Regional industrialisation requires a strong Southern African Development Community (SADC) free trade area (FTA), says the Department of International Relations and Cooperation.
Addressing the SADC Industrialisation Week – currently taking place at the Focus Rooms in Sunninghill, Johannesburg – director general of the Department of International Relations and Cooperation (Dirco), Kgabo Mahoai, said the FTA would facilitate increased export diversification, greater competitiveness, more inclusive growth and increased movement of goods and services.
He pointed out that the FTA would not only facilitate increased export diversification but would also help create the economies of scale to facilitate new industrial capabilities to take advantage of a large integrated market.
“The global economy is unfortunately characterised by serious push backs on globalisation and trade agreements. This has resulted in an increase in protectionism - and with our small economies by global standards as SADC, we should therefore put more focus on improving efficiencies in the regional market and promoting regional integration,” Mohoai said.
He appealed to the private sector to work with government to create new opportunities for cross-border manufacturing under the SADC Industrialisation Strategy.
Industrialisation Week, which is being held under the theme: ‘Partnering with the Private Sector in Developing Industry and Regional Value Chains’ concludes on Friday.
