Africa must trade with itself: Minister Gigaba

Finance Minister Malusi Gigaba engaging with various stakeholders at the WEF on Africa sessions. GCIS

By– SAnews.gov.za

Durban – As the World Economic Forum on Africa (WEFA) draws to an end on Friday, South Africa’s Finance Minister Malusi Gigaba has argued that Africa should, more than ever before, trade among themselves.

Minister Gigaba says Africa must boost its intra-regional trade and identify new emerging markets within the continent.

“African countries need to identify new markets to focus more on trading with one another, identify markets in emerging economies and trade with those countries that are still open to trade,” Minister Gigaba said at the Inkosi Albert Luthuli International Convention Centre, in Durban, on Friday.

He said although there were opportunities for African countries globally, these often came with risks.

“However, I think on the overall, we need to take a positive outlook and focus on what we need to do in order to grow our economies to sustain the growth over the medium to long term,” Minister Gigaba said.

The overall theme for this year’s WEFA meeting is “achieving inclusive growth”, a direction, President Jacob Zuma on Thursday said, South Africa has begun to take.

“In our country we speak about radical economic transformation, which in our view will take us on the path to inclusive growth and a better life for all,” he told delegates at the opening of the conference.