Matambo urges SADC to foster private sector
Isaac Pinielo | Wednesday March 16, 2016 14:53
Speaking at the SADC Council of Ministers meeting that ended in Gaborone yesterday, Matambo noted that a strong commitment is also required from the private sector to promote investment in areas where market gaps exist.
“Promoting sustainable and inclusive economic growth is vital for promoting long term economic development as well as addressing the demographic challenges that we are currently facing,” he said.
Matambo added that such challenges include the impact of climate change and migration. According to the minister, it is therefore important that the SADC member states create larger domestic markets through industrialisation and economic diversification, and provide new economic opportunities.
Earlier on when welcoming delegates, Vincent Seretse, who is Minister of Trade and Industry and chairperson of the SADC Ministerial Task Force on Regional Economic Integration, reminded the delegates on the purpose and importance of adopting the Industrialisation Strategy and Roadmap in 2015.
“The strategy sets out a pathway for the SADC region to rise up and increase its contribution to global trade. Its significance requires visionary leadership, and compels us to remain seized with the process to ensure implementation for results,” Seretse said.
The meeting also approved the Trade Facilitation Programme, which is one of the targeted outputs in the Revised Regional Indicative Strategic Development Plan (RISDP).
In her remarks, SADC executive secretary, Dr Stergomena Tax indicated that the programme has identified trade facilitation activities that are essential in facilitating easy movement of goods, while reducing the cost of doing business in the region.
The programme will among others address the impediments to movement of goods across the region.