The document discusses South Africa's Trade Policy and Strategy Framework. It notes structural challenges in the economy like poverty, inequality and unemployment. The framework aims to promote industrialization and export diversification to create jobs. Tariff policy will support sectors identified in industrial strategies. International trade is dynamic so South Africa must build production capacity and export value-added goods to compete globally. The role of trade policy is to facilitate an inclusive growth path oriented toward labor-intensive industries and knowledge-based sectors.
Pakistan's current trade policies aim to enhance domestic production capabilities and export competitiveness. The Strategic Trade Policy Framework 2020-25 focuses on priority sectors like textiles and diversifying exports. It also aims to reduce manufacturing costs and expand market access through trade agreements. Pakistan is a WTO member and seeks more regional trade deals. The country actively works to manage its trade deficit by increasing exports and reducing import dependency. However, challenges remain in implementing trade policies due to issues like energy shortages and security that hurt industries.
The document summarizes India's foreign trade policies from 1947 to the present. It discusses the objectives and key highlights of different phases of foreign trade policy before 1991, which focused on import substitution and export promotion. After 1991, policies liberalized trade and promoted exports. Recent policies aim to increase India's share of global exports to 3.5% by 2019-2020 and double exports of goods and services by 2014 through various incentive schemes like MEIS, SEIS, and EPCG which allows import of capital goods at concessional duty rates with export obligations.
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Deputy Head of Programme
Trade and Economic Transformation
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Research publication summary_Structure of the Malaysian Economy - An Input - ...KRInstitute
This document discusses findings from research on the sources of Malaysia's national income across four chapters:
1) Domestic demand contributes significantly to GDP but imports are overestimated, underestimating trade's contribution.
2) Policy decisions based on single multipliers can misrepresent impacts; appropriate multipliers depend on goals. Key sectors consistently contribute high value-added.
3) Manufacturing zones contribute substantially to exports but with higher foreign content, lowering domestic value-added.
4) Small and medium enterprises are highly linked to but not integrated with large sectors; they produce with higher value-added intensity than larger sectors.
Mismatch between import liberalisation and export competitivenessM S Siddiqui
The latest statistics show significant improvement in trade and economy. Bangladesh's trade-GDP ratio reached 46.30 per cent during fiscal year 2012-13 rising from 37.8 per cent in FY '10. But such a ratio has fluctuated during the next six fiscal years until FY '19.
The Bangladesh economy's degree of openness has seen a mixed trend in the last 10 years as economic expansion outstripped rise in foreign trade. Thus the trade-GDP ratio came down to 38.89 per cent in the FY '19 from 44.51 per cent in the FY'14, Bangladesh Bureau of Statistics (BBS) data suggest.
This document provides an overview of South Africa's trade, investment, and exports promotion agencies. It describes the structure, purpose, and functions of the International Trade and Economic Development directorate, the Trade and Investment South Africa agency, and the Export Credit Insurance Corporation. It outlines their strategic goals, services offered, target markets, and the rationale for coordinating investment and trade promotion activities.
The document discusses India's trade policy reforms from 2008-2019. It provides details on various trade agreements and reforms India has undertaken, including the establishment of free trade areas with ASEAN and other countries. It also analyzes the impact of reforms on India's economy, noting improvements in areas like the trade deficit but that challenges remain like infrastructure development. The document concludes by examining the US-China trade war and its effects on India's exports.
Pakistan's current trade policies aim to enhance domestic production capabilities and export competitiveness. The Strategic Trade Policy Framework 2020-25 focuses on priority sectors like textiles and diversifying exports. It also aims to reduce manufacturing costs and expand market access through trade agreements. Pakistan is a WTO member and seeks more regional trade deals. The country actively works to manage its trade deficit by increasing exports and reducing import dependency. However, challenges remain in implementing trade policies due to issues like energy shortages and security that hurt industries.
The document summarizes India's foreign trade policies from 1947 to the present. It discusses the objectives and key highlights of different phases of foreign trade policy before 1991, which focused on import substitution and export promotion. After 1991, policies liberalized trade and promoted exports. Recent policies aim to increase India's share of global exports to 3.5% by 2019-2020 and double exports of goods and services by 2014 through various incentive schemes like MEIS, SEIS, and EPCG which allows import of capital goods at concessional duty rates with export obligations.
E15 Second Expert Group Meeting
Reinvigorating Manufacturing: New Industrial Policy and the Trade System
Isabelle Ramdoo
Deputy Head of Programme
Trade and Economic Transformation
Geneva, 4-5 December 2014
Research publication summary_Structure of the Malaysian Economy - An Input - ...KRInstitute
This document discusses findings from research on the sources of Malaysia's national income across four chapters:
1) Domestic demand contributes significantly to GDP but imports are overestimated, underestimating trade's contribution.
