'Compelling' case for stronger South-South trade links - Mpahlwa
Thématique :
chine,
inde,
sud afrique
By: Keith Campbell, 14/10/2008
The current international financial crisis shows that governments and business must work together to manage markets and ensure growth, South African Trade and Industry Minister Mandisi Mpahlwa said on Tuesday.
Speaking at the final session of the third India, Brazil, South Africa (Ibsa) Business Summit in Delhi, Mpahlwa added that the world stood on the cusp of significant changes in the global economy, marked by the rise of countries such as China, India, Brazil, Mexico, South Africa, and Argentina.
He pointed to the "resilience" of the South African economy, illustrated by the fact that the country is currently enjoying its longest recorded sustained period of growth. "Despite challenges," he affirmed, "the medium-term outlook for the South African economy looks strong."
Trade between developing countries has been growing about twice as fast as total world trade. "South-South trade is no longer on the periphery of the global economy," he highlighted.
"The Ibsa countries are important players in this process. The argument to continue to build South-South linkages, particularly between Ibsa, remains compelling." He emphasised the need for cooperation between the three countries, including business as well as government.
Regarding trade and investment within Ibsa, he argued that it was important that trade agreements between countries of the South be structured to focus on complementarities and not on destructive competition. "It is by taking advantage of real economy opportunities that Ibsa countries can develop trade and investment," he said.
He affirmed that tariff barriers were not the most important barriers to the development of trilateral trade within the Ibsa group. "We must focus on non-tariff barriers." More work needed to be done on dealing with non-tariff barriers and he urged the business community to help identify those that needed to be addressed. South-South trade offered the opportunity to promote value-added exports.
"We have established a firm platform for cooperation across a wide range of areas," he stated. He described Ibsa as the logical outcome of the three countries' collaborative efforts in multilateral forums over the past 15 or so years.
The current international financial crisis shows that governments and business must work together to manage markets and ensure growth, South African Trade and Industry Minister Mandisi Mpahlwa said on Tuesday.
Speaking at the final session of the third India, Brazil, South Africa (Ibsa) Business Summit in Delhi, Mpahlwa added that the world stood on the cusp of significant changes in the global economy, marked by the rise of countries such as China, India, Brazil, Mexico, South Africa, and Argentina.
He pointed to the "resilience" of the South African economy, illustrated by the fact that the country is currently enjoying its longest recorded sustained period of growth. "Despite challenges," he affirmed, "the medium-term outlook for the South African economy looks strong."
Trade between developing countries has been growing about twice as fast as total world trade. "South-South trade is no longer on the periphery of the global economy," he highlighted.
"The Ibsa countries are important players in this process. The argument to continue to build South-South linkages, particularly between Ibsa, remains compelling." He emphasised the need for cooperation between the three countries, including business as well as government.
Regarding trade and investment within Ibsa, he argued that it was important that trade agreements between countries of the South be structured to focus on complementarities and not on destructive competition. "It is by taking advantage of real economy opportunities that Ibsa countries can develop trade and investment," he said.
He affirmed that tariff barriers were not the most important barriers to the development of trilateral trade within the Ibsa group. "We must focus on non-tariff barriers." More work needed to be done on dealing with non-tariff barriers and he urged the business community to help identify those that needed to be addressed. South-South trade offered the opportunity to promote value-added exports.
"We have established a firm platform for cooperation across a wide range of areas," he stated. He described Ibsa as the logical outcome of the three countries' collaborative efforts in multilateral forums over the past 15 or so years.
