During a media briefing on Tuesday, 22 October, the Free Market Foundation (FMF) called on the Government of National Unity (GNU) to dramatically overhaul the trade policy environment in South Africa. 

These calls follow from a policy paper, developed by the FMF, which provides recommendations to policymakers in South Africa’s post-2024 government to enable greater freedom to trade – thereby enhancing productivity, boosting economic growth and ultimately reducing both the breadth as well as the depth of poverty and unemployment in South Africa. 

In its paper, the FMF argues that the GNU has a unique opportunity to reshape the country's socio-economic landscape provided they have the political will to do so. 

“With unemployment at a staggering 32.9%, and the economy struggling to achieve even 1% GDP growth per capita for over the past decade, it is clear that South Africa requires urgent economic reform. The FMF's Liberty First initiative leverages findings from the Fraser Institute’s Economic Freedom of the World (EFW) report to propose solutions that enhance productivity, encourage investment, and ultimately reverse the socio-economic decline,” said Dr Morné Malan, Deputy Head of Policy at the FMF. 

According to the FMF, the role of international trade and exchange as an engine of growth, prosperity and human flourishing has been a central feature of economic theory and analysis since the inception of the field as a scientific discipline.  

"Our recommendations to the GNU focus on eliminating restrictive tariffs, reducing unnecessary regulations, and opening financial markets. These are necessary steps to build a prosperous future for all South Africans," Malan argued. 

“These reforms are designed to stimulate competition, lower prices, and create opportunities for South Africa’s impoverished and unemployed. The FMF firmly believes that placing liberty first in trade policy will lead to greater wealth and human flourishing for all,” Malan concluded. 

For more information visit www.libertyfirst.co.za. 

Click here to read the full Liberty First policy agenda on free trade.