SA to call for more investment at Davos

CAPE TOWN/SOUTH AFRICA, 10JUN2009 - Jacob Zuma...

South Africa is to use the 2013 World Economic Forum in Davos, Switzerland to call for more investment in the country and to boost the continent’s infrastructural projects.

The annual gathering of the world’s political, economic and business leaders takes place against the backdrop of a sluggish global economic recovery. President Jacob Zuma, who leads the country’s delegation, arrived this morning and will use the platform to promote the country’s vision for 2030, the National Development Plan.

The gloomy weather over the Davos resort is perhaps a reminder of the current difficult global economic condition. Themed, ‘The Resilient Dynamism’, that is what top leaders hope to achieve as they put together their heads to get the global economy back on its feet.

As South Africa tackles its triple challenges of poverty, inequality and unemployment, it hopes to use the occasion to lure more investments into the country.

via SABC News.com – SA to call for more investment at Davos:Tuesday 22 January 2013.

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Africa looking after its own affairs

Logo of the Southern African Development Community

President Jacob Zuma will lead a South African delegation to a special meeting of the Southern African Development Community‘s (SADC’s) security troika in Dar es Salaam, Tanzania on Thursday.

Zuma is attending the meeting in his capacity as chair of the SADC’s Organ on Politics, Defence and Security Cooperation.

He will be joined by Namibian President Hifikepunye Pohamba, Tanzanian President Jakaya Kikwete and Mozambique President Armando Guebuza, who together make up the organ.

High on Thursday’s agenda will be reports on recent political and security developments in the Democratic Republic of Congo (DRC) and Madagascar, as well as Zimbabwe’s elections.

South Africa’s Department of International Relations and Cooperation said the 15-nation SADC was still the primary vehicle for South Africa to promote regional development and integration within the southern African region.

“South Africa has a vested interest in seeing the regional political and security situation improve, which will create positive conditions for the improvement of the quality of life of South Africans and SADC citizens in general,” the department said in a statement on Wednesday.

Zuma will be accompanied by International Relations Minister Maite Nkoana-Mashabane, who is already in Dar es Salaam for a meeting of the ministers involved in the body.

via Zuma to lead SADC security meeting – SouthAfrica.info.

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African free trade area

English: Map of the African Union with suspend...

AMBITIOUS PLANS to create a continental free trade area in Africa, first suggested 21 years ago by regional leaders, were recently adopted by the African Union. The union says the free intra-African economic trading system should be operational by 2017.

On January 31st at the union’s 18th summit in Addis Ababa, Ethiopia, governments were told they needed to build infrastructure worth an estimated €46 billion over the next 10 years to facilitate the free trade zone across the continent.

While this target was acknowledged as challenging, Ethiopian prime minister Meles Zenawi was mandated to lead a seven-member heads of state committee, called the high-level African trade committee, to look into ways of raising the funds required.

Africa, my dream.

The taxation of aid money in Africa, taxes from minerals and mining deals and revenues drawn from dealings with banks and multilateral bodies have all been suggested as ways to fund the continental trade boost.

“We are determined to address the issue of stability and lead to the prosperity of our continent,” African Union chairman Yayi Boni said. “We have to ensure growth rate is above the population growth in Africa.”

The development of trade between African states has increasingly become a priority for the African Union because of its member states’ inability to tackle widespread poverty, despite annual economic growth rates above 5 per cent in many member states over the past decade.

Although African economic growth slowed in 2009 due to the global recession, regional gross domestic product (GDP) was well above rates posted in countries in Europe and the US.

By 2010, the continent had bounced back with GDP doubling to 5.4 per cent that year, according to the World Bank.

Nevertheless, despite this success South African president Jacob Zuma has pointed out that less than 10 per cent of Africa’s trade is between its states and that boosting this area should be a priority as a way to further develop the continent.

via Major challenges remain for African free trade area – The Irish Times – Mon, Feb 13, 2012.

South Africa in the Free Zone

Jacob Zuma and Jakaya Kikwete - Africa's Role ...

The visit to Oman of the President of South Africa, Dr Jacob Zuma, is part of a long and well orchestrated process designed to bring the two nations together in friendship, trade and tourism. The links being strengthened are the result of lengthy contacts and negotiations, which started with the establishment of a South African Embassy in the Sultanate. Oman was fortunate in South Africa’s choice and the South African diplomatic team went about the task of establishing closer ties between the two nations with zeal and enthusiasm.

The visit of the South African President this week is thus putting the seal on a friendship now well established and given the maritime links of both nations it is fitting that the South Africans are putting much energy in establishing links with the ever growing Port of Sohar and it’s free zone. Much work has been done at a diplomatic and commercial level to organise a very substantial investment in Free Zone Sohar, which is now clearly going to bear fruit.

Private industry interests both in South Africa and Oman have been working on plans to build a vast cold storage facility in the Free Zone for the storage of fresh produce, which will allow fresh products from South Africa to be exported to the whole region. When the facility is completed it will mean that Oman will no longer have to import South African fresh fruit from Dubai. Instead Oman will be exporting South African fruit and fresh products.

The link will be with Johannesburg Market, a wholly owned entity of the city of Johannesburg Municipality, which deals in over 1 million tonnes of fresh produce every year, making it the largest market of this type in the world in terms of volume.

This however is just one example of close co-operation. There are many more. As South Africa’s current Ambassador to the Sultanate, Yusuf Saloojee pointed out the recently signed Partnership Forum Agreement signed by the two nations allows for co-operation in the fields of education, science, technology and agriculture. Part of the visit too is a forum at the Al Bustan Hotel where prominent Omani and South African business representatives are meeting today.

There is also scope for tourism development, especially if direct flights can be established. With South Africa concentrating these days on increasing links through the Brics group of nations (Brazil, Russia, India, China and South Africa) it is becoming increasingly important commercially, politically and diplomatically. Oman has a powerful friend.

via Welcome South Africa | Oman Observer

Zuma urges opening up of world economy

CAPE TOWN/SOUTH AFRICA, 12JUN2009 - Jacob Zuma...

Johannesburg – World markets must open up to the least developed countries that had become “innocent bystanders” of the global financial crisis, President Jacob Zuma said on Thursday.

“We feel strongly about the need to open up the world markets in order to stimulate the recovery of the global economy,” he told a business meeting in France.

“The participation of low-income countries in global trade is crucial for their growth and poverty reduction endeavours,” Zuma said.

The meeting took place on the sidelines of the G20 Summit in Cannes.

Zuma said change was inevitable in order to curtail the effects of the crisis and “realistically” attain a higher and more equitable growth.

“We believe that this current crisis should lead to a realisation that change is inevitable. Balanced growth is just as important as strong and sustainable growth.”

Addressing growth was not possible without first dealing with the root causes of imbalances in the global economy.

“To this end, we need stronger commitments from large deficit and surplus countries to do a number of things.”

These included strengthening the fiscal policy environment, maintaining appropriate monetary policies and refraining from protectionism.

Zuma said surplus countries should support investment in developing and low income countries.

This would contribute enormously to promoting development, poverty reduction and decent work.

“Populations in emerging economies and least developed countries will continue to be subjected to harmful and excessive economic volatility and risks until agreement on these often divisive issues is reached within the G20,” Zuma said.

via Zuma urges opening up of world economy: Fin24: Economy