A commitment by global leaders to turn the tideon
the degradation of the world’s oceans has earned the praise of President Cyril Ramaphosa.
The President recently embarked on a working visit to Canada during which he participated in the G7 Leaders’
Outreach Summit. South Africa’s participation in the two-day session,
which was held under the theme “Healthy, Productive and Resilient Oceans and Seas,
Coasts and Communities”, was at the invitation of Canadian Prime Minister Justin Trudeau.
Multilateral approach President Ramaphosa described the summit as a success and stressed the importance of the strong political signal delivered
by the G7 leaders to address issues facing the world’s oceans,
including stressors such as plastic pollution, building the resilience of coasts and communities,
improving the protection of the world’s oceans and ensuring sustainable use of marine resources.
He said it was important to strengthen the multilateral approach to managing
Ocean protection ocean resources beyond national jurisdiction.
France, Germany, Vietnam, Rwanda, Kenya and the host country, Canada.
Attracting investment In line with President Ramaphosa’s drive to attract investment to grow the economy and create jobs, as well as reduce poverty and inequality,
The 2.2 percent fall is the largest quarter-on-quarter decline since the first quarter of 2009. In that quarter, the economy contracted by 6.1 percent.
After recording four consecutive quarters of robust growth in 2017, the agriculture industry lost ground in the first quarter of 2018, contracting by 24.2 percent.
Production was down 9.9 percent in the first quarter of 2018, following on from a decrease of 4.4 percent in the fourth quarter of 2017.
Lower production in gold, platinum group metals and iron ore were the main contributors to falling performance.
Manufacturing also failed to make a positive contribution to economic growth, falling by 6.4 percent.
The decline was driven largely by a fall in production of petroleum and chemical products, as well as basic iron and steel.
The trade, construction and electricity industries also recorded negative growth in the first quarter of 2018 compared with the fourth quarter of 2017.
Trade activity fell by 3.1 percent, on the back of weaker wholesale, retail and motor trade sales and lower activity in catering and accommodation.
The construction industry continued to contract, experiencing its fifth consecutive quarter of decline.
The industry has lost R1.7 billion in value since the fourth quarter of 2016, falling from R110 billion to R108 billion in the first quarter of 2018 (constant 2010 prices, annualised).
Economic activity in transport, finance, personal services and government increased in the first quarter of 2018.
The 1.8 percent rise in general government was mostly related to increased employment numbers in the public sector
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