2) Policy decisions based on single multipliers can misrepresent impacts; appropriate multipliers depend on goals. Key sectors consistently contribute high value-added.
3) Manufacturing zones contribute substantially to exports but with higher foreign content, lowering domestic value-added.
4) Small and medium enterprises are highly linked to but not integrated with large sectors; they produce with higher value-added intensity than larger sectors.
Mismatch between import liberalisation and export competitivenessM S Siddiqui
The latest statistics show significant improvement in trade and economy. Bangladesh's trade-GDP ratio reached 46.30 per cent during fiscal year 2012-13 rising from 37.8 per cent in FY '10. But such a ratio has fluctuated during the next six fiscal years until FY '19.
The Bangladesh economy's degree of openness has seen a mixed trend in the last 10 years as economic expansion outstripped rise in foreign trade. Thus the trade-GDP ratio came down to 38.89 per cent in the FY '19 from 44.51 per cent in the FY'14, Bangladesh Bureau of Statistics (BBS) data suggest.
This document provides an overview of South Africa's trade, investment, and exports promotion agencies. It describes the structure, purpose, and functions of the International Trade and Economic Development directorate, the Trade and Investment South Africa agency, and the Export Credit Insurance Corporation. It outlines their strategic goals, services offered, target markets, and the rationale for coordinating investment and trade promotion activities.
The document discusses India's trade policy reforms from 2008-2019. It provides details on various trade agreements and reforms India has undertaken, including the establishment of free trade areas with ASEAN and other countries. It also analyzes the impact of reforms on India's economy, noting improvements in areas like the trade deficit but that challenges remain like infrastructure development. The document concludes by examining the US-China trade war and its effects on India's exports.
Foreign trade policy india & its impact on indian tradeMegha0000
The document provides an overview of India's foreign trade policy, including key objectives, schemes, and initiatives. Some of the main points covered include:
- The policy aims to double India's share of global trade by 2020 and achieve an export target of $200 billion.
- It introduces new incentive schemes like the Focus Market Scheme and Focus Product Scheme to promote exports.
- Special focus sectors include agriculture, handlooms, gems and jewelry, and electronics.
- The policy aims to encourage technological upgrades, support major exporters, and diversify markets.
The document summarizes key aspects of India's Foreign Trade Policy, which is announced every five years by the Union Commerce Ministry. The objectives of the policy include arresting the declining trend of exports, doubling India's exports of goods and services by 2014, and doubling India's share of global trade by 2020. It aims to simplify procedures, encourage exports through fiscal incentives and market access initiatives, and improve infrastructure related to exports. The 2009-2014 policy expanded product- and market-specific incentive schemes and introduced new schemes for technological upgradation and market development.
This document discusses Nigeria's participation in global value chains (GVCs) and the structural reforms needed to increase its benefits from GVCs. Nigeria's economy is heavily dependent on oil and agriculture exports with little value addition. The key challenges include a poorly diversified economic structure, mono-product commodity exports, low R&D, and weak infrastructure. To better participate in GVCs, Nigeria needs reforms like human capital development, growing the real sector, improving regulations, and expanding technology and infrastructure. These reforms can leverage GVCs to drive economic transformation through diversified growth, jobs, and revenues from areas like manufacturing, logistics, and services.
Liberlisation privatisation and globalisation - an apprraisalmadan kumar
The document summarizes India's economic reforms since 1991 known as the New Economic Policy (NEP). It describes the economic crisis prior to 1991 that necessitated reforms, including high fiscal and trade deficits. The NEP introduced liberalization, privatization, and globalization. Key reforms included reducing licensing, opening sectors to FDI, trade liberalization, and greater private sector participation. The goals were to stabilize and grow the economy. Impacts have included increased GDP growth across all sectors, higher FDI inflows, and larger foreign exchange reserves.
B416 The Evolution Of Global Economies Lecture 7 Governmental Influence on TradePearson College London
This document summarizes a lecture on governmental influence on trade. It covers:
- Rationales for governments to enhance and restrict trade such as protecting domestic industries, fighting unemployment, and maintaining spheres of influence.
- Instruments that governments use to control trade, including tariffs, quotas, subsidies and standards.
- The effects of trade policies on different groups like producers, consumers, and government revenue.
- How trade restrictions can create both winners and losers within and between countries.
- The dynamics of lobbying and political economy in shaping trade policies.
The document discusses India's foreign trade policy. It outlines the objectives of the foreign trade policy for 2009-2014, which include arresting the decline in exports and achieving annual export growth targets of 15% by 2013 and 25% by 2014. It also discusses India's export and import controls, composition of exports and imports, regional trade agreements, and various export promotion measures implemented by the Indian government like incentives, institutional support, and special economic zones.
