Intra-African trade remains a priority for the South African Government,
Director-General (DG) of the Department of Trade and Industry (dti), Lionel
October, said on Thursday, 13 September 2018.
¡§The priority for this
government in the medium term is to promote intra-African trade and broaden
integration across existing regional communities within a development
¡§As a result, South Africa has acceded to the African Continental Free Trade
Area Agreement with the African Union and due to these efforts, the rest of
Africa is still a major destination for South Africa¡¦s exports, estimated at
approximately 30%,¡¨ said DG October.
He was briefing Parliament¡¦s Portfolio Committee on Trade and Industry on
the department¡¦s annual progress in meeting its objectives, as contained in
its Annual Report 2017/18.
He said South Africa¡¦s exports to the rest of the African continent were
mainly in value-added products, which supported the objectives of industrial
development, job creation and economic transformation.
¡§With regard to the transformation of the economy to promote industrial
development, investment, competitiveness and employment creation, exports
have doubled in the 10-year period, which has also seen R45 billion worth of
investment by the majority of the world¡¦s leading global vehicle
¡§In the leather sector, 22 new factories were opened, supporting 2 200
jobs,¡¨ said DG October.
In addition, 849 enterprises received financial support across all
incentives offered by the department.
The incentives would result in over 28 000 jobs projected to be retained and
over 15 000 new jobs projected to be created through these approvals, while
R36 billions of private-sector investment was leveraged across all
DG October said in the efforts of facilitating broad-based economic
participation through targeted interventions to achieve more inclusive
growth, the number of investors in four operational special economic zones
increased from 72 to 84, and the number of total direct jobs increased from
10 443 to 13 948