Sadc Industrialisation Strategy sees 50 percent growth in exports

THE Southern African Development Community (Sadc) Industrialisation Strategy and Roadmap forecasts exports from the region increasing by at least 50 percent of total exports by 2030 from less than 20 percent currently.

The Sadc Industrialisation Strategy and Roadmap, which was adopted by Sadc leaders in 2015, is anchored on three pillars namely industrialisation, competitiveness and regional integration.

In a statement, Sadc said it is hoped that the region would fully benefit from its vast natural resources and the strategy was developed as an inclusive long-term modernisation and economic transformation scheme that enables substantive and sustained raising living standards.

“The Sadc Industrialisation Strategy and Roadmap foresees an increase in manufactured exports to at least 50 percent of total exports in Sadc by 2030, from less than 20 percent at present, and to build market share in the global market for the export of intermediate products to East Asian levels of around 60 percent of total manufactured exports.

“It is expected to ensure that the region fully benefits from its vast natural resources,” said the bloc.

The Industrialisation Strategy and Roadmap foresees the lifting of the regional growth rate of real Gross Domestic Product (GDP) from 4 percent annually (since 2000) to a minimum of 7 percent a year.

It also seeks to double the share of manufacturing value added in GDP to 30 percent by 2030 and to 40 percent by 2050. –chroncieco.zw