EAST LONDON – The Eastern Cape Development Corporation(ECDC) hosted day 1 of the 2 days 5th annual Eastern Cape Export Symposium & Exhibition at the East London international convention center on the 17th of August 2023. The Export Symposium this year aims to empower the Eastern Cape trading partners with the changes in global developments such as the African Continental Free Trade Agreement (AFCTA) and BRICS. Addressing the big issues and opportunities for South African trade,
amongst the selected speakers was Eastern Cape Premier Oscar Mabuyane, the African Continental Free Trade Agreement (AfCTA) secretary general Wamkele Mene and Deputy Minister of Trade and Industry Fikile Majola.
Secretary general of AFCTA Wamkele Mene gave a summary of the opening session, “What I would say from our point of view as the African continental free trade agreement is that the African market presents a very unique opportunity for the Eastern Cape province to diversify the export base to create jobs and to invite investors to establish in the Eastern Cape to access the entire African continent.”
The African Continental Free Trade
Agreement (AfCFTA) is an ambitious trade agreement that aims to establish the world’s largest free trade area by creating a single market for goods and services, the AfCFTA seeks to deepen economic integration across Africa and promote trade and economic growth within the continent.
Eastern Cape premier Oscar Mabuyane described the progress of the province, “In this gathering we gather under the auspices of the 5th Eastern Cape Export Symposium at a time when the winds of positive change are blowing in favour of the Eastern Cape province on the economic front.
Just two days ago Stats SA released Quarter 2 Labour Force Survey results which indicate that the unemployment rate in our province has dipped to 39.7 %. This is the seventh consecutive drop in the unemployment rate in our province since 2020 when the unemployment rate was at 47.9%. This is a story of good progress, Mabuyane.
The Eastern Cape Export Symposium is an initiative by the Eastern Cape Development
Corporation (ECDC) aimed at further enhancing the province’s substantial contribution to global markets, it is a testament to the ECDC’s commitment to promoting and growing the Eastern Cape’s presence in the global trade arena.
During this session the Deputy Minister of Trade and Industry Fikile Majola delivered a message of support,”Your presence today not only highlights the significance of the Eastern Cape role is in fostering partnerships but also underlines the importance of collaboration and innovation towards sustainable growth,as we convene to discuss further economic collaboration I am reminded of the immense potential that lies between the bonds we create transcending borders,”Deputy Minister said.
The symposium provided a platform for participants to engage in fruitful discussions and explore potential trade partnerships, it facilitated networking opportunities and allowed attendees to gain insights into the latest trends and developments in global trade.
