South Africa is fully committed to, and acknowledges its responsibility in, contributing to the development of the continent. This was said by the Minister of Trade and Industry, Dr Rob Davies at the doing business with Botswana Business Forum which took place at the Royal Elephant Hotel in Centurion, today.
“We believe that South Africa’s economy and the economies of our neighbours are interdependent and that our development can only be sustainable if we cooperate for mutual benefit with all our neighbours. South Africa is thus committed to utilising its technology, technical expertise and private sector capabilities to make a direct and meaningful contribution towards regional integration, economic growth and poverty alleviation on the continent,” said Davies.
He added that strengthening trade and investment links with the continent was a key policy priority of the South African Government, both to benefit the South African economy and more importantly those of the country’s partners on the continent.
“Indeed, the continent has increasingly become a primary destination for both South African outward investment and exports of goods and services, as evidenced in the increase in trade and investment flows. Most African countries are endowed with tremendous natural resources and thus have the potential to develop into modern industrialised states that compete on the world stage with other developed and newly industrialised nations. However, this will only occur where investments are not merely extractive but have a sustainable developmental impact,” said Davies.
Davies promised that South Africa would continue to be an important source of new foreign investment in Africa, on a continent that generally finds it difficult to attract foreign direct investments.
“Large investments in infrastructure, telecoms, and in finance can help lay the ground for the establishment of key underlying markets and services to enable a “take-off”. Major infrastructure projects such as Mmamabula power project and the Trans Kalahari Railway line (TKR) can unlock economic development. They can also raise consumer expectations, and encourage local producers to improve competitiveness. Developmental approaches to private procurement can also be an important driver of local business development,” said Davies.
Botswana President Lieutenant General Seretse Khama Ian Khama, said South Africa and Botswana were in continuous negotiations to seek positive win-win solutions to both their bilateral economic relations and the Economic Partnership Agreement. He urged business people from South Africa and Botswana to also come closer to each other and discuss economic opportunities that they can explore for the benefit of the citizens of both countries.
Participants from both countries were encouraged to consider intra-Africa trade a priority in the current decade, as well as for future integration. In addition, closer collaboration between the Botswana Export Development and Investment Authority (BEDIA) and Trade and Investment South Africa (TISA) will be accorded the necessary and appropriate resources in order to assist business people who want to invest in Botswana and South Africa.
Enquiries:
Sidwell Moloantoa Medupe
Tel: 012 394 1750
Cell: 073 522 6801
E-mail: MSMedupe@thedti.gov.za
Source: Department of Trade and Industry
