Patel: Several govt initiatives under way to focus more on local trade

Trade, Industry and Competition Minister Ebrahim Patel said that government was doing its best to build and stimulate growth for local companies amid the COVID-19 pandemic, which had brought the global markets to their knees.

FILE: Trade and Industry Minister Ebrahim Patel addresses a media briefing in Pretoria on level 3 lockdown regulations on 29 May 2020. Picture: @GCISMedia/Twitter

JOHANNESBURG - Trade, Industry and Competition Minister Ebrahim Patel said that government was doing its best to build and stimulate growth for local companies amid the COVID-19 pandemic, which had brought the global markets to their knees.

The global outbreak has resulted in many companies, big and small, closing their doors due to the crippling economic impact.

Greyhound, Musica and Domino's Pizza are just a few companies that have had to call it a day in the face of crippling financial constraints.

With massive constraints on travelling as well, the aviation sector is also close to collapse and travel companies are battling too.

Patel said that several initiatives were under way to focus more on local trade.

"We sat down with the business community and identified more than 40 major products that with retailers and others we're going to significantly localise from South African-based firms and government itself is revamping our own procurement to try to buy more locally."

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