The document discusses India's export promotion policies and incentives. It outlines the various organizational support provided, infrastructural facilities established, and incentives offered to encourage exports. The key incentives mentioned are the Export Promotion Capital Goods (EPCG) Scheme, duty drawbacks, duty exemptions, and tax incentives. The document also discusses India's Foreign Trade Policies from 2002-2007, 2004-2009, and 2009-2014 and their objectives of promoting exports and doubling India's share of global trade.
The document summarizes India's Foreign Trade Policy for 2009-2014. It discusses the objectives of promoting exports and generating employment. Key aspects covered are:
- Strategies to simplify procedures, reduce costs and develop India as a manufacturing and trading hub.
- Promotional measures like Market Development Assistance, Market Access Initiative, and focus product schemes.
- Institutional setup including various government bodies and public sector undertakings involved in foreign trade.
- Announcements made in the 2009 policy like expansion of focus markets and products, higher export targets and incentives for sectors like gems, marine products, pharmaceuticals etc.
Kenya has evolved its trade policies over time from import substitution in the 1960s-1980s to trade liberalization under structural adjustment policies in the 1980s to export oriented policies in the 1990s. Vision 2030 now aims to transform Kenya into a globally competitive economy through a national trade policy. The trade policy making process involves identifying problems, benchmarking against other countries, and outlining goals, objectives, strategies and projects with input from stakeholders to support informal trade, retail, distribution, international trade, e-commerce and services. The Office of the Deputy Prime Minister and Ministry of Trade leads this process working with other ministries.
Liberalisation , privataisation and globalisationAnjana P.V.Nair
The document discusses the rationale for India's economic reforms in 1991 that introduced Liberalization, Privatization, and Globalization (LPG model). It provides background on the economic crisis India was facing in 1991 with high inflation, large fiscal deficit, and foreign exchange crisis. This led India to take loans from IMF and World Bank who mandated reforms like liberalizing and opening the economy. The 1991 New Economic Policy introduced reforms across industries, finance, trade, and more to boost growth. Key aspects of the reforms included liberalizing licenses, privatizing public sector units, and integrating India more into the global economy.
The foreign trade of India is guided by the Export Import policy of govt. of India.
Regulated by the foreign trade development and regulatory Act 1992.
Exim policy contain various policy decission with respect to import and export from the country.
It is prepared and announced by the central government.
Digital artifact [Final Assignment for Trading for Development in the Age of ...Ekene Okwunma
A proposed solution which can convey how GVCs have changed and are changing the international trade and what policies Nigerian government support to broaden participation in GVCs.
Liberalization is a very broad term that usually refers to fewer government regulations and restrictions in the economy.
Privatization means transfer of ownership and/or management of an enterprise from the public sector to the private sector .It also means the withdrawal of the state from an industry or sector partially or fully.
Globalization implies integration of the economy of the country with the rest of the world economy and opening up of the economy for foreign direct investment by liberalizing the rules and regulations and by creating favorable socio-economic and political climate for global business.
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The document provides an overview of the African Continental Free Trade Area (AfCFTA) which aims to boost intra-African trade. It notes that intra-African trade is currently low at 16-18% compared to other regions. The key features of the AfCFTA include progressive elimination of tariffs, rules to reduce non-tariff barriers and dispute settlement procedures. The benefits would be increased intra-African trade, industrial development, and investment. Many countries have signed and ratified the agreement but there is still work to be done on tariff offers and rules of origin for certain goods before it can be fully operationalized. Challenges include managing the impacts of liberalization and preventing transhipment.
The Brussels Development Briefing n.47 on the subject of “Regional Trade in Africa: Drivers, Trends and Opportunities” took place on 3rd February 2017 in Brussels at the ACP Secretariat (Avenue Georges Henri 451, 1200 Brussels) from 09:00 to 13:00. This Briefing was organised by the ACP-EU Technical Centre for Agricultural and Rural Cooperation (CTA), in collaboration with IFPRI, the European Commission / DEVCO, the ACP Secretariat, and CONCORD .
(40)industrial policies in a changing world ppt hari master pieceHariMasterpiece
The document discusses industrial policies for low-income countries. It examines case studies of specific policies in Bangladesh, Ethiopia, and Mozambique that targeted the pharmaceutical, cut flowers, and aluminum industries. It notes the domestic challenges low-income countries face in implementing industrial policies due to factors like market failures, governance issues, and lack of infrastructure. However, it also discusses how with the right policies around skills transfer, subsidies, and public-private partnerships, industrial policies can succeed in diversifying economies and developing new industries. The document concludes that in a changing global trade environment, low-income countries will need to shift policies to focus more on building market capabilities and linking firms to global value chains.
