Intra-African trade should be encouraged

24 Aug 2011

The recently launched agreement for the establishment of the Tripartite Free Trade Area has made it more urgent to promote intra-Africa trade and that should be at the top of the continent’s economic agenda. This was said by the Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe during South Africa-Ghana Business Forum that was held today at the Pavilion Conference Centre in Cape Town.

The Tripartite Free Trade Area centres on creating the continent's biggest free trade bloc to create a single continent-wide amongst the Common Market for Eastern and Southern Africa (COMESA), the East African Community (EAC) and the Southern African Development Community (SADC).

Thabethe said that this will at the end encourage economic growth as Africa is reach with minerals.

“Strengthening trade and investment links with the continent is a key policy priority of the government, both to benefit our economy and more importantly those of our partners on the continent. Most African countries are endowed with tremendous natural resources and thus have the potential to develop into modern industrialised states that can compete on the world stage,” said Thabethe.

She also said large investment in infrastructure, telecoms, and in finance can help lay the ground for the establishment of key underlying markets and services to enable take off in Africa.

Business people from both South Africa and Ghana were encouraged to take advantage of launched agreement for the establishment of the Tripartite Free Trade Area and to make intra-Africa trade a priority. The Department of Trade and Industry (the dti) through Trade and Investment South Africa signed a Memorandum of Understanding on Investment and Trade with the Ghanaian Investment Authority.

Today’s business forum was part of a two-day State visit by the President of Ghana, H.E. President John Atta Mills.

Bilateral trade between the two countries has been growing steadily since 2003 with the latest available annual trade statistics for 2010 indicating South African exports to Ghana of R 2, 523 billion and imports from Ghana of R84, 275 million.

For more information contact:
Mamosa Dikeledi
Tel: 012 394 1680
Cell: 083 584 6856
E-mail: MDikeledi@thedti.gov.za

Enquiries:
Sidwell Medupe
Tel: 012 394 1650
Cell: 079 492 1774
E-mail: MSMedupe@thedti.gov.za

Source: Department of Trade and Industry

Issued by: Department of Trade and Industry
24 Aug 2011

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