SA manufacturing industry still affected by economic crisis - Davies
South Africa’s Minister of Trade and Industry, Rob Davies says that the manufacturing industry in the country continues to be affected by the global financial crisis.
Minister Davies was speaking at Parliament in Cape Town and addressed the Portfolio Committee on Trade and Industry on governments Strategic Plan 2012-2017 and the Annual Performance Plan 2012-2015.
During his address to Member of Parliament, the Minister noted that South Africa has not yet fully recovered to the state the economy was in, before the crisis erupted in 2008.
However, Minister Davies did explain to the Portfolio Committee that in 2011, employment was stable and there was a general increase in manufacturing by around 7.5%.
According to the Department of Trade and Industry (DTI), the upcoming launch of the Industrial Policy Action Plan III (IPAP) will support gains made by the manufacturing industry, and will be part of the Presidential Infrastructure Coordinating Committee, which is tasked with implementing governments infrastructure and development plan. .
The Minister explained one of the key new aspects of the IPAP III is based on the promotion of regional economic development and trade integration on the African continent.
"These include everything from SACU, SADC, the Tripartite Initiative (SADC-COMESA-EAC), and the continental. Everybody realise that what Africa needs is to promote industrial development and we need to cooperate to promote industrial development, and that has to be a key leg of development integration approach of the African continent," said Minister Davies.
The DTI is set to co-ordinate work with other government departments and organizations, to implement these action plans laid out by Minister Davies.
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