Gauteng’s contribution to the national Gross Domestic Product (GDP) rose by 1,3% between 1995 and 2002 after the provincial economy grew by an average of 3,3% during that period, the Gauteng government said on Tuesday.
Addressing reporters in Newtown, Johannesburg, Gauteng economic affairs member of the executive committee (MEC) Jabu Moleketi said the provincial contribution to the national GDP grew from 32,6% in 1995 to 33,9% in 2002.
”Gauteng offers the largest consumer market in the country,” Moleketi said. ”It has logistical advantages in terms of access to other markets around the world.”
Moleketi made the comments when he released the provincial Trade and Industry Strategy (TIS) which is aimed at growing the Gauteng economy.
The strategy would build on the foundation of the 1997 TIS, Moleketi said.
”Compared to the 1997 TIS, the 2003 strategy has a much stronger focus on broadening participation in economic activities, and at the same time extending the benefit of economic activity to all the people of Gauteng.”
He said the first pillar of the 2003 strategy was a focus on growths and the second was a focus on socio-economic issues with the aim of solving the unemployment problems of Gauteng and the country.
Moleketi said the Gauteng executive council had identified new challenges for the province, including contributing to the New Partnership for Africa’s Development (Nepad) and also responding to changes posed by economic conditions and outlooks.
The MEC said the objectives of the 2003 TIS were to encourage domestic investment, identify sectors promoting value addition, developing medium-sized business and stepping up integration with continental and regional value chains.
Other objectives were ensuring the environmental sustainability of the strategy and enhancing black economic empowerment, Moleketi said. – Sapa