Trade essential to growth – minister

2012-04-19 10:11

Trade and Industry Minister Rob Davies is at the G20 Trade Ministerial Meeting which starts in Mexico today.

“The themes for discussion include ‘trade as a source of growth’, ‘trade as a source of jobs’, and ‘the imperative to keep markets open and to keep opening markets’,” the department of trade and industry said today.

South Africa believed improving conditions to increase global trade was critical to stimulate global economic recovery.

Davies said the G20 must tackle the growing threat of protectionism amongst the G20 countries.

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

“G20 should foster concrete trade capacity measures to strengthen integration of regional markets, and market access, and the availability of trade finance in developing countries.”

Following the G20 meeting, Davies would head to Qatar to attend the World Investment Forum 2012, organised by the United Nations Conference on Trade and Development with the Qatar government.

This forum would look at the changing patterns of foreign investment in the post-crisis global economy, including investment in low-carbon growth and technologies.

Davies and his Qatar counterpart, Mohamed Bin Saleh al-Sada, would co-chair a ministerial round table on the policy challenges for investment and enterprise development.

“Deliberations will serve to guide investment policymaking at the national and international levels, with a view to maximising sustainable investment, enterprise and development outcomes,” the department said.

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