Africa has experienced improved economic governance, however, the continent must transform that growth spurt in sustainable ways, Trade and Industry Minister Dr Rob Davies said this week.

Speaking at the South Africa-Turkish Business Forum in Istanbul, Turkey, he said that significant industrialisation efforts across Africa were required to overcome the continent’s largest inter-regional trade barriers, which included a lack of infrastructure and productive capacity.

“Africa cannot continue to grow simply on the bases of the supply of raw materials to fuel industrialisation process taking place elsewhere,” said Davies. Consequently, Africa was engaging in a number of ventures to boost and expand regional integration to deal with this.

Meanwhile, he pointed out that bilateral relations between South Africa and Turkey were well below potential.

Davies commented that, while a decrease in trade was concerning, there was potential to increase the volume of two-way trade and investment, create a more diverse range of South African exports and develop a greater proportion of beneficiated and higher value goods and services in the country’s export basket to Turkey.

Trade between South Africa and Turkey decreased from R10.6-billion in 2008, to R5.1-billion in 2009, reaching R4.9-billion in 2010. This was attributed in part to the global economic crisis.

Davies was in Turkey this week to cochair the second session of the Turkey–South Africa Joint Economic Commission meeting, which was aimed at promoting trade, investment and economic cooperation between the two countries.