South Africa is working to diversify its export markets and strengthen manufacturing exports, while funding constraints have slowed industrial park development, according to Trade, Industry and Competition Minister Parks Tau.
Presenting the department’s 2025/26 annual report to Parliament’s trade and industry portfolio committee on October 7, Tau said market diversification efforts included trade preferences involving the European Union, SADC, BRICS Plus, the United States, the United Kingdom and other African markets.
According to SAnews, Tau said export promotion efforts included support for small, medium and micro enterprises and black-owned businesses.
The department’s revised industrial strategy places special economic zones and industry-specific industrial parks at its centre. However, only 10 of the 45 targeted industrial parks received funding.
Industrial investment exceeded R31 billion against a R10 billion target, while local procurement reached R86 billion against a R50 billion target, the department reported.
Tau also highlighted external pressures on manufacturing sectors, including steel tariffs constraining market access.
Negotiations with the UK on electric vehicles were continuing amid concerns about domestic capacity and future investment interest, he said.
