Chairperson, the ACDP supports the Department of Trade and Industry's industrial policy in broad terms with its focus on labour- intensive industries to achieve and focus on job creation in the country. We understand the critical role that the department plays in this area. We also understand, however, that there are significant challenges facing the South African economy, owing to the slow recovery of the global economy and the sovereign debt crisis in the Eurozone.
Ipap 2 is mooted as a major element of the New Growth Path which aims to create 5 million new jobs by 2020. This is a lofty target. But let us, as the hon Fubbs said, join hands to see if we can achieve that goal or a substantial part of it for the good of our nation and the good of our people. If we get 80% or 90% of the target, it would be significant and commendable.
South Africa's invitation to join the Bric group - Brazil, Russia, India and China - is undoubtedly a major achievement. It again illustrates how South Africa punches above its weight in international affairs and how positively the country is perceived by other countries. It appears that the G7 grouping no longer dominates the world economic order, particularly if one has regard to the growing sovereign debt crisis in Europe. It is hoped that the new B5 will be able to successfully contend for financial and economic inclusion, to correct distortions and trade imbalances around tariffs and to address other challenges facing the developing world, such as poverty and unemployment.
There can be no doubt that the Bric group represents new and lucrative markets for South African goods and services, as well as opportunities to implement Ipap 2 and the New Growth Path policy framework. With almost 2,9 billion people living in African countries, a quarter of the world's land mass and a combined GDP of some US$120 trillion - that is approximately R69 trillion - the Bric group already represents a significant portion of the world's economic activity.
What do we bring to the Bric table? The African market, with a population of 800 million and a US$1 trillion economy is, as commentators have pointed out, significant. We, as South Africa, have the opportunity to leverage our world-class corporate governance, financial services and technical skills to reach a higher level of growth, and this the ACDP clearly supports.
A further benefit clearly lies in the area of beneficiation industries for our raw materials. South Africa must move away from being an exporter of raw materials to focus on beneficiation. [Applause.]
Clearly, the question we need to ask is whether we will still be able to criticise certain Bric countries on their human rights. And I'm sure we will reserve that right. Let us, however, be proud of the fact that we have been accepted into the Bric group. This is a major achievement of which we as South Africans can be proud. The ACDP will support this Budget Vote. I thank you. [Applause.]