Chair, the overall goal of the Southern African Development Community, SADC, on regional economic integration is to facilitate trade and the financial liberalisation, competition and diversification of industrial development; to increase investment for deeper regional integration; and the eradication of poverty through the establishment of the SADC common market. The SADC Regional Indicative Strategic Development Plan, RISDP, which is currently under review under the leadership of the hon Minister Rob Davies on behalf of South Africa, has indeed outlined the indicative timelines to establish a SADC free-trade area by 2008; a SADC customs union by 2010; a SADC common market by 2015; and a SADC monetary union by 2016.
I think all this, and the relevant timelines, were based on how we should work together to accelerate industrialisation and our capacity to manufacture goods and services in our respective countries. Equally important would be adhering to timelines that also take into consideration our state of readiness to be able to sell goods and services to each other. So, at the end of the day, South Africa should not be seen as just being happy with ourselves, our industrial output and manufacturing capability, and not working together to make sure that other countries also develop such mechanisms.
It is one thing to want to adhere to timeframes. However, it must also be noted that, as we review this RISDP in the same process, we ought to look at accelerating the free trade area of SADC. This has to be undertaken with the customs union and also the Comesa-EAC-SADC Tripartite FTA. These matters have also largely been debated and looked at by the latest SADC summit, which took place in Mozambique. As political leaders, we should also just remember that all these plans happened and leaders made commitments prior to the global economic and financial meltdown. So, we have a responsibility to review these plans, but also, above all, to remember that the timeframes and timelines are perfect. However, we should consider issues around the beneficiation of the natural resources that we have so that we would be able to accelerate our free trade through making sure that all SADC member states have things to sell in their neighbourhoods. It must not be just a one-way traffic system.
In addition, to implement the SADC's customs union, we need to look at what lessons we are learning from the Southern African Customs Union, Sacu, which is 100 years old. It must not just be about focusing on revenue sharing, on receipts, but also making sure that we make use of those resources to fast-track integration through infrastructure building on our continent to facilitate the free movement of goods and services. We must go on the offensive regarding manufacturing and industrialisation and, as the president of one country says, stop being exporters of raw materials. By doing that, we become donors to those who have the historical capability to manufacture. We must all focus on an undertaking to beneficiate our raw, natural resources, which are not infinite.