The Free Trade Agreement (FTA) between the European Free Trade Association (EFTA) and the Southern African Customs Union (SACU), which came into force in May 2008, provides the legal basis for trade and development arrangements between the signatories. The agreement covers trade in goods and lays the foundation for a further engagement of the parties with regard to intellectual property, investment, trade in services, and public procurement. It is designed to facilitate the SACU’s integration into the world economy through gradual trade liberalisation and improved trade-related cooperation. The SACU-EFTA FTA opens up large opportunities for promoting bilateral trade between Botswana, as well as other SACU States, to a market of 14 million consumers with a combined Gross Domestic Product (GDP) of more than USD 1 trillion, compared to USD 16 billion for SACU. Together with the SADC-EU EPA, the SACU-EFTA FTA provides Botswana preferential access to the whole European Union (EU) Single Market - one of the largest and most dynamic trading regions in the world. (Simplification of Trade agreements)