SADC Plans for Economic Growth

| May 4, 2015

Southern African Development Community (SADC) Extraordinary Summit held in Zimbabwe on April 29, ended with approval of the regional bloc’s Industrialisation Strategy and Roadmap.

The Minister of Trade and Industry, Mr Vincent Seretse, said in an interview that theirs was “a very successful meeting considering how the strategy was presented and adopted.”

Mr Seretse said the thrust of the strategy was to see that member states improved their economies as well as enhance the technological investments in their respective areas. The strategy also targeted to deepen integration, increase intra-trade as well as boost export earnings and create jobs.

More importantly, the strategy looked at growing economies of member states, he said, adding that at the moment the average growth rate was four per cent and member states were looking at increasing it to seven per cent.

Mr Seretse further said the SADC industrialisation strategy was aligned to the continental vision, Agenda 2063, a strategy aimed at optimising the use of Africa’s resources for the benefit of all Africans.

He further said the strategy also attended to three binding constraints being inadequate infrastructure, skill sets within the region and resources. Minister Seretse said the strategy was a welcome development to Botswana as the country had an industrial policy in place which was in alignment with the industrial strategy of the region.

He said cabinet had approved special economic zones where effectively as a country, there would be the development of industrial zones to attract foreign investors to come and set up businesses in Botswana and thereby fight unemployment and poverty.

“We are talking of industries that will manufacture things that will be export led,” he said.

On other issues, the minister said South Africa President, Mr Jacob Zuma told the summit that his country was against xenophobia and that like other member states, they had signed conventions that did not condone intolerance of whatever nature.

He said President Zuma mentioned that South Africans had come forward to speak against xenophobia in different forums, such as churches and sports fraternity.

Source : BOPA

Source : Botswana Daily News

Category: General

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