Malawi National Industry Policy: Situation analysis: issues and evidence pape...IFPRIMaSSP
Industrial policy has a mixed track record at best, and governments have made costly mistakes. But industrial policy does not always fail. Indeed, government activity in markets is often the critical difference between sectors' growth and competitiveness. In this era of heightened activism as governments seek to restore economic growth, what matters is understanding what approaches are likely to work best, when and where. The worst outcome for governments is failing to do their homework and spending scarce public resources on ineffectual forays into the market. The latest economic literature on industrial policy is based on institutional and evolutionary economics. The former calls for industrial policy to be about the process of setting de facto policy; while the latter calls for it to be about the process of learning by the productive economy. Our assessment is that it should be about policy. Therefore we recommend to the Government of Malawi that the Industrial Policy to be primarily about: [1] getting the process for policy making and programming right, based on identifying and addressing binding constraints through coordinated policies and programs; [2] getting the process for productive economy learning right, based on supporting economic spill-overs and learning activities, networks and incentives; and [3] calling for policy and budgeting decisions (which set de facto policy), that are needed to address current binding constraints to industrialization, as identified in the National Export Strategy, the Diagnostic Trade Integrated Study and the background research for this Issues Paper on Industrial Policy.
The document discusses perspectives on developing an industrial policy for CARICOM states. It notes that traditionally these states relied on agriculture but now face challenges from globalization. A regional industrial policy could help states pursue common objectives like cross-border cooperation, promoting competitive regional enterprises, and sustainable development. The policy should establish a framework for national industrial goals like productivity growth and employment while being guided by macroeconomic considerations and supporting key sectors through infrastructure development.
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The document provides an overview of India's foreign trade policy, including key objectives, schemes, and initiatives. Some of the main points covered include:
- The policy aims to double India's share of global trade by 2020 and achieve an export target of $200 billion.
- It introduces new incentive schemes like the Focus Market Scheme and Focus Product Scheme to promote exports.
- Special focus sectors include agriculture, handlooms, gems and jewelry, and electronics.
- The policy aims to encourage technological upgrades, support major exporters, and diversify markets.
The document summarizes key aspects of India's Foreign Trade Policy, which is announced every five years by the Union Commerce Ministry. The objectives of the policy include arresting the declining trend of exports, doubling India's exports of goods and services by 2014, and doubling India's share of global trade by 2020. It aims to simplify procedures, encourage exports through fiscal incentives and market access initiatives, and improve infrastructure related to exports. The 2009-2014 policy expanded product- and market-specific incentive schemes and introduced new schemes for technological upgradation and market development.
This document discusses Nigeria's participation in global value chains (GVCs) and the structural reforms needed to increase its benefits from GVCs. Nigeria's economy is heavily dependent on oil and agriculture exports with little value addition. The key challenges include a poorly diversified economic structure, mono-product commodity exports, low R&D, and weak infrastructure. To better participate in GVCs, Nigeria needs reforms like human capital development, growing the real sector, improving regulations, and expanding technology and infrastructure. These reforms can leverage GVCs to drive economic transformation through diversified growth, jobs, and revenues from areas like manufacturing, logistics, and services.
Liberlisation privatisation and globalisation - an apprraisalmadan kumar
The document summarizes India's economic reforms since 1991 known as the New Economic Policy (NEP). It describes the economic crisis prior to 1991 that necessitated reforms, including high fiscal and trade deficits. The NEP introduced liberalization, privatization, and globalization. Key reforms included reducing licensing, opening sectors to FDI, trade liberalization, and greater private sector participation. The goals were to stabilize and grow the economy. Impacts have included increased GDP growth across all sectors, higher FDI inflows, and larger foreign exchange reserves.
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This document summarizes a lecture on governmental influence on trade. It covers:
- Rationales for governments to enhance and restrict trade such as protecting domestic industries, fighting unemployment, and maintaining spheres of influence.
- Instruments that governments use to control trade, including tariffs, quotas, subsidies and standards.
- The effects of trade policies on different groups like producers, consumers, and government revenue.
- How trade restrictions can create both winners and losers within and between countries.
- The dynamics of lobbying and political economy in shaping trade policies.
The document discusses India's foreign trade policy. It outlines the objectives of the foreign trade policy for 2009-2014, which include arresting the decline in exports and achieving annual export growth targets of 15% by 2013 and 25% by 2014. It also discusses India's export and import controls, composition of exports and imports, regional trade agreements, and various export promotion measures implemented by the Indian government like incentives, institutional support, and special economic zones.
The document discusses India's export promotion policies and incentives. It outlines the various organizational support provided, infrastructural facilities established, and incentives offered to encourage exports. The key incentives mentioned are the Export Promotion Capital Goods (EPCG) Scheme, duty drawbacks, duty exemptions, and tax incentives. The document also discusses India's Foreign Trade Policies from 2002-2007, 2004-2009, and 2009-2014 and their objectives of promoting exports and doubling India's share of global trade.
The document summarizes India's Foreign Trade Policy for 2009-2014. It discusses the objectives of promoting exports and generating employment. Key aspects covered are:
- Strategies to simplify procedures, reduce costs and develop India as a manufacturing and trading hub.
