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Davies maps route for free trade area

Trade and Industry Minister Rob Davies

Trade and Industry Minister Rob Davies

Cape Town – The first phase of setting up a free trade area across 26 countries in Africa is expected to come into effect in three years, Trade and Industry Minister Rob Davies said on Monday.

Briefing the media in Parliament, following Sunday’s meeting in Sandton to set up a free trade area between the Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (Comesa) and the East African Community (EAC), Davies said member countries had agreed to carry out negotiations in two phases – with the first to be concluded within 36 months. [Read more…]

DTI secures R28bn in investments for SA

Cape Town – The Department of Trade and Industry has helped to conclude a total of R28 billion in investments in the South African economy and aims to help facilitate R115 billion in investments in the next few years, the Minister of Trade and Industry Rob Davies said today.

The R115 billion target falls under Davies’s performance agreement that he signed last year with President Jacob Zuma.

Briefing media in Parliament following his Budget Vote speech this morning, Davies said of the R28 billion which has already been committed, R13 billion was in the automotive sector, with much of the remainder in business-process services. [Read more…]