SA will continue to work for equitable world trade system

RAY SMUTS IT’S A sad reality that rules of the multilateral trading system have benefited the already wealthy rather than creating a better life for all, says Lindiwe Hendricks, deputy minister of Trade and Industry. “It takes courage and time to achieve this because there is often strong opposition by a few who dread the short-term pain of reforms in the interests of prosperity for all,” said the minister, keynote speaker at last week’s World Free Zone Convention 2004 in Cape Town. She pointed out that the current framework underpinning the multilateral trading system had not yielded an equitable sharing of the benefits from increased trade between developed and developing countries. It was for this reason that South Africa had over the past ten years chosen to work collectively with other developing countries for a fair and equitable multilateral trading system, a system corresponding to the needs of those countries and economies in transition. “We are thus committed to active engagement within multilateral trade negotiations, not as a matter of diplomatic courtesy but as a contribution to the establishment of a fair and equitable system of world trade.”