- Promotional measures like Market Development Assistance, Market Access Initiative, and focus product schemes.
- Institutional setup including various government bodies and public sector undertakings involved in foreign trade.
- Announcements made in the 2009 policy like expansion of focus markets and products, higher export targets and incentives for sectors like gems, marine products, pharmaceuticals etc.
Kenya has evolved its trade policies over time from import substitution in the 1960s-1980s to trade liberalization under structural adjustment policies in the 1980s to export oriented policies in the 1990s. Vision 2030 now aims to transform Kenya into a globally competitive economy through a national trade policy. The trade policy making process involves identifying problems, benchmarking against other countries, and outlining goals, objectives, strategies and projects with input from stakeholders to support informal trade, retail, distribution, international trade, e-commerce and services. The Office of the Deputy Prime Minister and Ministry of Trade leads this process working with other ministries.
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The document discusses the rationale for India's economic reforms in 1991 that introduced Liberalization, Privatization, and Globalization (LPG model). It provides background on the economic crisis India was facing in 1991 with high inflation, large fiscal deficit, and foreign exchange crisis. This led India to take loans from IMF and World Bank who mandated reforms like liberalizing and opening the economy. The 1991 New Economic Policy introduced reforms across industries, finance, trade, and more to boost growth. Key aspects of the reforms included liberalizing licenses, privatizing public sector units, and integrating India more into the global economy.
The foreign trade of India is guided by the Export Import policy of govt. of India.
Regulated by the foreign trade development and regulatory Act 1992.
Exim policy contain various policy decission with respect to import and export from the country.
It is prepared and announced by the central government.
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Liberalization is a very broad term that usually refers to fewer government regulations and restrictions in the economy.
Privatization means transfer of ownership and/or management of an enterprise from the public sector to the private sector .It also means the withdrawal of the state from an industry or sector partially or fully.
Globalization implies integration of the economy of the country with the rest of the world economy and opening up of the economy for foreign direct investment by liberalizing the rules and regulations and by creating favorable socio-economic and political climate for global business.
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The document provides an overview of the African Continental Free Trade Area (AfCFTA) which aims to boost intra-African trade. It notes that intra-African trade is currently low at 16-18% compared to other regions. The key features of the AfCFTA include progressive elimination of tariffs, rules to reduce non-tariff barriers and dispute settlement procedures. The benefits would be increased intra-African trade, industrial development, and investment. Many countries have signed and ratified the agreement but there is still work to be done on tariff offers and rules of origin for certain goods before it can be fully operationalized. Challenges include managing the impacts of liberalization and preventing transhipment.
The Brussels Development Briefing n.47 on the subject of “Regional Trade in Africa: Drivers, Trends and Opportunities” took place on 3rd February 2017 in Brussels at the ACP Secretariat (Avenue Georges Henri 451, 1200 Brussels) from 09:00 to 13:00. This Briefing was organised by the ACP-EU Technical Centre for Agricultural and Rural Cooperation (CTA), in collaboration with IFPRI, the European Commission / DEVCO, the ACP Secretariat, and CONCORD .
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Industrial policy has a mixed track record at best, and governments have made costly mistakes. But industrial policy does not always fail. Indeed, government activity in markets is often the critical difference between sectors' growth and competitiveness. In this era of heightened activism as governments seek to restore economic growth, what matters is understanding what approaches are likely to work best, when and where. The worst outcome for governments is failing to do their homework and spending scarce public resources on ineffectual forays into the market. The latest economic literature on industrial policy is based on institutional and evolutionary economics. The former calls for industrial policy to be about the process of setting de facto policy; while the latter calls for it to be about the process of learning by the productive economy. Our assessment is that it should be about policy. Therefore we recommend to the Government of Malawi that the Industrial Policy to be primarily about: [1] getting the process for policy making and programming right, based on identifying and addressing binding constraints through coordinated policies and programs; [2] getting the process for productive economy learning right, based on supporting economic spill-overs and learning activities, networks and incentives; and [3] calling for policy and budgeting decisions (which set de facto policy), that are needed to address current binding constraints to industrialization, as identified in the National Export Strategy, the Diagnostic Trade Integrated Study and the background research for this Issues Paper on Industrial Policy.
The document discusses perspectives on developing an industrial policy for CARICOM states. It notes that traditionally these states relied on agriculture but now face challenges from globalization. A regional industrial policy could help states pursue common objectives like cross-border cooperation, promoting competitive regional enterprises, and sustainable development. The policy should establish a framework for national industrial goals like productivity growth and employment while being guided by macroeconomic considerations and supporting key sectors through infrastructure development.
