Theme: “Empowering and creating a conducive environment for an inclusive and sustainable trade through a meaningful youth participation”
The Government of National Unity is fully committed to rapid, inclusive economic growth and job creation. As the Department of Trade, Industry & Competition our key focus is on stimulating manufacturing growth in order to build an export-oriented economy.
The role of sustainable trade in this regard is critical as it involves promoting economic development, social welfare, and environmental stewardship through international trade. Its goal is to minimise the adverse negative effects of trade, such as pollution, resource depletion, and inequality, while enhancing positive effects, such as income, employment, and education. Sustainable trade is not only about the products, but also the processes and policies that govern them according to the World Economic Forum.
The department endeavours to contribute to sustainable trade through export promotion initiatives that foster inclusive economic growth; support youth entrepreneurship; contribute to retaining and creating jobs whilst addressing the environmental and social challenges.
The department’s approach to sustainable trade thus focuses on providing youth entrepreneurs with the tools and platforms necessary to enter international markets. Through supporting youth participation in these platforms that connect them with international buyers, the Branch aims to promote balanced trade. This ensures that youth-led businesses can compete fairly and sustainably on a global scale, contributing to equitable trade.
A key strategic initiative in support of youth is through market access and trade facilitation of youth-led businesses. The department supports participation in international trade missions and fairs that focus on sustainable products, giving export-ready youth entrepreneurs a platform to showcase their innovative products to a global audience. An example of such an event is Biofach, a trade show in Germany that offers a platform to showcase organic products, discuss industry trends, and promote sustainable agriculture.
In the area of exporter development the department has also introduced specialized training programmes that are specifically designed to meet the needs of young entrepreneurs to scale up their export readiness. These programmes cover critical areas such as market research, market entry strategies, export regulations, and the use of digital tools to enhance trade. We are committed to equipping our youth with the skills and knowledge they need to compete and succeed globally.
The training is complemented by mentorship and coaching from those who have walked this path before to help entrepreneurs navigate cultural and regulatory challenges and maximise opportunities in international markets.
Through the Export Help Desk the branch also facilitates access to information and resources to equip SMMEs with the market intelligence, trade data, and resources they need to make informed decisions about entering and thriving in global markets.
South Africa has several trade agreements and trade arrangements in place that offer significant opportunities for South African businesses. Initiatives such as the African Continental Free Trade Area (AfCFTA), the African Growth and Opportunity Act (AGOA), and our partnerships within BRICS are gateways to new markets. On this note, it is important to reflect on the fact that the median age on the African continent is 19 years. The future of Africa’s export-led growth and inter-continental trade, is intrinsically linked to Africa’s youth.
In that regard the department, through outreach programmes, supports our youth-owned and SMME businesses to take full advantage of these opportunities. These agreements provide a pathway for our young entrepreneurs to access new markets, increase their competitiveness, and scale their operations on an international level.
In today’s world, digital tools and e-commerce are essential for opening up global markets. As such the department is also scaling up support initiatives that encourage digital literacy and the adoption of technology in business operations. This will enable our youth to compete effectively in the global digital economy and take full advantage of the opportunities it offers.
Furthermore, digital platforms are also leveraged to connect seasoned and youth entrepreneurs with international buyers who are interested in eco-friendly and environmentally responsible goods/services.
As a parting comment, many may not be interested in trade policy, but trade policy is increasingly taking an interest in you.
Thank you very much for the opportunity to speak to you at this capacity building workshop. The DTIC remains committed to supporting young entrepreneurs towards our objective of building an export-oriented economy.
Share this:
