{"id":250076,"date":"2023-02-15T11:13:31","date_gmt":"2023-02-15T09:13:31","guid":{"rendered":"https:\/\/www.myza.co.za\/sa-plans-to-raise-r2-trillion-by-2028-through-intra-africa-trade\/"},"modified":"2023-02-15T11:13:31","modified_gmt":"2023-02-15T09:13:31","slug":"sa-plans-to-raise-r2-trillion-by-2028-through-intra-africa-trade","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/sa-plans-to-raise-r2-trillion-by-2028-through-intra-africa-trade\/","title":{"rendered":"SA plans to raise R2 trillion by 2028 through intra-Africa trade"},"content":{"rendered":"
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South Africa\u2019s diplomatic missions across the globe stand ready to mobilise R2 trillion by 2028, with a particular focus on increasing intra-Africa trade, which stands at 17% of total trade.<\/p>\n

This is according to the Deputy Minister of International Relations and Cooperation, Alvin Botes, who participated in the debate on President Cyril Ramaphosa’s State of the Nation Address (SONA) on Tuesday.<\/p>\n

Members of Parliament from both Houses gathered at the Cape Town City Hall to debate the address.<\/p>\n

\u201cMr President, because of your leadership, in 2021, we exported more to Africa — R385 billion — than to the European Union’s R355 billion.\u201d<\/p>\n

According to Botes, the African Continental Free Trade Agreement (AfCFTA) would cover a market of 1.2 billion people in Africa, with a combined gross domestic product (GDP) of US$2.5 trillion.<\/p>\n

He told Parliament that this would increase intra-African trade by up to 52.3% and expand the size of Africa\u2019s economy to US$29 trillion by 2050, as estimated by the United Nations Economic Commission for Africa. <\/p>\n

The AfCFTA is one of the flagship projects of Agenda 2063: The Africa We Want, enjoined by its seven aspirations to realise inclusive prosperity.<\/p>\n

\u201cA South African, Wamkele Mene, is the Secretary-General and the penholder on implementation of the prescripts of the Abuja Treaty and Lagos Plan of Action. The promotion of economic diplomacy has dialectically contributed to your investment target of R1.2 trillion, Mr President,\u201d Botes said.<\/p>\n

Global governance<\/strong><\/p>\n

As the only African country in the G20 or Group of Twenty and BRICS (Brazil, Russia, India, China, and South Africa), as well as a key strategic partner of the European Union (EU), the country continues to place the African continent and the global South on the agenda.<\/p>\n

He said a critical priority for 2023 is South Africa\u2019s Chairship of BRICS under the theme: \u201cBRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism\u201d.<\/p>\n

\u201cThe Global South is elated with the re-election of Brazilian President Lula da Silva, and we welcome his support for your leadership in BRICS.\u201d<\/p>\n

In addition, he said one of the issues that will be discussed in BRICS, is how to restructure the global, political, economic and financial architecture so that it becomes more balanced, representative, inclusive, and equitable.<\/p>\n

Under President Ramaphosa\u2019s leadership, Botes said the international community voted overwhelmingly for South Africa to be a member of the United Nations Human Rights Council (UNHRC) for the next three years (2023-2025).<\/p>\n

He also announced that the eighth South Africa-European Union Summit will be hosted on home soil in the first half of 2023.<\/p>\n

\u201cI wish to reiterate the South African government\u2019s appreciation for the continued EU support to development cooperation and EU\u2019s support during the pandemic and to Biovac and the mRNA vaccine technology transfer hub in South Africa,\u201d he said.<\/p>\n

\u201cWe further appreciate the technical assistance received from the EU related to the possible greylisting of South Africa by the Financial Action Task Force.\u201d \u2013 SAnews.gov.za<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

South Africa\u2019s diplomatic missions across the globe stand ready to mobilise R2 trillion by 2028, with a particular focus on increasing intra-Africa trade, which stands at 17% of total trade. This is according to the Deputy Minister of International Relations and Cooperation, Alvin Botes, who participated in the debate on President Cyril Ramaphosa’s State of […]<\/p>\n","protected":false},"author":1,"featured_media":250077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[38678],"class_list":{"0":"post-250076","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-south-africa","8":"tag-sanews","9":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.myza.co.za\/press\/wp-content\/uploads\/2023\/02\/sa-plans-to-raise-r2-trillion-by-2028-through-intra-africa-trade.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/250076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=250076"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/250076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media\/250077"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=250076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=250076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=250076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}