Date: 14/09/2004
Source: Ministry of Trade and Industry
Title: M Mpahlwa: Commonwealth Business Council
KEYNOTE ADDRESS BY MINISTER MANDISI MPAHLWA AT COMMONWEALTH BUSINESS COUNCIL 3RD AFRICA INVESTMENT FORUM, Sandton Sun and Towers Intercontinental, 14 September 2004
SHARING SUCCESS: GOVERNMENTS AND BUSINESS WORKING TOWARDS AFRICAN GROWTH
Honourable Ministers,
Excellencies, honoured guests,
Introduction
It is indeed a pleasure to be associated with this important event that brings together distinguished leaders from governments, from the private sector, and from key organisations, all of whom are in a position to make a difference to the economic development of our continent.
The challenges we face in Africa
The African continent is characterised by underdevelopment and poverty. Some of the countries on the continent are more developed than others, but even the most developed are not without issues such as high unemployment rates, with many parts of the population in poverty, with a lack of access to basic needs.
Addressing the challenges through economic development based on the principles of NEPAD
The key to turning around the problems we face on the continent lies in the essence of the NEPAD framework, the goals of which are to eradicate poverty, to enable sustainable growth and development on the continent, to halt the marginalisation of Africa in the globalisation process and to enhance Africa's full and beneficial integration into the global economy. To this end NEPAD's priorities are to establish conditions for sustainable socio-economic development by ensuring peace and security; democracy; and good political, economic and corporate governance. Regional co-operation and integration is central to economic development, and economic development will be anchored on the continents' resources.
Economic development entails partnerships between the private and public sectors, with responsibilities on the parts of both
A key pillar of the integrated approach espoused in NEPAD is partnership between governments and the private sector, which is a fundamental imperative in the pursuit of Africa's economic renaissance.
The responsibility of governments
Consequently, as a Government we recognise and are engaged with the responsibility this imperative places on us, for example to create an enabling environment for trade and investment, to promote good political and economic governance, in accordance with the principles enshrined in the African Peer Review Mechanism. A regulatory environment must be created not merely to facilitate investment, but to attract investment to our continent. We are seeing on the continent trade policy reforms, industrial policy reforms and social policy reforms - predictable policies are being created, legal frameworks strengthened, bureaucratic procedures simplified, incentives for investment created, and critical infrastructure is being developed. Much more needs to be done, but much has been done as countries on the continent aim to adhere to the central tenets of NEPAD and APRM processes, under the oversight of the African Union.
The role of the private sector
As regards the private sector, we believe investing in the economies of Africa is a key contribution that business can make towards the NEPAD vision. This means investing in a way not only assist in turning around the marginal share of investment flows that Africa currently attracts, but that would also ensure that investment is broad-based and long-term, and contributes development of an industrial base and value-added manufacturing, rather than the tendency to concentrate on the extraction of natural resources.
Marketing Africa
To continue to present the solution to the underdevelopment of the continent as merely a political, social and corporate responsibility would be a mistake. Africa is a continent of opportunities. It is therefore not only commitment on the part of the private sector that we are calling for, but for the vision and leadership to be able to recognise not only the opportunities that exist, but the tremendous potential for opportunity that Africa has to offer, from the downstream development of the continents' vast resources, and the creation of critical infrastructure in roads, railways, ports and utilities, to the potential inherent in the improvement of Africa's position in the world trading system that is currently a high priority on the global economic agenda.
Our greatest challenge is in packaging and marketing the opportunities that exist on the continent to a private sector, both on the continent and internationally, that is constantly looking for opportunities, and consistently calling for those opportunities to be uncovered.
South Africa recognises the opportunities in Africa
In terms of South Africa's role: it will be obvious to many of you who follow what we do that strengthening our trade and investment links with the continent is a key policy priority of our Government, both to benefit our economy and more importantly those of our partners on the continent. Indeed, the continent has increasingly become a very important destination for both South African outward investment and exports of goods and services. Our current investment flows and trade figures with Africa, and the strengthening of regional arrangements and bilateral ties indicates our confidence in the opportunities that lie to be tapped on continent.
South Africa also recognises that it has a developmental role to play on the continent.
As among Africa's major economies, South Africa is politically firmly committed to, and acknowledges our responsibility in, contributing to the development of the continent. We believe that South Africa's economy and the economies of our neighbours are interdependent, and that our development can only be sustainable if we cooperate for mutual benefit with our neighbours. We are cutely aware of the huge trade imbalances between our country and most countries on the continent, and differences in levels of development.
South Africa is thus committed to using its technology, technical expertise and private sector capabilities to make a direct and meaningful contribution towards economic growth and poverty alleviation on the continent. South Africa will ensure an outward investment drive that will continue to develop infrastructure, and will focus on promoting investment into productive capacity on the continent. South Africa intends to focus on systematically promoting imports from the continent into South Africa, to take advantage of the opening of our markets. South Africa will assist partner countries where requested, in terms of developing regulatory frameworks, and other capacity building mechanisms.
South Africa will ensure that its own policy environment and trading arrangements aim to address the unsustainable trade imbalances, and will ensure co-operation agreements that aim to assist countries on the continent in terms of their specific requirements.
Economic development will not occur without visionary business and political leaders, working together as partners, with a spirit of innovation and dynamism that will give Africa its rightful place in the world economy.
Ladies and gentlemen, I would like thank the Commonwealth Business Council, working in partnership with the NEPAD Secretariat and the dti for bringing together people who can make a difference. To all of you, and all of you who are guests in South Africa, I welcome you most warmly, and look forward to a productive gathering that I have no doubt will result in some concrete business ventures that will most certainly make a contribution to Africa's economic development.
