The Department of Trade, Industry and Compeition (the dtic), represented by Minister Tau and Deputy Minister Godlimpi delivered the departments’ 2025/26 budget vote in the National Council of Provinces.
The Minister emphasised the work being done by the department to ensure South Africa maintains its competitive position in the global trading arena.
“We have been tirelessly at work discussing with our counterparts in the United States. Having submitted our Framework Deal in May, we have signed a condition precedent document with the office of the US Trade Representative. This is a precursor to finalisation of the negotiations” he said.
Minister Tau says this work is proceeding while South Africa continues to explore and strengthen other global markets and transform South Africa’s role in global trade to ensure it moves beyond being a mere exporter of goods to becoming a creator of value, a regional connector, and a catalyst for shared prosperity, with Africa at the centre of global trade.
“Our active engagements with Asia are significantly bearing fruit. We have advanced conversations with China on Green Industrialisation and deepening our industrial supply chains. We have also committed to working with them to beneficiate our critical minerals here at source. This will unlock value in our Special Economic Zones (SEZs) and Industrial Parks as we agree that these dynamic strategic nodes in our country are best placed to drive our reindustrialisation agenda”, he added.
The Deputy Minister elaborated on the plans of the department and it’s entities in the current financial year. For 2025/26 a total of R12 billion has been approved and committed by the IDC toward transformation-focused funding. Of this, R7.4 billion is earmarked for black industrialists, R3.5 billion for women-owned businesses, and R1.5 billion for youth-led enterprises. These efforts reflect a deliberate strategy to transform the ownership and control of productive assets in our economy.” DM Godlimpi said.
On the imperative of structural economic transformation, Minister Tau highlighted a notable progress in the Enterprise Supplier development (ESD) and the Equity Equivalent Programmes (EEIP) linked to South Africa’s Broad Based Economic Empowerment laws, which he insists should be emulated by both domestic and international partners.
The Minister of Trade, Industry and Competition, Mr Parks Tau, delivering the department’s Budget Vote 2025 – 2026 at the National Council of Provinces in Cape Town.
Media Enquiries:
Kaamil Alli – Ministerial Spokesperson
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E-mail: KAlli@thedtic.gov.za
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Bongani Lukhele – Director: Media Relations
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Issued by: The Department of Trade, Industry and Competition (the dtic)
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