SADC AFRICA

SA places increasing trade among SADC countries top of chairship agenda

Pretoria has set itself an ambitious target of raising it to 50% during South Africa’s chairing of the bloc.

In his newsletter on Monday, President Cyril Ramaphosa said it is imperative that SADC countries link their economies and open more corridors for the trade of goods, services and industry.

Ramaphosa said increased beneficiation of mineral resources will have to top the SADC agenda.

"For example, our region holds much of the world’s critical minerals, yet we export the ore and import the battery. We are supplying an industrial revolution taking place elsewhere and buying back its products at a price set by others," said the first citizen.

This is a long-standing matter for the bloc, where the countries relatively agree that critical minerals mined in the region must be exported as market-ready finished products.

South Africa has placed increasing trade between Southern African Development Community (SADC) countries at the top of its chairship agenda as it officially takes over the role of chairing the bloc for the next 12 months.

Heads of State from the 16-member bloc are currently in Durban for the 46th SADC Summit.

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Intra-regional trade among SADC countries is at approximately 20%.

AN ECONOMIC POWERHOUSE

The SADC has stressed the need for more trade and interconnection between the 16-member States.

In Thursday’s opening address, SADC’s executive secretary, Elias Mpedi, said the bloc started as a liberation movement; however, it is now entering a phase where it aims to truly establish itself as an economic powerhouse.

Thursday also serves as the official passing of the SADC chairpersonship from Zimbabwe to South Africa.

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