Sony Digital Rapids Pixel Power calrec Sony

Global trade tensions: South Africa concerned about economic impact

10/06/2019

Trade and Industry (dti) Minister Ebrahim Patel has expressed concern at growing trade tensions in the global economy.

Heightened uncertainty from growing trade tensions and measures is also placing a drag on an already fragile global economy. This follows long-standing concerns by many developing countries about the imbalances created by the outcome of the Uruguay Round, said Patel on Monday.

The Minister's comments follows the G20 Joint Trade and Digital Economy Ministers and the G20 Trade Ministers Meeting he attended over the weekend in Tsukuba, Japan.

South Africa joins call to end global trade tensionsThe G20 Trade Ministers meeting discussed current international developments in trade; the promotion of trade and investment that contribute to sustainable and inclusive growth; the reform of the World Trade Organisation (WTO); and sound business environment that promotes market-driven investment decisions.

Related: Trade war intensifies: China to publish its own US ban list

Patel said the meetings took place at a time that the multilateral trading system is facing unprecedented challenges, adding that there is greater need for development-orientated trade agreements.

He stated that the G20 countries cannot respond to the challenges by dismantling the rules-based system and replace it with unilateralism.

The use of the rules-based multilateral system, coupled with necessary reform of the WTO should ensure that the promise of increased trade does indeed and in reality benefit all countries and people. We need a greater commitment to development-oriented trade agreements, he added.

How global trade tensions will impact South AfricaThere are concerns that arise in part from the backlash against globalisation, and rising inequality, poverty and declining incomes for many of our citizens, with many people feeling left behind.

Appellate Body concernsHe raised South Africa's concerns that the WTO is facing an existential crisis as the Appellate Body is likely to be dysfunctional if the current impasse is not resolved.

We must also resolve the impasse on the WTO Appellate Body. If we fail, a cornerstone of the rules-based trading system will be incapacitated by December this year just six months from now. This will mark a fundamental change in the functioning of the trading system, make existing rules unenforceable multilaterally and render discussion about new rules and a WTO reform-agenda increasingly meaningless, Patel said.

The Appellate Body is a standing body of seven persons that hears appeals from reports issued by panels in disputes brought by WTO Members.

The Body can uphold, modify or reverse the legal findings and conclusions of a panel, among others.

Digital economyMinister Patel and Communications Minister Stella Ndabeni-Abrahams jointly led a South African delegation to a joint meeting of the Trade and Digital Economy Ministers that discussed the interface between trade and the digital economy.

Patel also added that South Africa proposed consideration of a full, revitalised and inclusive multilateral discussion on the digital economy.

He said reform must affirm the importance of the principle and practice of Special and Differential Treatment for developing countries.

Tags: asyqzszhPoliticsSouth AfricaTrade and Industry
LINK: https://www.thesouthafrican.com/business-finance/global-trade-tensions...
See more stories from thesouthafrican

More from The South African

02/04/2020

Watch: Uzalo latest Episode 41 S6 Tuesday, 31 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

01/04/2020

Soapie teasers: What's happening in Uzalo in April 2020?

Thulani and Godfather clash, Nomcebo is concerned when Gabisile is overly nice to her, and Sbu has a strange request for Nonka. Friday 3 April 2020 Episode 45...

31/03/2020

Soapie teasers: What's happening in 7de Laan in April 2020?

Matrone decides to live life to the fullest. Diederik applauds Marko for how he's handling the situation with Esti. Friday 3 April 2020 Episode 4801 Mark...

31/03/2020

Watch: Uzalo latest Episode 40 S6 Monday, 30 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

31/03/2020

Watch: Uzalo latest Episode 39 S6 Friday, 27 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

28/03/2020

Watch: Uzalo latest Episode 38 S6 Thursday, 26 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

27/03/2020

Watch: Uzalo latest Episode 37 S6 Wednesday, 25 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

26/03/2020

Watch: Uzalo latest Episode 36 S6 Tuesday, 24 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

25/03/2020

Watch: Uzalo latest Episode 35 S6 Monday, 23 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

24/03/2020

Watch: Uzalo latest Episode 34 S6 Friday, 20 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

21/03/2020

Watch: Uzalo latest Episode 33 S6 Thursday, 19 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

20/03/2020

Watch: Uzalo latest Episode 32 S6 Wednesday, 18 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