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Trade Policy and Strategy Framework.ppt
1. Trade Policy and Strategy Framework
International Trade and Economic
Development
Presentation to the Portfolio Committee on
International Relations and Cooperation
02 September 2009
Dr. Mzukisi Qobo
2. 2
Introduction
• Trade Policy and Strategy Framework
emerges in the context of broad national
development strategy.
• Need to address key structural challenges in
the domestic economy.
• Dynamic changes in the regional and global
economic context.
3. 3
Cont…Introduction
• Structural challenges: widespread poverty; severe
inequalities; high levels of unemployment; and
stunted growth.
• Production and employment patterns - capital
intensive and skills-bias.
• Our export profile - highly resource-intensive and
commodity-based.
• The previous growth path placed emphasis on
capital goods in its industrial policy.
4. 4
Cont…Introduction
• The TPSF complements the industrial policy
which is a central component of the ASGI-SA.
• The objective of SA’s development strategy: to
promote & accelerated economic growth along a
path that generates decent jobs.
• A supportive trade policy and an appropriate tariff
reform programme contributes to industrial
development and upgrading, employment growth
& export of sophisticated value-added products.
5. 5
Linkages between trade and
industrial policy
• Tariff policy to be decided primarily on a sector-by-sector
basis and dictated by the needs of sector strategies.
• We have adopted a strategic trade policy: more calibrated
and sequenced and assumes a developmental approach to
tariff reform.
• Tariff policy supports industrial policy and delineates our
terms of engagement in international trade negotiations.
• Carving a policy space in global economic relations to
enable SA to pursue its developmental objectives.
6. 6
Changes in Global Trade
• The nature of global competition has changed.
• Comparative advantage no longer determine
success in international trade. A combination of
factors, incl. processes of “self-discovery”,
purposeful intervention and building of
appropriate production capacities are at play.
• Fastest growing exports in world trade are non-
resource based manufacturers, with medium and
high-tech predominating.
7. 7
Changes in Global Trade
• Structure of trade increasingly assumes intra-
industry rather than inter-industry character.
• As a group developing countries’ exports growing
faster than the world average. The Asian countries
have by and large predominated.
• Emergence of global supply-chains for
manufacturing & services as a result of production
unbundling and growing trade in intermediate
products.
8. 8
Changes in Global Trade
• With declining emphasis on comparative advantage,
developing production capacities, investment in human
capital, research and innovation & technology mastery
become important.
• Managing this requires strategic collaboration between
government and business.
• Strategic trade policies thus aim at shifting the structure of
products & exports away from commodity dependence
towards sophistic and value-added production (content of
exports matter).
9. 9
SA Trade Reform Experience
• Trade liberalisation experience since the 1990s occasioned
significant trade growth, with both imports & exports
growing as a % of GDP. However, the pattern of trade has
not changed significantly:
• Manufacturing exports in capital and high skills intensive
sectors and products have expanded through trade; labour
intensive production has contracted in the face of import
penetration especially leather, footwear & textiles.
• Openness has led to contraction of certain labour-intensive
sectors, with dire employment consequences.
10. 10
SA Trade Reform Experience
• Liberalisation episode in the 1990s deepened comparative
advantage in capital intensive production based on the
extraction of mineral wealth.
• Accumulation of capital assets & technical knowledge in
these sectors have made them more competitive than
labour-intensive sectors (previous industrial policies).
• Essentially SA faces competitive pressure both from
developed and developing countries (largely Asia).
• Liberalisation in SA reinforced a capital & high skill-
intensive growth path exacerbating bias against low-skilled
labour-intensive production.
11. 11
SA Trade Reform Experience
• Further tariff liberalisation is likely to intensify this trend.
• SA is to a considerable extent outwardly oriented: the ratio
of trade in goods & services to GDP has risen from below
40 % in 1993 to over 60% in 2006.
• SA exports constitute around 0.5% of world merchandise
exports: lagging behind China, Brazil and India. Ranked
24th among developing countries; and 47th overall in terms
of presence in exports of dynamic products.
• Commodity products continue to dominate SA’s exports:
the top 25 export categories are dominated by mineral
products. Precious metals; base metals; and other mineral
products are dominant.
12. 12
SA Trade Reform Experience
• SA has undertaken significant tariff reforms since 1994.
• During Uruguay Round, SA undertook tariff commitments
as a developed country rather than a developing country.
• Its simple average of the final bound rate is 20.9%, with
tariffs on agric products bound at 43.5%, and on non-agric
at ceiling rates aver 18.1%.
• Simple averaged MFN applied rate declined from 15% in
1997 to 8.2 % in 2006. Aver tariff for inputs is 5.4%.
• Considerable simplification: 1990, tariff schedule – 13609
lines; by 2006 – 6420. SA has 54% duty free tariff lines.
• SA TDCA and SADC Protocol on Trade set further
parameters. SA trade with EU accounts for 40% of total.
