TRADE AND ECONOMIC LIBERALIZATION AND DEVELOPMENT continued Amended laws and regulations to facilitate SMEs development; Increase in number of trained new entrepreneurs Reports on harmonization of policies and measures; 2004 – 2008 2004 – 2005 2004 – 2004 2008 Identify and amend the laws and regulations as appropriate to facilitate participation of SMEs in industrial production; develop a regional strategy on entrepreneurship promotion; Train potential entrepreneurs in business management skills. Implement MOU on macroeconomic convergence, MOU on taxation and related matters; and other related policies. Put in place the peer review mechanism to monitor macroeconomic convergence. Convertibility of the regional currencies; Development of small and medium enterprises (SMEs); regularize the operations of the informal sector and promote entrepreneurship and self-employment; Harmonise and monitor the implementation of country specific macroeconomic convergence programmes in line with agreed targets; Liberalize the current and capital account transactions among Member States and adopt a harmonized exchange rate mechanism Prepare for the establishment of a SADC Monetary Union Enhance employment creation capacity of industry and the rest of the regional economies Achieve macroeconomic convergence and deep monetary cooperation; Convertible regional currencies; Exchange controls eliminated and a single currency for SADC launched; Peer review panel reports on convergence. INDICATORS TIME FRAMES MEASURES STRATEGIES OBJECTIVES Member States & Secretariat RESPONSIBILITY PRIORITY INTERVENTION AREA: Trade and Economic Liberalization and Development GOAL: The overall goal of this intervention is to facilitate trade and financial liberalization, competitive and diversified industrial development and increased investment for deeper regional integration and poverty eradication through the establishment of aSADC Common Market. TABLE 4.10 REGIONAL INDIC ATIVE STRATEGIC DEVELOPMENT PL AN 1 1 7