SACU) initiative, not limited solely to Lesotho.
“Through the AEO, we are striving to facilitate trade and improve the functioning of the SACU framework by encouraging better compliance and reducing the duration of customs checks on the South African side,” ‘Moleli explained.
The programme is expected to decrease processing times for Lesotho’s exports at South African ports by fostering closer cooperation with customs authorities and engaging customs brokers and agents to address non-tariff barriers.
Speaking at the same occasion, Assistant Finance Manager at local car dealership, Maseru Toyota, Tŝolo Leseo, underscored the significant benefits of the AEO programme, particularly for businesses involved in cross-border transactions.
“International trade is crucial to our success. By joining the programme, we have experienced notable improvements in compliance. An extensive audit upon entry helped us identify and resolve key issues. For a company like Maseru Toyota, which depends on having stock readily available, avoiding delays is vital. The delays we once faced are now a thing of the past,” Leseo said.
In addition to these discussions, the symposium featured in-depth sessions on navigating tax treaties, managing tariffs, and understanding international trade agreements to drive business growth.
RSL Commissioner for Operations Support, ‘Matlhohonolofatso Mosaase, explained that the Mphahlolle Awareness Campaign seeks to explore critical elements of the global trade and taxation landscape that impact business operations worldwide.
“We aim to empower the business community with the knowledge and tools necessary to thrive in a dynamic global market. “By fostering dialogue between RSL, the Ministry of Trade, Indus
