The Department of Trade and Industry (dti) has identified the Association of the Southeast Asian Nations (ASEAN) economic bloc as a priority market for South Africa’s exports.
“Our strategic relation with the ASEAN community will enable synergies in relation to inward direct investment and export promotion, where African value-added products are concerned,” said dti deputy minister, Bulelani Magwanishe.
He noted that the dti was looking to boost intra-Africa trade and build an integrated market in Africa to the approximate value of US$2.6 trillion – measured from the capacity the African market contains.
“Therefore, to achieve this targeted value, we must consider and strengthen partnerships like the ASEAN community that are available to equitable cooperation and strategic value chains,” added Magwanishe.
He highlighted agriculture, clothing and textiles, technology, mining and the Blue economy as sectors targeted by the dti and pointed out that government had developed workable action plans within these sectors.
According to Magwanishe, these plans were aimed at upscaling Africa’s industrialisation capacity in order to increase the production of value-added exports.
“Our threads of partnership with the ASEAN community should ensure that more formal institution links, technical cooperation, the protection of regional stability and trade relations on the basis of reciprocity,” he said.