Issued by: Ministry of Trade and Industry
14 September 2004
Source: Ministry of Trade and Industry
Title: M Mpahlwa: Commonwealth Business Council
KEYNOTE ADDRESS BY MINISTER MANDISI MPAHLWA AT COMMONWEALTH BUSINESS COUNCIL 3RD AFRICA INVESTMENT FORUM, Sandton Sun and Towers Intercontinental, 14 September 2004
SHARING SUCCESS: GOVERNMENTS AND BUSINESS WORKING TOWARDS AFRICAN GROWTH
Honourable Ministers,
Excellencies, honoured guests,
Introduction
It is indeed a pleasure to be associated with this important event that brings together distinguished leaders from governments, from the private sector, and from key organisations, all of whom are in a position to make a difference to the economic development of our continent.
The challenges we face in Africa
The African continent is characterised by underdevelopment and poverty. Some of the countries on the continent are more developed than others, but even the most developed are not without issues such as high unemployment rates, with many parts of the population in poverty, with a lack of access to basic needs.
Addressing the challenges through economic development based on the principles of NEPAD
The key to turning around the problems we face on the continent lies in the essence of the NEPAD framework, the goals of which are to eradicate poverty, to enable sustainable growth and development on the continent, to halt the marginalisation of Africa in the globalisation process and to enhance Africa's full and beneficial integration into the global economy. To this end NEPAD's priorities are to establish conditions for sustainable socio-economic development by ensuring peace and security; democracy; and good political, economic and corporate governance. Regional co-operation and integration is central to economic development, and economic development will be anchored on the continents' resources.
Economic development entails partnerships between the private and public sectors, with responsibilities on the parts of both
A key pillar of the integrated approach espoused in NEPAD is partnership between governments and the private sector, which is a fundamental imperative in the pursuit of Africa's economic renaissance.
The responsibility of governments
Consequently, as a Government we recognise and are engaged with the responsibility this imperative places on us, for example to create an enabling environment for trade and investment, to promote good political and economic governance, in accordance with the principles enshrined in the African Peer Review Mechanism. A regulatory environment must be created not merely to facilitate investment, but to attract investment to our continent. We are seeing on the continent trade policy reforms, industrial policy reforms and social policy reforms - predictable policies are being created, legal frameworks strengthened, bureaucratic procedures simplified, incentives for investment created, and critical infrastructure is being developed. Much more needs to be done, but much has been done as countries on the continent aim to adhere to the central tenets of NEPAD and APRM processes, under the oversight of the African Union.
The role of the private sector
As regards the private sector, we believe investing in the economies of Africa is a key contribution that business can make towards the NEPAD vision. This means investing in a way not only assist in turning around the marginal share of investment flows that Africa currently attracts, but that would also ensure that investment is broad-based and long-term, and contributes development of an industrial base and value-added manufacturing, rather than the tendency to concentrate on the extraction of natural resources.
Marketing Africa
To continue to present the solution to the underdevelopment of the continent as merely a political, social and corporate responsibility would be a mistake. Africa is a continent of opportunities. It is therefore not only commitment on the part of the private sector that we are calling for, but for the vision and leadership to be able to recognise not only the opportunities that exist, but the tremendous potential for opportunity that Africa has to offer, from the downstream development of the continents' vast resources, and the creation of critical infrastructure in roads, railways, ports and utilities, to the potential inherent in the improvement of Africa's position in the world trading system that is currently a high priority on the global economic agenda.
Our greatest challenge is in packaging and marketing the opportunities that exist on the continent to a private sector, both on the continent and internationally, that is constantly looking for opportunities, and consistently calling for those opportunities to be uncovered.
South Africa recognises the opportunities in Africa
In terms of South Africa's role: it will be obvious to many of you who follow what we do that strengthening our trade and investment links with the continent is a key policy priority of our Government, both to benefit our economy and more importantly those of our partners on the continent. Indeed, the continent has increasingly become a very important destination for both South African outward investment and exports of goods and services. Our current investment flows and trade figures with Africa, and the strengthening of regional arrangements and bilateral ties indicates our confidence in the opportunities that lie to be tapped on continent.
South Africa also recognises that it has a developmental role to play on the continent.
As among Africa's major economies, South Africa is politically firmly committed to, and acknowledges our responsibility in, contributing to the development of the continent. We believe that South Africa's economy and the economies of our neighbours are interdependent, and that our development can only be sustainable if we cooperate for mutual benefit with our neighbours. We are cutely aware of the huge trade imbalances between our country and most countries on the continent, and differences in levels of development.
South Africa is thus committed to using its technology, technical expertise and private sector capabilities to make a direct and meaningful contribution towards economic growth and poverty alleviation on the continent. South Africa will ensure an outward investment drive that will continue to develop infrastructure, and will focus on promoting investment into productive capacity on the continent. South Africa intends to focus on systematically promoting imports from the continent into South Africa, to take advantage of the opening of our markets. South Africa will assist partner countries where requested, in terms of developing regulatory frameworks, and other capacity building mechanisms.
South Africa will ensure that its own policy environment and trading arrangements aim to address the unsustainable trade imbalances, and will ensure co-operation agreements that aim to assist countries on the continent in terms of their specific requirements.
Economic development will not occur without visionary business and political leaders, working together as partners, with a spirit of innovation and dynamism that will give Africa its rightful place in the world economy.
Ladies and gentlemen, I would like thank the Commonwealth Business Council, working in partnership with the NEPAD Secretariat and the dti for bringing together people who can make a difference. To all of you, and all of you who are guests in South Africa, I welcome you most warmly, and look forward to a productive gathering that I have no doubt will result in some concrete business ventures that will most certainly make a contribution to Africa's economic development.
Issued by: Ministry of Trade and Industry
14 September 2004
Advertisement
EMAIL THIS ARTICLE SAVE THIS ARTICLE FEEDBACK
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
