Only in­dus­trial growth can beat un­em­ploy­ment

Cosatu ex­pects global fig­ures to reach 220m

The Star Early Edition - - NEWS - Regis Nya­makanga

SUS­TAINED in­dus­trial and eco­nomic growth in the world’s top five emerg­ing economies could halt the cur­rent surge in global un­em­ploy­ment, top South African trade union Cosatu has said.

Its sec­re­tary for in­ter­na­tional re­la­tions, Bon­gani Ma­suku, said this week that global un­em­ploy­ment fig­ures were ex­pected to rise from 207 mil­lion people in 2014 to 220 mil­lion.

But trade unions from the five emerg­ing global economies Brazil, Rus­sia, India, China and South Africa (Brics) were bank­ing on the cur­rent in­dus­tri­al­i­sa­tion and eco­nomic de­vel­op­ment in these coun­tries to re­verse this trend.

“As Brics trade unions, we have in­sis­tently placed job cre­ation through in­dus­tri­al­i­sa­tion and build­ing the manufacturing base, pri­ori­ti­sa­tion of food se­cu­rity through agri­cul­ture and the ac­ces­si­bil­ity of IT for all coun­tries and people as a pri­or­ity to en­hance sus­tain­able de­vel­op­ment and so­cial progress,” he said.

Cosatu would be par­tic­i­pat­ing in next Mon­day’s Brics Trade Unions Fo­rum meet­ing in China’s cap­i­tal Bei­jing. The meet­ing would be run­ning con­cur­rently with an­other of the Em­ploy­ment and Labour Min­is­ters in Chongqing, which rep­re­sen­ta­tives of labour and busi­ness are ex­pected to at­tend.

“These en­gage­ments are very crit­i­cal to the progress re­quired for Brics to be on a dif­fer­ent level in the con­text of the global cri­sis and the sit­u­a­tions fac­ing work­ers in our var­i­ous coun­tries. The 9th Brics Heads of States Sum­mit shall be held in Xi­a­men, Fu­jian Prov­ince in Septem­ber un­der the theme – ‘Brics: Stronger Part­ner­ship for a Brighter Fu­ture’,” Ma­suku said.

Cosatu would be push­ing for in­creased co-op­er­a­tion be­tween Brics trade unions and coun­tries to pro­mote job cre­ation, in­dus­tri­al­i­sa­tion and eco­nomic growth and de­vel­op­ment.

Brics economies ac­count for about 43 per­cent of the world pop­u­la­tion, 37 per­cent of the world gross do­mes­tic prod­uct and 17 per­cent of world trade.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.