19/03/2020

Watch: Uzalo latest Episode 31 S6 Tuesday, 17 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

18/03/2020

Watch: Uzalo latest Episode 30 S6 Monday, 16 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

17/03/2020

Watch: Uzalo latest Episode 29 S6 Friday, 13 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

14/03/2020

Watch: Uzalo latest Episode 28 S6 Thursday, 12 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

13/03/2020

Watch: Uzalo latest Episode 27 S6 Wednesday, 11 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

12/03/2020

Watch: Uzalo latest Episode 26 S6 Tuesday, 10 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

11/03/2020

Watch: Uzalo latest Episode 25 S6 Monday, 9 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

10/03/2020

Watch: Uzalo latest Episode 24 S6 Friday, 6 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

07/03/2020

Watch: Uzalo latest Episode 23 S6 Thursday, 5 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

06/03/2020

Watch: Uzalo latest Episode 22 S6 Wednesday, 4 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

05/03/2020

Watch: Uzalo latest Episode 21 S6 Tuesday, 3 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

04/03/2020

Watch: Uzalo latest Episode 20 S6 Monday, 3 March 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

03/03/2020

Watch: Uzalo latest Episode 19 S6 Friday, 28 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

29/02/2020

Soapie teasers: What's happening in Uzalo in March 2020?

Wednesday 4 March 2020 Episode 23 Mazaza stoops to an all-time low to secure Sibonelo, Qhabanga realises he's going to have to work harder, and Mpume fina...

28/02/2020

Watch: Uzalo latest Episode 18 S6 Thursday, 27 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

28/02/2020

Soapie teasers: What's happening in 7de Laan in March 2020?

Connie makes a big decision. Marvin is excited about the propects of an extra income. Wednesday 4 March 2020 Episode 4779 Khethiwe wants to increase her pho...

27/02/2020

Watch: Uzalo latest Episode 16 S6 Tuesday, 25 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

26/02/2020

Watch: Uzalo latest Episode 15 S6 Monday, 24 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

25/02/2020

Watch: Uzalo latest Episode 14 S6 Friday, 21 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

22/02/2020

Watch: Uzalo latest Episode 13 S6 Thursday, 20 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

21/02/2020

Watch: Uzalo latest Episode 12 S6 Wednesday, 19 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

20/02/2020

Watch: Uzalo latest Episode 11 S6 Tuesday, 18 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

19/02/2020

Watch: Uzalo latest Episode 10 S6 Monday, 17 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

18/02/2020

Watch: Uzalo latest Episode 9 S6 Friday, 14 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

15/02/2020

Watch: Uzalo latest Episode 8 S7 Thursday, 13 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

14/02/2020

Watch: Uzalo latest Episode 7 S7 Wednesday, 12 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

13/02/2020

Watch: Uzalo latest Episode 7 S6 Tuesday, 11 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

12/02/2020

Watch: Uzalo latest Episode 6 S6 Monday, 10 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

11/02/2020

Watch: Uzalo latest Episode 5 S6 Friday, 7 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

08/02/2020

Watch: Uzalo latest Episode 4 S6 Thursday, 6 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

07/02/2020

Watch: Uzalo latest Episode 3 S6 Wednesday, 5 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

06/02/2020

Watch: Uzalo latest Episode 2 S6 Tuesday, 4 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

05/02/2020

Watch: Uzalo latest Episode 262 S5 Monday, 3 February 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

04/02/2020

Watch: Uzalo latest Episode 261 S5 Friday, 31 January 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

03/02/2020

Soapie teasers: What's happening in Uzalo in February 2020?

Sibonelo learns Zekhethelo lied to him, Qhabanga is shocked by Khehla's threat, and Sbu worries he is losing Fikile. -- -- Wednesday 5 February 2020 Epi...

01/02/2020

Watch: Uzalo latest Episode 260 S5 Thursday, 30 January 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...

01/02/2020

Soapie teasers: What's happening in 7de Laan in February 2020?

Wednesday 5 February 2020 Episode 4759 -- -- Marko asks Lesedi for fashion guidance. Matrone decides to intervene. Thursday 6 February 2020 Episode 4760 ...

31/01/2020

Watch: Uzalo latest Episode 259 S5 Wednesday, 29 January 2020

The story follows the family whose wealth was built in the murky criminal underworld, as well as the more wholesome Mdletshe family who's day to day life, i...