REGIONAL INDIC ATIVE STRATEGIC DEVELOPMENT PL AN 2 3 CHAPTER 3 Review of the Exiting Social and Review of Policies the existing and Economic and social Strategies economic policies and strategies 3.1 INTRODUCTION • Social and Human Development and Special Programmes (SHDSP) Since its inception in 1980 (as SADCC), SADC has constantly engaged in developing policies and strategies in the different areas of regional cooperation and integration, 3.2 TRADE, INDUSTRY, FINANCE AND INVESTMENT aimed at achieving its objectives. These strategies and policies were consolidated into sectoral strategy papers, Memoranda of Understanding (MOUs) and Protocols, 3.2.1 OVERVIEW which are key to the process of Community building. During its 24 years of existence SADC has made The Trade, Industry, Finance and Investment (TIFI) cluster significant progress in the areas of regional cooperation comprises of trade and industry, mining and finance and and regional market integration, as well as in regional investment. These sectors are intrinsically interrelated infrastructure and services. and can easily influence development and poverty This chapter briefly analyses and evaluates current reduction in the region. economic and social policies and strategies of the Trade is viewed as catalytic to deeper regional different areas of regional cooperation and integration in cooperation and integration and can foster growth and SADC. This evaluation is intended to identify the gaps and poverty reduction. It is therefore an important instrument challenges facing SADC at present, in order to rationalise for sustainable economic development. As in the case of the SADC Programme of Action (SPA) and strategic MERCOSUR, ASEAN and CARICOM, those countries that priorities over the next 15 years, in line with SADC's main have integrated themselves into the world economy objectives. through trade and investment have enjoyed higher The review of current policies and strategies will be done according to the following new clusters: economic growth, an improvement in many key social indicators and the standard of living of their peoples. • Trade, Industry, Finance and Investment (TIFI); • Infrastructure and Service (IS); goods (about 90% of SADC exports comprise of mineral • Food, Agriculture and natural resources (FANR); and agricultural goods), and its imports are mainly capital SADC exports are mainly primary and unfinished