SA targets 50% intra-SADC trade under chairmanship: Lamola
Minister Ronald Lamola has addressed the media in Durban were the 46th SADC Summit is under way.
South Africa's International Relations and Cooperation Minister Ronald Lamola announced during the 46th SADC Summit in Durban that the country aims to achieve a 50% share of intra-SADC trade in the foreseeable future. This would be a significant achievement for South Africa as it assumes the chairmanship of the 16-member regional body.
Currently, regional integration stands at 20%, and the goal is to increase this to 50% within the South African chairmanship tenure. The trade growth will be overseen by the Minister of Trade, who will determine the specific timelines for reaching the 50% target. Additionally, Lamola emphasized the importance of improving the manufacturing sector, which is currently declining within the region, as well as trading in minerals and value-added goods such as food.
He cited Tanzania as an example of a country that produces essential food items that can be traded among SADC nations.
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