The call was made at the official opening of the SADC Industrialisation Week, taking place July 27-31, in South Africa’s (SA) KwaZulu-Natal province, where policymakers and business leaders are meeting to discuss ways to expand manufacturing, trade and regional value chains.
The gathering is being held ahead of the 46th SADC Summit of Heads of State and Government, scheduled to take place next month.
SA Trade, Industry and Competition Minister Parks Tau said regional economies are showing signs of recovery, but growth remains too slow to meaningfully reduce poverty and unemployment.
Tau said the region must move with greater urgency to implement the SADC Industrialisation Strategy and Roadmap, approved in 2015 as a framework for structural transformation. “The SADC Industrialisation Strategy and Roadmap approved in 2015 provides the framework. Admittedly, progress has been limited,” Tau said.
Tau said one of the major constraints has been the region’s reliance on external funding. “Much of this is because SADC has relied heavily on donor funding which is declining and often tied to donor priorities rather than our own,” Tau said.
According to Tau, member states must take greater ownership of the industrialisation agenda and ensure that partnerships support regional priorities. “We must drive our own agenda and pursue partnerships that support beneficiation and value addition at source,” Tau said.
The Industrialisation Week is expected to focus on practical measures to strengthen manufacturing capacity, improve intra-regional trade and promote value addition in sectors where the region has competitive advantages.
–ChannelAfrica–