13. 13
Future Directions for Tariff Policy
• We have chosen a development path aimed at achieving
accelerated and inclusive growth to address poverty &
inequality. Facilitating industrial upgrading and
diversification of industrial base will create economy-wide
positive spill-over.
• In this context, the role of tariff policy will be to support a
growth path oriented towards labour-intensive
industrialisation, and a long-term trajectory towards a
knowledge-base economy.
• Trade policy will be informed by sector strategies, with
focus on reducing input costs for labour-intensive & value
adding manufacturing sectors.
14. 14
Future Directions of Trade Policy
• Unlike in the past where much focus was on
upstream capital intensive projects, the current
focus on is on down-stream, more labour
intensive, and employment creating activities.
• Major initiatives in tariff policy since 2007 has
been to lower tariffs on upstream, capital intensive
industries as these produce inputs that are cost-
items for downstream industries.
15. 15
Future Directions of Trade Policy
• Investigations are continuing. If evidence leads to
the conclusion that it is necessary to reduce or
remove duties where clear benefits would be
gained by downstream sectors, this will be done.
• Where processes of “self-discovery” recommend
tariff increases that industry will be supported.
• Industrial policy sets parameters for tariff policy.
16. 16
Agricultural Trade Strategy
• Over the past 15 years agriculture has undergone key
reforms, paving a way for entry into global value chains.
• Trade in the sector is highly distorted as a result of
subsidies in OECD countries.
• There are strong backward-and-forward linkages to other
sectors of the economy: purchase of fertilisers, chemicals
and implements; as well as supply of raw materials to
industry in the food value chain.
• About 70% of agricultural output is used as intermediates.
• The sector accounts for 8% of formal employment.
17. 17
Agriculture Trade Strategy
• Tariffs are a tool to promote sectoral growth, employment
creation, investment attraction, productivity growth, food
security & rural development.
• Tariff determination will be made on a case-by-case basis,
paying particular attention to global distortions in
agricultural trade.
• Striking a balance between the profitability of farmers,
including addressing supply-side constraints and
competition; consumer prices, especially given the price-
raising effects of tariffs for the vulnerable.
18. 18
Agricultural Trade Strategy
• The sector also carries significance for food
security as well as to create basis for economic
activity in rural communities.
• Jobs created per unit of investment is higher than
any other sector, evidence of the sector’s high
potential for employment and poverty alleviation.
• Share of agricultural exports in total exports – 7%;
share of processed agricultural products within the
country’s total exports has increased to more than
50%.
19. 19
The Role of International Trade and
Administration Commission (ITAC)
• Mandate defined by the International Admin Act 2002.
• Has developed a sophisticated and rigorous methodology
that includes firm level investigations.
• Sets tariffs on the basis of cost-and-benefit analysis, guided
by evidence and responding to the imperatives of industrial
policy:
– Competitive position of the product; whether the product or
substitute is manufactured in SACU; effective rate of protection;
value chain implications; and macro-economic & social impact.
• Deals with applications for tariff changes and trade
remedies.
20. 20
Strategic Integration into the Global
Economy
• There are other areas that are prioritised in
SA’s trade policy and Strategy Framework:
– African Agenda: mainly focused on building
trade and investment relations across the
continent; building effective regional markets;
enhancing production capacities; sustaining
regional integration; and cross-border
infrastructure development through spatial
development initiatives (SDIs).
21. 21
Strategic Integration
– Regional & Bilateral Relations: Intra-Africa trade
remains important to SA. This remains low (10 %) and
needs to be enhanced. More positively, this is worth 21
percent of total exports for African countries although
the intra-Africa trade ratio is 10 percent. SA continues
to pursue regional arrangements both in Southern
Africa & beyond: SADC Trade Protocol & SACU;
SACU-EFTA FTA; SACU-MECOSUR PTA.
– (negotiating outcomes to deal with non-tariff barriers as
well; as well as to forge sectoral agreements that could
benefit SA).
22. 22
Strategic Integration
• SACU and SADC
– SA remains committed to pursuing regional integration
in the context of SACU & SADC.
– The new SACU Agreement that entered into force in
2004 represents important departures: establish a
democratic, consensus-based decision making
mechanism; foresees new supranational institutions
including a Tribunal to settle disputes, a SACU Tariff
Board to determine changes to the CET, and a
Secretariat; envisions deeper integration through
development of common policies; and establish a
revenue-sharing formula.
23. 23
Strategic Integration
• SACU & SADC
– Future value of SACU will lie in its ability to be used
as a vehicle for advance & deepening developmental
integration in the region, and as an anchor for SADC
regional project.
– This requires SACU members to forge common trade
& industrial policies, where production value chains in
agriculture and industry are developed.
– SACU can be an important nucleus for deeper SADC
integration and a crucial platform to facilitate beneficial
global integration.
24. 24
Strategic Integration
• SADC: aims to combine market integration through trade protocol
with policy coordination & sectoral cooper in a broad development
project.
