South Africa’s Minister of Trade and Industry, Dr Rob Davies says African Ministers of trade have identified three priority areas to achieve industrial development and boost the continent’s economy. Minister Davies was speaking at the fourth conference of the African and Chinese Entrepreneurs that started in Beijing, China, yesterday.
“African ministers of trade have identified three sources of industrial development across the continent as a whole. The first of these is beneficiation or value addition to mineral products. We need investments in Africa that assist us add value to our products and also create a competitive advantage for Africa based on access to mineral products as a basis for industrial development. We also need to do the same to our agricultural products,” said Davies.
He added that the second area that ministers have decided to give priority was infrastructure development.
“The infrastructure that we need to build and create needs also to become a vehicle and a tool for industrial development and industrialisation. Thirdly, the distinguished Chinese economist, Justin Lin, former World Bank Chief Economist has argued that within the framework of the ‘flying east strategy’, there are opportunities for African countries to pick up on a number of industrial sectors and activities in the People’s Republic of China. And I think this is the source of industrial development and opportunities to boost industrialisation and the growth of the African economy,” emphasised Davies.
The Minister added that he believed there was a need for African business leaders to think of very creative and sustained ways of establishing partnerships within the framework of industrial development and regional integration.
Enquiries:
Sidwell Medupe, Departmental Spokesperson
Cell: 079 492 1774
Tel: 012 394 1650
E-mail: MSMedupe@thedti.gov.za
