Economic integration is key, says Davis

Minster of Trade and Industry Rob Davies. File picture

Minster of Trade and Industry Rob Davies. File picture

Published Oct 2, 2015

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Johannesburg - Regional integration in Africa was the key driver to overcome economic developmental challenges and achieve sustainable economic growth on the continent, South Africa's Trade and Industry Minister Rob Davies said on Friday.

“There is a consensus that by merging its economies and pooling its capacities, endowments and energies, the continent can overcome its development challenges,” Davies said while speaking at the 2015 South Africa-Italy Summit held in Cape Town.

“Regional integration would allow it to not only achieve sustained and robust economic growth, but also enhanced movement of goods, services, capital and labour, socio-economic policy coordination and harmonisation, infrastructure development as well as the promotion of peace and security within and between the regions.”

Davies said Africa, and the Southern African Development Community (SADC) in particular, were focusing on regional integration with a special emphasis on market integration, industrial and infrastructure development. He said during the next few years market integration would be advanced through consolidating the SADC Free Trade Area.

Davies said it was also important to note that infrastructure on the African continent was designed to export minerals. “It is imperative that we reverse this by linking African economies to diversify and beef-up the value-adding production onto the continent,” said Davies.

African News Agency

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