http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.24Change: -0.04
R/$ = 10.62Change: -0.05
Au 1299.50 $/ozChange: 1.94
Pt 1481.50 $/ozChange: 2.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 05, 2012

Africa policies should focus on diversification, competitiveness

Back
Lagos|Africa|Education|Industrial|System|Systems|Africa|Nigeria|South Africa|Financial Services|Manufacturing|Manufacturing Output|Manufacturing Sector|Products|Systems|Infrastructure|Olusegun Aganga|Rob Davies
|Africa|Education|Industrial|System|Systems|Africa||Products|Systems|Infrastructure|
lagos|africa-company|education-company|industrial|system|systems-company|africa|nigeria|south-africa|financial-services|manufacturing|manufacturing-output|manufacturing-sector|products|systems|infrastructure|olusegun-aganga|rob-davies
© Reuse this



Africa had to urgently develop industrial policies that would underpin the diversification of its production structures, raise its competitiveness levels and expand its export basket, Trade and Industry Minister Dr Rob Davies said this week.

“It is only through these targeted policy interventions and the commensurate public and private investments that Africa can begin to raise manufacturing output and increase its share of global trade and production,” Davies stated at the second Nigeria International Investment Forum, in Lagos.

He added that as an overarching imperative, African countries must defend their policy space to craft industrial policies that would place the continent on a sustainable and inclusive growth trajectory.

Davies indicated that Africa’s growth had mainly been driven by the commodities’ boom and the rise of service industries on the back of products not produced in Africa.

He added that the next phase of Africa’s growth had to be rooted in a new paradigm of manufacturing and adding value to local products.

“A globally competitive manufacturing sector creates a sustainable economic system, encourages domestic and foreign investment, creates employment and improves a country’s balance of payments. It also creates employment beyond the manufacturing sector in supportive sectors such as financial services, infrastructure, information systems and education,” Davies said.

Further, he highlighted the need for integration in Africa.

“Such integration, however, must not only entail institutionalised market integration, but development integration, which emphasises cross-border infrastructure development as a means to strengthen and deepen industrialisation and create manufacturing value-chains in Africa.”

Davies also met with his counterpart Olusegun Aganga to discuss progress made since the signing of a memorandum of understanding (MoU) on economic cooperation between South Africa and Nigeria, in May.

As per the MoU, the Ministers agreed on a bilateral work programme that focused on industrial cooperation, small and medium-sized enterprises development and financing; trade facilitation; standards cooperation and infrastructure development.

The programme was aimed at facilitating increased trade in value-added products and bilateral investments between the two countries.
 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines
 
 
 
 
 
 
 
 
Other Trade News
Rob Davies
South Africa will use the upcoming US-Africa Leaders' Summit, which will also encompass the 2014 edition of the Africa Growth and Opportunity Act (Agoa) Forum, to appeal for a 15-year extension of the nonreciprocal trade arrangement, as well as South Africa’s...
President Jacob Zuma
South Africa and Lesotho are expected to strengthen bilateral relations when President Jacob Zuma kicks off his working visit to Lesotho, on Tuesday.  During the visit, Zuma is expected to discuss bilateral cooperation and regional and multilateral matters with the...
The head of economics and trade at the Delegation of the European Union (EU) in Pretoria has acknowledged South Africa’s trade negotiators won important concessions in the long-running Economic Partnership Agreement (EPA) trade talks. But he says it was South...
More
 
 
Latest News
The Medupi power station project
Electricity producer Eskom has, for the first time, offered a detailed timeline for the synchronisation of Medupi Unit 6, which is officially scheduled for December 15, 2014. Addressing a joint meeting of the Portfolio Committees on Public Enterprises and Energy on...
As South Africa had largely exhausted the use of traditional mechanisms to stimulate the fiscus, government now needed to swing its focus to dealing with the internal structural issues that had, thus far, prevented the country from unlocking its true economic value,...
The Western Cape High Court will on Monday hear a Sanral application for information about the proposed N1/N2 Winelands Toll Highway Project to be kept secret, the City of Cape Town said. The application would be heard behind closed doors, mayoral committee member...
More
 
 
Recent Research Reports
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
Real Economy Insight: Steel 2014 (PDF Report)
This four-page brief covers key developments in the steel industry over the past 12 months. It provides an overview of the global and South African steel and stainless steel markets, South Africa’s major steel producers and events that have shaped these markets.
 
 
 
 
 
This Week's Magazine
Multinational semiconductor chipmaker corporation Intel announced its national campaign to further acquire partners to drive its She Will Connect programme, an initiative that aims to expand digital literacy skills to young women in developing countries, further into...
South Africa's MeerKAT radio telescope array programme should get back on schedule within a few months. This assurance has been given by SKA South Africa (SKA SA) associate director: science and technology Prof Justin Jonas. Early last month, Science and Technology...
The Passenger Rail Agency of South Africa’s (PRASA’s) Metrorail service will remain a subsidised service following its current multibillion-rand rolling stock, station, depot and signalling upgrade programme. PRASA group CEO Lucky Montana has allayed fears that...
GARYN RAPSON Contaminated Land Provisions in the National Environmental Management: Waste Act No 59 of 2008 will open the door for court battles to determine who will be held liable for the remediation
The uncertainties around the remediation of affected areas as addressed in the Contaminated Land Provisions in the National Environmental Management: Waste Act No 59 of 2008 will possibly spark litigation and disputes between landowners and businesses, contractors...
South Africa is currently the largest component of the African Development Bank’s (AfDB’s) active portfolio in Southern Africa, comprising 62.5% of the bank’s $7.9-billion exposure to the 12-country region – the second largest beneficiary is Mauritius, which...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks