Chairperson, hon members, today I am bringing good news. So, listen. One of the cornerstones of South Africa's international relations policy is regional and continental integration to bring about socioeconomic development. The key vehicles for this policy to be implemented are both the South African Development Community, SADC, and the African Union, AU. By being members of these institutions, we can push our African Agenda of political, economic and social development throughout the continent.
There are three important aspects of this agenda that I wish to highlight today. South Africa needs the following, namely, to promote Africa's economic growth and development; to foster economic integration at regional and sub-regional levels; and to facilitate greater levels of intra-African trade and to increase levels of intra-African investments.
Now, this is where the clich comes in: Africa is currently going through an economic boom, we cannot be left behind. Africa's combined GDP has tripled over the past 10 years. Africa is the second-fastest growing region in the world, after East Asia. Africa has reserves of raw materials that the rest of the world needs. Africa has 60% of unused agricultural land of the world. It also has a growing middle class with enormous buying power.
By 2015, Africa's trade is expected to grow from US$654 billion to US$1,6 trillion. So, it is going to triple its growth rate. In order to take advantage and be a part of this boom, we need to use our foreign policy to develop stronger economic integration and co-operation. At present, South Africa has a positive trade deficit with the rest of the continent, largely thanks to our membership of the SADC countries.
Our biggest export partners are Namibia and Botswana, although only 14% of our total exports go to Africa. However, SADC countries account for 87% of our African exports, therefore, the rest of our trade in Africa is almost nonexistent. We need to start increasing this rapidly and not allow our Brics partners to take advantage of a market which is right on our doorstep.
Our trade with Europe has also decreased, with a drop of 10,1% in exports. That is why we have a negative trade deficit. This means that we need to start looking closer to home. We cannot ignore the importance of our membership of other international institutions, which can play a large role in advancing our national interests.
South Africa is a member of major economic groups, such as Brics and the G20, which puts us on a good economic footing internationally. Although we are a minor player in Brics, Brics is fast becoming a major player on the international stage, and it is time for South Africa to start playing a bigger role.
The key to doing this is harnessing the economic opportunities which are just to the North of us. An important event for South Africa occurred just last week, when we were elected by the members of the UN General Assembly to join the 47 members of the United Nations Economic and Social Council. This was very important for South Africa as it means that our time as a major UN player does not end with the end of our term of office in the UN Security Council. This will be yet another opportunity for South Africa's voice to be heard on the international stage, and for us to further the interests of developing countries, particularly in Africa.
In our diplomatic relations, we have, however, for too long traded on our miracle transition and the esteem in which we have been held by the rest of the world as a result. We have focused our international relations mainly on peacekeeping and political diplomacy.
To truly leverage our position in the significant trade and development groupings, where we are represented, we must ensure that our diplomats and officials in the Department of International Relations and Co-operation are trained in economic diplomacy and the intricacies of international trade treaties. If we fail to do so, we will be marginalised in the very groupings that we hope would empower us. Our future and the future of our children depend on us. Thank you. [Applause.]