• Free trade negotiations concluded in 2000, and implementation of
tariff reduction began that time. By 2008, 85% of goods – duty free; by
2012 this will be 99%.
• Challenges remain: including with Rules of Origin, development of
region-wide standard-setting capacity, and work on trade facilitation.
• Promising signs in T&C and sugar sectors. But SADC production
structures is still undeveloped.
• Consolidating FTA and addressing real economy capacity constraints
is a priority.
• Need to align this to ongoing tripartite FTA: COMESA, EAC and
SADC to build the region’s competitive advantage.
25. 25
Strategic Integration
• Economic Partnership Agreements: SA’s objective in
entering negotiations – to preserve regional unity and
advance regional integration on developmental basis.
– SA has its own TDCA with the EU.
– The Interim EPA is far from advancing regional integration and
development but accentuates dependencies, and forecloses
diversification of trade relations in future (MFN).
– Under EPA, SADC has 5 separate trade relation and regimes with
the EU and all are different. This complicates internal trade
relations, makes it difficult to ensure policy harmonisation:
services, investment, competition and procurement.
– EPA also threaten to weaken SACU.
26. 26
Opportunities for South-South
• Need for enhanced trade & investment linkages among
Southern economies.
• Developing countries share of international trade continue
to grow, acc for around 37 % of world trade in 2007; aver
growth rates of 18% in goods, and 13 % in services –
much higher than those recorded in OECD countries –
13% and 8% respectively.
• Center of gravity is shifting towards emerging powers of
the South.
• South-South trade increase at an annual rate of 11 percent;
with services trade on the rise.
27. 27
Opportunities for South-South
• These are also high growth economies with
consumer needs diversifying.
• Offer possibilities for export diversification for
other developing countries.
• Possibilities for cooperation and sharing of
experiences, including attraction of FDI and
technology sharing.
• Constructing PTAs on the basis of our relative
strengths and what we can benefit.
28. 28
Relations with countries of the North
• SA’s relations with key countries of the North
remains vital. These are major sources of
investment & technology.
• TDCA offers the basic framework for trade &
investment expansion.
• In 2008 SACU-European Free Trade Association
entered into force – offering SACU duty & quote
free access on industrial products.
• With the US, there is AGOA and the SACU-US
Trade, Investment, Development & Cooperation
Agreement (TIDCA).
29. 29
World Trade Organisation & Doha
• SA remain a strong proponent of multilateralism
as an appropriate institutional response to manage
globalisation.
• There remain imbalances in the multilateral trade
rules, prejudicing developing countries’ interests.
• Global reform should ensure greater transparency
& inclusiveness, with the interests of developing
countries guaranteed.
• SA’s support for the Round was premised on
overcoming the imbalances and securing a
developmental outcome for developing countries.
30. 30
World Trade Organisation & Doha
• SA will not take deeper cuts than it would benefit from the
global trade negotiation. Developed countries’ higher
ambition on industrial goods negotiations is not properly
matched in Agriculture. This erodes the Round’s
development content.
• SA’s negotiating objectives aim to:
– Enhance market access for products of export interests to
developing countries;
– Renegotiate rules that perpetuate imbalances in international trade
regime;
– Ensure appropriate policy space for developing countries to pursue
development objectives through meaningful implementation of the
principle of S&DT.
31. 31
An Agenda for Future Trade Policy
Work
• SA trade policy also looks at starting a work-programme
on Services and New Generation Issues:
– Services
– Other new generation issues: investment, competition, intellectual
property, government procurement, labour and the environment.
– Other behind-the-border protection measures that impede
developing countries’ access to markets of advanced economies.
SA will develop a proactive stance on these areas, and guided by its
development objectives and the need to preserve policy space to
regulate in the public interest; balance economic efficiency with
socio-economic equity; and enhance economic competitiveness.
32. 32
Accompanying Policies
• Trade reform creates winners and losers. Thus a crucial
area for the future will be in the area of “accompanying
policies”.
• Adjustment costs of previous liberalisation was
disproportionately borne by the poorest sectors of the
population who witnessed the rising tide of unemployment.
• Accompanying policies will need to pay attention to
appropriate measures to cushion vulnerable sectors.
• Safety nets, retraining and a range of support will thus be
explored.
33. 33
Conclusion
• Trade Policy complements industrial policy and seeks to contribute to
growth, industrial upgrading, export diversification, and employment
creation.
• Apart from using tariff policy as an industrial policy support measure,
there are other new frontiers of trade policy that we are devoting
resources to, including services and other new generation issues.
• Defining terms of integration in the global economy on beneficial basis
is an important objective of trade policy. This includes the nature of
relations at the regional, bilateral, and multilateral levels.
• In the ultimate, trade policy has to make a meaningful and positive
contribution towards achieving desired developmental outcomes.