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Davies: Radical economic transformation to shape many ANC discussions

Davies is currently speaking to members of the Progressive Business Forum at Nasrec.

Trade and Industry Minister Rob Davies speaks at a business breakfast meeting at Nasrec on 17 December 2017. Picture: @MYANC/Twitter

JOHANNESBURG - Trade and Industry Minister Rob Davies has used Sunday morning's business breakfast at the African National Congress (ANC)'s national conference to address issues around radical economic transformation and inclusive growth in the country.

Davies is currently speaking to members of the Progressive Business Forum at Nasrec.

He says that radical economic transformation will shape many discussions at the conference.

"It says that radical economic transformation is really about fundamental change in the structure of our economy, as well as in the patterns of ownership, participation and inclusion."

Davies adds that South Africa will need the help of its regional partners.

"We have to diversify our economy. We have to industrialise, in a word, and we have taken over the years the view that South African can't do this alone and needs to do this as part of a larger regional economy and that larger regional economy needs to be more than our immediate region of SADC."

After attending the recent the World Trade Organisation, Davies says there's also a number of challenges South Africa needs to focus on regarding the challenges of the new digital revolution.

"The were was a very intense discussion on the issue of electronic commerce and the global rules of electronic commerce and those discussions are going to continue and are going to guide us."

Davies says the whole continent should tap into the digital economy on its own terms so that it doesn’t doesn't find it's policy options constrained in the digital age.